Assessing Red Flags for Loan Applications
Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: Should we assess Red Flags for every loan application we receive, or is it sufficient to measure Red Flags only on those applications that have the potential of turning into a new loan?
Answer: You may have evidence of identity theft, and maybe the need to file a suspicious activity report, even on a denied loan application. You start looking for identity theft red flags from the moment of first contact with the applicant.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
