To comply with Fair and Accurate Credit Transaction Act’s new red flag rules
Wolters Kluwer Financial Services has launched a new Red Flag Tool Kit for Mortgage, to help mortgage lenders and brokers comply with the Fair and Accurate Credit Transaction Act’s new red flag rules.
The company has two separate versions of the tool kit, one for mortgage lenders and one for brokers, that help each take an approach to developing and implementing their identity theft prevention programs required by the rules.
The tool kits include: streamlined red flag rules policy development through the company’s Pringle policies and audit procedures software; specially designed red flags forms and checklists for assessing the impact and risk related to the new requirements; and employee training for mortgage lenders via an instructional video and a self-directed learning module from company’s online training library.
Jason Marx, vice president and general manager of mortgage at Wolters Kluwer Financial Services, said: The Tool Kit gives them the essentials they need to help ensure they comply with the requirements in one cost-effective package. They will also be confident that each solution in the Tool kit is built upon the more than 50 years of regulatory expertise and experience behind Wolters Kluwer Financial Services.