Credex® and Compliance

While Credex® provides tools to streamline the Point of Sale, we also realize that compliance and applicant confidentiality is an important factor since our tool interacts with applicant credit files.

The following is an overview of how Credex® stays in compliance as it relates to FCRA regulations that govern applicant credit reports:
  • Credex® does not accept companies who are affiliated with credit repair

  • Credex® users are credit reporting agency approved mortgage originators

  • Applicants apply with a specific mortgage originator for the purpose of obtaining a loan

  • Applicants agree and acknowledge the purpose for applying online is for a mortgage loan

  • Applicants complete the same security process as the repositories to access their credit report and mortgage credit disclosure

  • Originators are notified of unsuccessful attempts by the applicant to access their credit report as possible fraudulent activity

  • Credit reports are tagged with a mortgage inquiry at the repository level on behalf of the specified originator

  • Automated billing receipts for credit reports are provided to the originator and applicant(s)

  • Automated pass through mortgage credit disclosures are provided to the originator and applicant(s)

  • Credex® does not store credit reports in our database

  • Credex® does not email credit reports but does provide secure online access to retrieve, view and print them

  • Fraud reporting on originator accounts is provided to credit reporting agencies and the three major repositories

  • Credex® retains employee(s) that are FCRA (CDIA) certified

For more information on applicant compliance laws, click on any of the links below: