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#1806500 - 04/19/13 04:38 PM Fraud Alert - Red Flag / FACTA
ComplianceGrl15 Offline
Gold Star
Joined: Apr 2011
Posts: 257
West Virginia
A MLO took an application, by phone, for a construction loan. The applicant is a non-customer and lives out of our area.

When the credit report was pulled a fraud alert from Nov 2012 showed up but stated that no telephone contact information was provided for us to be able to call and verify that the consumer is actually applying for this loan.

Of course, our normal procedure is to call the telephone contact number that the credit report lists, however, since it is not listed should we request that the consumer come into the office and bring identifying information????\

Any suggestions on how to handle this situation?

Thanks!

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Lending Compliance
#1806532 - 04/19/13 05:20 PM Re: Fraud Alert - Red Flag / FACTA ComplianceGrl15
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,555
Galveston, TX
since it is not listed should we request that the consumer come into the office and bring identifying information????\

That would be exactly my suggestion.
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#1806534 - 04/19/13 05:27 PM Re: Fraud Alert - Red Flag / FACTA ComplianceGrl15
ComplianceGrl15 Offline
Gold Star
Joined: Apr 2011
Posts: 257
West Virginia
Thank you so much!

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