Data Facts Lending Solutions Blog

UPDATE: How DU Plans to Handle Your Frozen Credit Files

Posted by Sara Kellum

Nov 9, 2017 11:51:10 AM

After the Equifax security breach that impacted millions of US consumers, many have elected to place a credit freeze on one or all of their credit reports as a safeguard. While putting a freeze on your report helps protect against fraud, it can present challenges if the consumer needs to obtain legitimate financing. 

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Topics: Identity theft, Credit Freeze, fannie mae, frozen credit files, mortgage lending services

Fraud Alert and Credit Freeze: Which Do You Need?

Posted by Jennifer Hamby

Sep 19, 2017 11:15:42 AM

In light of the recent Equifax security breach, Data Facts is re-posting information on the mortgage lending services of fraud alerts and credit freezes.

 Approximately 15 million United States residents have their identities used fraudulently each year with financial losses totalling upwards of $50 billion.  On a case-by-case basis, that means approximately 7% of all adults have their identities misused with each instance resulting in approximately $3,500 in losses!!

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Topics: Identity theft, frozen credit files, mortgage lending services

Be Vigilant on Vacay! TwelveTips to Guard Against Identity Theft this Summer

Posted by Susan McCullah

Jul 7, 2016 11:01:37 AM

Planning a fun trip this summer?

It's important to relax and have fun on vacation, but remember that criminals are everywhere, waiting to take advantage of your lack of attention. It's likely that the last thing on your mind when you're vacationing is becoming the victim of identity theft. However, vacation time is also when identity thieves are at their busiest.

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Topics: Identity theft, Hacked, Credit Freeze

6 WAYS TO CLOSE LOANS FASTER AND STAY IN COMPLIANCE

Posted by Johnna Leeds

Jul 15, 2015 10:05:00 AM

In today’s financial climate, it is becoming more evident by utilizing bundled services from a single provider Lenders will be able to serve clients more effectively, profitably and will emerge as industry leaders.

Why should you bundle services? First of all, one vendor equals fewer headaches. It standardizes operations and saves time. You don’t have to call, email and wait for responses from multiple vendors. Secondly, it builds a stronger relationship. This makes for a more positive overall experience. Lastly, it helps you to stay in compliance. Compliance is ALWAYS a top priority. Bundling services minimizes the risk of being out of compliance by having all your paperwork from ONE source. Your chosen vendor should be constantly providing compliance information for your records.

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Topics: Data Facts blog, Identity theft 2012, Identity theft, FCRA, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, AVM's, Improve Credit Score, credit cards, credit history, Automated Valuation Model, Compliance, mortgage news

Fraud Alert Vs. Security Freeze--Which Is Right For Me?

Posted by Jennifer Hamby

Jul 9, 2015 7:30:00 AM

Identity Theft is the fastest growing crime in America.  Approximately 15 million United States residents have their identities used fraudulently each year with financial losses totalling upwards of $50 billion.  On a case-by-case basis, that means approximately 7% of all adults have their identities misused with each instance resulting in approximately $3,500 in losses!!

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Topics: Identity theft

Protecting Your Identity While On Vacation

Posted by Jennifer Hamby

Jun 23, 2015 8:29:26 AM

Vacations are meant to be a time for you to relax and to enjoy yourself. It's likely that the last thing on your mind when you're vacationing is becoming the victim of theft. However, vacation time is also when identity thieves are at their busiest.

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Topics: Identity theft

Holiday Shopping Tips to Help Protect Against ID Theft

Posted by Jennifer Hamby

Nov 26, 2014 9:51:00 AM

 

holiday_shopping_tips

Holiday Shopping season is an identity thief’s dream come true.  Millions of people, spending millions of dollars,  in thousands of stores, both in stores and online, in a condensed amount of time.  It is a treasure trove of victims, ripe for the picking.  This is why it is more important than ever to take special precautions when shopping both online and in stores this holiday season.

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Topics: Identity theft, Data Breach, credit cards, Holiday tips

5 Ways To Protect Your Credit During a Divorce

Posted by Jennifer Hamby

Sep 15, 2014 1:14:00 PM

Confucius say: Beware scorned spouse with shared credit.

Maybe the Chinese thinker and philosopher didn't actually say those lines, but he should have. Your credit sits on dangerous ground when you and your spouse decide to split up.

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Topics: Identity theft, credit reports, divorce, credit history

Tips to Protect Your Identity After A Security Breach

Posted by Jennifer Hamby

Sep 3, 2014 9:32:00 AM

Oh no, not again!  Home-improvement giant, Home Depot stated it was currently investigating a possible breach involving “unusual activity that might indicate a possible payment data breach”.  This is the latest, in several data breaches, affecting some of the nation’s largest retailers.  While we are still unclear as to the extent of this latest breach, one thing is for certain:  you can never take too many precautions to help protect your identity!

Below are steps and recommendations that may help to protect you from potential misuse of your credit and debit information.

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Topics: Identity theft, Data Breach, Credit Freeze, credit cards

SSN Mortgage Fraud-What You Need To Know

Posted by Jennifer Hamby

Jul 23, 2014 2:16:00 PM

 

The social security card looks like an innocent little thing. However, its 9 digit number packs a powerful wallop during the mortgage process. People who commit mortgage fraud often attempt to utilize other people’s socials to acquire mortgage loans.

According to a recent Fannie Mae Fraud Report, mortgage fraud involving social security number misrepresentations is up almost 10%! 

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Topics: Identity theft, credit reports, mortgage fraud

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