Identity Verification and FACT Act Red Flags Rule Compliance for Mortgage Brokers

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Mortgage Broker's and Lender's

Red Flags Rule Solutions

Red Flags Rule Program Policy Generator

and Employee Training

Compliance Solutions

Will Your Red Flags Rule Program Meet the Requirements to Survive an Audit?

Protect Your Clients and Your Business

Avoid the Fines

Red Flag Rules for Mortgage Brokers

	Mortgage Brokers
	Mortgage Lenders

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As a Mortgage Broker or Mortgage Lender you may be considered a “creditor” as defined by the Federal Trade Commission and may be required to comply with Red Flags Rule.

Key “Red Flags” Rule Requirements:

Designate a Compliance Officer / Program Coordinator
Perform a Risk Assessment to determine “Red Flags”
Develop a “written” Identity Theft Prevention Program (ITPP)
Ensure program contains your Policies and Procedures
Documented proof vendors you share sensitive information with are compliant by having proper protection and safeguards in place
Develop an employee training program & train all employees who handle sensitive information to know how to identity, detect and respond to Red Flags…and if an event occurs, you must have a policy in place to notify affected customers according to policy
Perform periodic audits
Obtain Board or Top Executive Approval
Annual Reports to record compliance

Service includes an online tool that helps you create your Identity Theft Prevention Program Document and facilitates online Identity Theft Red Flags Employee Training customized with your red flags. In addition, Veratad provides an easily deployable Identity Verification Solution with historical biographical knowledge based questions and optional OFAC Search.

Ask about our "Industry Specific" Red Flags Rule Content

Online Program Document Creation

Our service follows the FACTA guidelines and prompts you as you create a complete Identity Theft Prevention Program document. Subscribers to our service can simply log-in, complete a series of questions and download a customized Program document in Microsoft Word or Adobe Acrobat format.

Online Employee Training

In addition, your organization will receive access to an online Identity Theft Red Flags Employee Training Module completely under your direction.

Online Identity Verification

Veratad’s flagship products IDMatch and IDMatch+PLUS are ideal for meeting the identity and change of address "red flag" requirements of Section 114 and 315 of FACTA because they provide an easily deployable Identity Verification Solution with different levels of authenticating identities. In addition to ID Verification.

Testimonials

"The Red Flag Document Generator was easy to follow and implement. As added due diligence, we are using Veratad's Verification Service to ensure that we are working with the correct individuals information. The verification query is quick and easy to use. It has become part of our normal routine when we are processing a customer."

Nicole Sansonett

Mortgage Broker in Pittsburg, PA

Our Solution

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Veratad's Red Flag Rules Compliance Solutions

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Red Flag Rules Document/Training Video

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