MEMPHIS, TN--(Marketwired - March 29, 2017) - Data Facts, Inc. a national and international provider of lending solutions, recently announced a new webinar scheduled for April 12 to address important upcoming changes on consumer credit reports.
A change to certain information available on a consumer credit report is coming July 1, 2017. This shift could affect the credit scores of millions of consumers.
Julie Wink, the Executive Vice President of Data Facts, knows lenders are concerned. "The three credit bureaus are changing the way tax liens and civil judgments are reported. If the data does not match up to three out of four pieces of identifying information, which are name, address, social security number, and date of birth, it will be removed from the credit report. The absence of this information could cause some borrowers' credit scores to increase."
It's estimated that up to half of civil judgment information and most tax lien data will be removed because of this new standard.
The webinar, scheduled for Thursday, April 12 at 9 am CDT, will cover the upcoming change, its effect on lenders, and updates from the scoring model builders. Jennifer Hamby and Susan McCullah will present the information.
Jennifer Hamby, Data Facts' Customer Success Manager, comments that "we will also be talking about tools lenders can employ to minimize the risk of missing tax liens and judgments. The goal of our webinar is to help our clients and the lending community be prepared for this change, and ensure their processes are still able to be predictive of a borrower's ability to pay."
The webinar is complimentary and open for registration. There will be a question and answer session at the end.
About Data Facts, Inc.
Since 1989, Data Facts, Inc. has provided trusted information to mortgage lending professionals to help them reach sound lending decisions. Headquartered in Memphis, TN, the company maintains a national footprint and is committed to ongoing education and industry involvement to ensure they stay on the forefront of industry regulations. This insight allows them to provide a suite of comprehensive solutions such as credit reports, fraud products, tax and social security verifications, flood solutions, and an appraisal ordering platform, to help clients close more, faster and easier.
Their commitment to above industry standards is proven by their NAPBS accreditation, sustaining SOC 1 and SOC 2 certifications, all staff members upholding FCRA certification, and maintaining active roles on the NCRA and multiple MBA boards.
Data Facts, Inc. was the proud recipient of the Commercial Appeal's Top Workplace Award in 2013, 2014, 2015, and 2016.
In addition, Data Facts, Inc is certified by the Women's Business Enterprise National Council (WBENC) as a women-owned business.
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