2017 Creditor Compliance Checklist: Credit Reports, Credit Scores and Preventing Application Fraud

Duration: 90 Minutes
This 90-minute session is an invaluable resource for new and seasoned lenders, as well as an exceptional training tool for Customer Service Representatives who rely on consumer credit reports to open direct deposit accounts (DDA), consumer accounts, and commercial accounts.
Creditor Compliance Checklist
Instructor: Alisa Glutz
Product ID: 506402
Objectives of the Presentation
  • Overview of the Different "Credit Files" from the BIG 3 NCRAs: Experian, Equifax, and Trans Union
  • Explanation and Review of an NCRA Dual-Merge or Tri-Merge Report
  • Permissible Purpose & Credit Report Pulling: Understanding the Rules and Regulations of Requesting Reports
  • Benefits and Disadvantages of Each NCRA Report: The Pros & Cons of Experian, Equifax, and Trans Union
  • Scores Comparisons: understand the variety of consumer reports in your community
  • Understand why each credit report can offer different terms for your loan
  • Enhanced Credit Report: Using Beefed-Up Credit Reports for Collections and Skip-Tracing Purposes
  • Debt-to-Income Comparison: Which Credit Report is the Best for Determining a Consumer's Debt-to-Income Ratio?
  • Reasons Why You Should Rely on Consumer Reports, as well as ChexSystems, to Open Deposit Accounts
  • The Hiring Process: Using Consumer Credit Reports for Employment Purposes
  • Commercial Credit Reports: Review and Determine the Best Commercial Credit Reports for Your Community Bank or Credit Union
Catching fraud before it happens:
  • Red Flag Guidelines: Review Policies and Strengthen Identity Theft Prevention Measures
  • Fake Credit Files: Learn How Crooks Manipulate the System to Create Fake Credit Files
  • Lending Fraud: Identifying Application Fraud and Loan Stacking
  • New Credit Identities: Spotting Shady Consumers Who Create New Credit Identities with Legal Tax Identification Numbers t
  • Fraud Alert and Scoring Products that Reduce Your FI's Risk
Understanding and using credit scores to streamline the lending process:
  • Using Credit Scoring throughout the life of an account: Opening, Monitoring, and Closing Accounts
  • How to Use Credit Scoring to Prioritize Accounts Receivable
  • Review the Factors that Determine the Credit Score
  • New Bankruptcy Scoring Models: Will These Models Accurately Predict Bankruptcy?
  • Learn to (Legally) Improve Your Customer's Credit Score!
Compliance, Compliance, Compliance:
  • New Adverse Action Notices
  • Disparate Treatment of Applicants Associated with Credit Scoring
  • Identity Theft and RED FLAG Guidelines
  • Fraud Alert & Military Alert Notifications Requirements
  • Permissible Purpose
  • Consumer Disputes- You Cannot Ignore a Direct Data Dispute, Nor Can You Simply Refer the Dispute to an NCRA!
  • Consumer Credit Data Complaints and the CFPB
  • Accuracy & Integrity of Data- Preventing Re-pollution of Credit Reports
  • Providing Free Credit Reports to Consumers
Why Should you Attend
Reading consumer credit reports used to be simple! Today, with the average credit report exceeding 7 pages in length, it practically takes a forensics degree to decipher the data and material therein. Fear not, valiant banker, credit union staffer, or consumer! We'll help you become fluent in the language of credit reports faster than you can say, "Experian, Equifax, and Trans Union" (the BIG 3 National Credit Report Agencies (NCRAs). During this session we will analyze consumer credit reports from the NCRAs.

We will review the different file formats of these reports, as well as the best add-on products available through each NCRA. We will discuss the differences in the credit report and scores that the consumer receives from an NCRA versus- the credit reports and scores that are used by your FI. Further, we will discuss issues related to credit scores and identity theft, as well as discussing red flags that will help you spot and prevent identity fraud.

This session will also cover the CFPB studies that compelled the Fair Isaacs Company to rework their credit scoring models-a decision that affects every MODEL your FI will purchase from these agencies. Likewise, we'll examine how consumer fraud can be avoided at the beginning of the application process. And, of course, this program will take an exhaustive look at the myriad of issues related to the FCRA (Fair Credit Reporting Act), FACTA (Fair and Accurate Credit Transaction Act) amendment, and the CFPB (Consumer Financial Protection Bureau) rulings on creditor compliance.

Who will Benefit
This informative session is designed for your anyone in your bank that needs a better understanding of credit scores including; CEO, CFO, Directors, President, Managers, Branch & Assistant Managers, Credit Analyst, Commercial & Consumer Lenders, Compliance & Risk Officers, Collection Staff, Human Resource Trainers, Front Line handling applications, and anyone responsible for establishing & maintaining your credit policy & procedures.
$300
Recorded Session for one participant
Get life time access with download option!
Book this course
Pay Now
  $450.00 Training CD
Free shipment within 4 Working Days of placing the order. Get life time access for unlimited participants.
  $550.00 Training USB Flash Drive
Free shipment within 4 Working Days of placing the order. Get life time access for unlimited participants.
For multiple location please contact our customer care team +1-510-857-5896.
How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Alisa Glutz's "client for life" approach is built on the foundation of providing personalized service tailor-made to meet her client's mortgage needs. With over 13 years of experience (and growing up in the business), Alisa has developed a broad knowledge of the mortgage business and credit industry, which allows her to guide clients to the loan program that will best suit them and plan for the future. Alisa's strong referral base knows that they can count on her to provide the highest level of personalized service and rely on her for her 'Mortgage MacGyver' gift in finding ingenious solutions to complex loan scenarios.

Alisa is Recognized annually as a Top Producer for Cherry Creek Mortgage Co., Inc. based on production; Nominated for the 2nd year in a row for Arizona Journal of Real Estate and Business's Mortgage Lender of the Year; Certified Continuing Education Instructor; Featured on the cover of the nationwide edition of Top Agent Magazine; Guest on podcasts such as Talkjet, Real Estate Uncensored, Mortgage Entrepreneur Pro, and Todd Duncan's High Trust Selling Podcast; Writer for Scotsman Guide; Speaker at Todd Duncan's 2015 Sales Mastery and current member of Advisory Board; Creator and Authorof Color My Credit which teaches consumers how to understand your credit report in a colorful simple way and shows how to take action to improve your credit score(s).
View More