Make Sure All Precise ID Alerts are Verified with PID Notes and Management Reports
We are pleased to provide a full due diligence system to help your clients make sure that any reported Experian Precise ID alerts are followed up on and verified. A Precise ID Notes tracking feature, combined with a management report, makes it easy to verify that any Precise ID alerts have been acknowledged, investigated, and rectified by a Loan Officer/Processor. Compliance officers and underwriters at your clients’ office can use the management report to verify all alerts were researched and followed up on.
The ability to add Precise ID Notes will allow the loan officer to annotate any updates to red flag alerts identified by the Precise ID service on discrepancies/risks in the phone number, address, driver’s license, SSN, and OFAC matches. These notes can then be verified by a compliance officer in a management report in XOL to make sure these alerts were investigated.
Watch training videos to learn more.
Adding Precise ID Notes from the XOL Client Side
Adding Precise ID Notes from an LOS via the PDF Credit Report
Due Diligence: Using the Precise ID Notes Management Report