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#1669835 - 02/24/12 11:01 PM Fraud FInder Report APR?
mcovey Offline
Junior Member
Joined: Feb 2011
Posts: 26
Is anyone familiar with JP Morgan Chase's new requirement for a DataVerify or Fruad Finder Report? It is a new report you pull for Rural Developement Loans to be sold to Chase. You can get it from your credit report vendor for additional fees.

Is this new fee to be disclosed with the credit report fee? Is it a seperate new fee? Does it affect APR?

Thanks!

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Lending Compliance
#1732511 - 08/17/12 07:58 PM Re: Fraud FInder Report APR? mcovey
BjK Offline
100 Club
BjK
Joined: Mar 2003
Posts: 151
Mid USA
I also need to to know if this report affects the APR. The mortgage fraud prevention tool is a report required by Chase Rural Housing for all GRH loans sold to Chase. The vendor is chosen by the lender but we only pull the $14 report on these loan types.

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#1732544 - 08/17/12 08:44 PM Re: Fraud FInder Report APR? mcovey
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
Have you put the question to the Chase unit that's buying the loans?
_________________________
...gone fishing.

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