MEMPHIS, TN--(Marketwired - April 02, 2015) - Data Facts, Inc. -- a nationwide provider of mortgage lending solutions -- is excited to announce the latest enhancement to their arsenal of Fraud Solutions, BDV-Background Data Verifications, powered by Pitchpoint. Background Data Verifications provide an efficient and economical third party vendor review and monitoring program, enabling compliance with CFPB, OCC, FDIC and investors.
This easy to use system allows lenders to perform due diligence and monitor all partners on a loan. The BDV report provides clear insight into companies and individuals, and notifies clients to high risk factors in a concise summary report. The monitoring option enables full compliance by providing email alerts if a new derogatory record is identified.
The BDV Reporting and Management Systems work together to provide an effective way to organize, search and archive information on all of your service providers. BDV reports are automatically updated with the ongoing monitoring results, and the system features journaling capability and setting service provider status.
"Our average lending client could have hundreds of service providers. The BDV system provides an easy and reliable way for them to order and manage the initial background reports and ongoing monitoring results. This advanced reporting and software combination allows our lenders to easily vet, monitor, and manage all of their third party vendors. It can be their one solution for all service provider screening," says Julie Wink, Executive Vice President of Data Facts, Inc.
Since 1989, Data Facts, Inc. has maintained a commitment to offering innovative lending solutions, and offering the best in compliance safeguards. This product combines comprehensive reporting, with minimal information input, saving client's time and money, and streamlining their their party vendor management procedures.
About Data Facts Since 1989, Data Facts, Inc. has provided trusted information to mortgage lending professionals to make sound lending decisions. Headquartered in Cordova, TN, the company maintains a national footprint and stays on the forefront of industry regulations. This insight allows them to provide a suite of comprehensive solutions to advance the efficiency of the lending process. Their dedication to operational excellence and personalized support has solidified them as an industry leader for over 25 years. Close More, Close Faster, Close Easier with Data Facts.
Data Facts, Inc. was named "Top Workplaces of 2013 and 2014" by The Commercial Appeal. Data Facts also participates in many local and national non-profit organizations and offers a "Data Facts Gives Back" program, which donates a portion of all new client billing to the charity of their choice.
Their commitment to above industry standards is proven by sustaining SOC 1 and SOC 2 certifications, all staff members upholding FCRA certification, and maintaining active roles on the NCRA and multiple MBA boards.
For more information, please contact Data Facts, Inc. at 901-685-7599 or email firstname.lastname@example.org. Subscribe to their blog , follow them on Twitter, and connect on Linkedin to stay abreast of industry updates.