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Protecting Your Credit After a Security Breach

Posted by datafactssolutions

Dec 19, 2013 1:50:00 PM

In light of the recent announcement from TARGET that in-store shoppers between November 27th and December 15th could have been victim to unauthorized access on their credit and debit cards, now is an appropriate time to revisit what consumers need to do after a credit breach.

The TARGET incident involved unauthorized access to consumers name, credit and/or debit number, the card’s expiration date, and the CVV (the 3 digit security code). This is quite a bit of information, that can easily lead to identity thieves duplicating a consumers credit/and or debit card, and start to rack up unauthorized charges.

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Partners Against Crime. Data Facts Helps You Combat Lending Fraud.

Posted by datafactssolutions

Nov 21, 2013 3:10:00 PM

The prevalence of mortgage fraud is still a scary fact.

According to the FBI, 13 billion dollars were lost in fraudulent mortgage loans in 2012. Over 60% of mortgage fraud includes ID discrepancies and in most cases the fraudster uses a mixture of accurate and “borrowed” information. These crooks operate this way hoping that lenders will not check every bit of information and the loan will be approved.

Luckily, there are reports available to mortgage lending companies to combat this issue, and offer some protection. This can help preserve the bottom line.

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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

Look Before You Leap on the Social Media Bandwagon

Posted by datafactssolutions

Sep 11, 2013 4:27:00 PM

As more and more people sign on to Facebook, Twitter, Pinterest, and the many other social media sites available, hiring professionals are becoming more tempted to take a peek at the information before hiring an applicant. Who can blame them? There is virtually a goldmine of potentially valuable information to be gleaned from a person’s profile, blog, photograph, or collection of tweets. Lending institutions could benefit greatly by knowing about a mortgage professional’s online presence up front.

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Topics: Data Facts blog, FCRA, Data Facts, Mortgage loan, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, credit cards, credit history, Compliance

DATA FACTS, Inc. to Attend the MBA's 100th Annual Convention and Expo

Posted by datafactssolutions

Aug 5, 2013 2:06:00 PM

Data Facts will be introducing a full suite of products that will help streamline the lending process and keep Lenders in compliance. 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.

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Topics: Data Facts blog, Identity theft 2012, Identity theft, FCRA, wordpress blog, Data Facts, Mortgage loan, MBA, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, AVM's, Improve Credit Score, credit cards, credit history, Automated Valuation Model, Compliance, MBA's 100th Annual Convention and Expo, mortgage news

Mortgage Triggering: Who is contacting my customer?

Posted by datafactssolutions

Jul 9, 2013 9:11:47 AM

Mortgage triggering is a frustrating, pull-your-hair out phenomenon that rears its ugly head frequently during a refinance boom. If you are a mortgage lender and haven’t experienced it yet, lucky you.

Mortgage triggering is the process that some lenders use to gain customers.

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Topics: Data Facts blog, FCRA, wordpress blog, Data Facts, Mortgage loan, Fair Debt Collection Act, Mortgage, lending solutions, Credit Score, Mortgage compliance, Financial literacy month, mortgage fraud, Improve Credit Score, credit history, Mortgage triggering, Do not call list, Compliance, FHA, Opt Out PreScreen, mortgage news

Debt Relief Act Extended Through 2013

Posted by datafactssolutions

Mar 6, 2013 8:50:29 AM

For the past few years, homeowners were able to utilize a tax break (part of the Mortgage Forgiveness Debt Relief Act) when dealing with a short sale. Fortunately for many, this debt relief has been extended until the end of 2013.

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Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, short sale, finances, HARP 2.0

News Release: Senators Introduce Bill to Help Americans Struggling with Medical Debt

Posted by datafactssolutions

Jan 30, 2013 11:37:00 AM

Financial_Impact

Medical Debt Responsibility Act helps consumers whose credit scores have been damaged by medical emergencies

WASHINGTON, DC – January 28: Oregon’s Senator Jeff Merkley introduced legislation to prohibit companies from using paid off or settled medical debt in assessing consumer credit scores. The Medical Debt Responsibility Act, which is cosponsored by Senators Dick Durbin (D-IL), Chuck Schumer (D-NY), Tom Harkin (D-IA), Sherrod Brown (D-OH), Robert Menendez (D-NJ) and Richard Blumenthal (D-CT), could help as many as 75 million Americans.

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Topics: Data Facts blog, wordpress blog, Credit Score, Collection accounts, Collections, credit history, mortgage news

From Data Facts: 5 Things Not to do After You Apply for a Mortgage

Posted by datafactssolutions

Oct 18, 2012 9:35:00 AM

big_red_checkmarkBuying a home can be one of the most stressful adventures a person can embark upon. From choosing the home, negotiating the price, obtaining a mortgage loan, to securing ownership, there are many pitfalls that can derail the plan.

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Topics: Data Facts blog, Data Facts, Mortgage loan, Mortgage, Credit Score, Collection accounts, credit cards, credit history

4 Tips for Reviewing Your Credit Report

Posted by datafactssolutions

Sep 21, 2012 12:39:00 PM

You have probably read the advice everywhere: CHECK YOUR CREDIT REPORT! However, what does that really mean? What are you supposed to be checking?

While pulling your credit report at least once a year is very good advice, a person needs to know what to look for when reviewing their information. Start with these tips to make certain you are making the most out of the credit report:

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Topics: Data Facts blog, wordpress blog, Data Facts, Credit Score, Collection accounts, Collections, credit cards, credit history

Social Security Numbers and Mortgage Fraud

Posted by datafactssolutions

Aug 24, 2012 8:38:00 AM

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.

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Topics: Data Facts blog, Identity theft 2012, Identity theft, wordpress blog, Data Facts, Mortgage, mortgage fraud

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