The Mortgage Industry Guide to the Red Flags Rule is a handy reference tool that provides busy lenders and brokers with the tools they need to design and implement an Identity Theft Prevention Program as required by the Federal Trade Commission's new Red Flags Rule. The topics address how to design and implement reasonable policies and procedures to:
- Identify Red Flags
- Detect and evaluate Red Flags at the customer transaction level
- Respond appropriately to the Red Flags detected
- Periodically update the Identity Theft Prevention Program as necessary
- Annual Board of Director Reporting
The Mortgage Industry Guide to the Red Flags Rule comes with five downloadable and customizable templates to use as the basis for your company's specific Identity Theft Prevention Program:
- Sample Identity Theft Prevention Program
- Risk Assessment Form
- Customer ID Verification Checklist
- ID Theft Incident Reporting
- Annual Board of Director Reporting
The information is presented in an easy to read format, with as little "legalese" and as much useful and practical information as possible. The goal is to give mortgage industry participants a solid, basic working knowledge of the Red Flags Rule.
