Fraud Review
DOB is a mismatch what steps do you take to clear?
Review Credit report pull and post Lexis Nexis find a person results and request ID document to clear.
How do we clear a BS with suffixes?
Voided check, BVC or VVDD
If an application has High risk conditions and is a decline does it need to go to 2nd?
no you can decline if its within your authority
What tasks must be cleared before we can discuss details with the applicant?
OFAC,PEP, CS
What mini task do we review and how many calls do we make to advise they need to be completed?
Email verification
credit union
direct pay
citizenship, employment, legal agreement, primary phone number (DEP)
1 outbound call
What sources can we use to locate a credible number?
- Credit Report
- WPIC unless non fixed VOIP
-LXNX phone finder
Giact is passing but there is a High risk routing how do we proceed?
BVCDD/VVDD
VOI was waived by the work number and is FR high.
Yes send to 2nd
What do we review in related loans?
Back end rejected
Withdraw
What docs can we clear VOR with and how many days must the documents be dated within?
40 days
can use Utility bill, Bank statement or credit card statement
Acceptable ways to clear HRFA?
Avc with credible number
Selfie with ID
BVCDD
or VVDD with income deposits
a Chase bank account is added and Finicity AO system verification is a fail how do we proceed?
If the discrepancy can be cleared via credit report/Lexis Nexis notate and close Bank task.
unable to clear
Fraud review Low and Trusted need BS to compare deposits
Fraud review Medium, High, Very high need BVCDD
What fraud review levels require an Application with a High Risk Fraud Alert to be sent for second review?
All levels
On what day can we timeout PL/PCL/ DEP After noia for inactive applications.
day 26 for PL/PCL
day 60 DEP
An ID is non standard term on a DEP application what steps do we take?
Confirm ID is not expired
You receive an online generated paystub and it is not a FOB what steps do we take next?
Post ***INTERNAL NOTE DO NOT DISCLOSE*** confirm with applicant if paystub is directly from their employer.
If finicity has less than 5 transactions what steps do you take?
Review if there is any verifiable income deposits to clear if not request a more active bank account.
OFAC, HRFA and PEP require second review?
PEP does not require second review as long as no other task also present that require a 2nd review.
Applicant just became 1099 contractor employee does not have 2 years of 1099 to provide or w2 in similar field and no other income sources. What adverse action would we send?
Length of employment
Address on ID does not match application what steps do you take?
Notate and clear address via
Credit report
Lxnx Find a person or instant ID
if unable to clear add VOR
What do we request when a common address is not present on a JT application?
Both applicants should be requested to upload three photos each:
Front of ID
Back of ID
Photo of each applicant holding a piece of paper with their loan ID on it
The application should be notated with the following:
No matching addresses between A1 & A2
If there's unemployment benefits on finicity or a bank statement how do we proceed?
Add VOI
For 401k income what must you notate before sending to 2nd?
Must show calculation from most recent retirement statement.
If an Application is already Income insufficient per VQ but no AA is generated and we are timing out the application how do we proceed?
Attempt to manually clear VOI if unable to clear request an AA worksheet.
Suspected impersonation BVCDD is needed no Bank account is present how do we proceed?
Request a sup note for most recent bank statement and complete a bvcdd