SSA Selects Equifax to Strengthen Identity Verification

Equifax recently announced that it has completed integration with the Social Security Administration (SSA) to supply identity proofing and account, address and mobile device ID verification to help mange risk and mitigate fraud for the SSA’s my Social Security system, a personalized portal for customers to access some of SSA’s services such as the online [Read More…]

Equifax Welcomes 5,000th Member of The Work Number

The University of Maine System has joined The Work Number, the largest database of employer-direct income and employment information, as the 5,000th client. The Work Number provides automated income and employment information to banks, mortgage companies, auto dealerships, and other entities when authorized by the consumer, and utilized in compliance with Fair Credit Reporting Act regulations. [Read More…]

Balance of Auto Loans Tops Record-Breaking $900 Billion

Recent studies on the balance of auto loans show that consumers are borrowing more money to buy new vehicles, and loan-delinquency is at an all-time low.

Lenders, Don’t Let Reduced Mortgage Fraud Rates Fool You

With mortgage fraud on the decline, many banks are eagerly opening their vaults again to borrowers. While this information is good news for most…

Helping the Troubled Borrower Reenter the Market

It’s good news for the troubled borrower: In the August 2013 Mortgagee Letter , the FHA ruled that buyers who lost their homes or experienced default…

Is the Interest-Only Mortgage Making a Comeback?

The interest only mortgage is staging its comeback in many areas throughout the US. With real estate inventory low in key areas, and buyers buying at…

Credit Reports Fail During Origination Process

During the mortgage origination process, lenders utilize credit reports in two instances. It is often the first indication of an individual’s…

Home Finance: Write-Offs Decrease by More Than 37 Percent

The latest Equifax National Consumer Credit Trends Report is out, and it is full of good news about lower home finance delinquencies.

Auto Lending Sector Enjoying Boom Times and Record Credit Numbers

Boom times are back, and the auto lending sector is still going strong in 2014, according to the most recent Equifax National Consumer Credit Trends Report. “Auto lending continues to lead the recovery,” said Amy Crews Cutts, Chief Economist at Equifax. According to the report, while new sales in the auto industry have driven the [Read More…]

Equifax Named a 2014 “Top 50 Service Provider” by Mortgage Technology Magazine

Equifax is proud to announce its inclusion as a 2014 “Top 50 Service Provider” by Mortgage Technology magazine. The listing cited the company’s Spectrum Verification Services Platform, which provides a central hub for lenders to access the full suite of verification reports through a single Web interface or system integration. In addition to Spectrum, Equifax [Read More…]