Provides a “snap shot” of activity in the credit report. Returned at the top of the report, credit report summary helps analyze the most significant factors in a consumer's credit file. This powerful tool contains many key calculations from the credit profile giving you a picture of the consumer's debt, monthly obligations and payment history. Also, users are alerted to derogatory items like public records, number of collection accounts, number of derogatory accounts and more.
Until now the laws on adverse action have been inconsistent and difficult to understand. The source of the problems was overlapping laws, regulations, and legal and regulatory decisions. Recently the National Auto Dealer Association (NADA), Association of Finance Insurance Professionals (AFIP), Zurich Insurance Companies and 700Credit have all published findings which strongly urge dealers to begin sending adverse action notices, or face the consequences.
Red FLag Alerts
RedFlag ID is a turn key solution for assisting dealers in their compliance obligations under the new FACTA “RedFlag” identity theft program requirements. RedFlag ID can be delivered at the top of every credit report, and/or can be run as a stand alone product.
Combined with our credit reporting solutions, RedFlag ID automatically alerts the dealer to potential identity theft Red Flags and offers next steps and extended services for verifying potential hits.
Online financing is expected to grow to more than 50% of the $400 billion in automotive finance business today. 700Quick App allows you to easily place an instant approval credit application on your dealer website. This web application uses flash video that walks the customer through entering an application online and credit approval. Your business is then notified instantly upon receipt of an application, which empowers you to be the first to contact customers looking for automotive deals online.