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Marketing Tax Resolution Services? Changes Coming To Lien Reporting!

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The three major credit reporting agencies have announced that as of this July, they will cease reporting Liens and Judgements as a part of their regular credit reporting.

This means that practitioners who market tax resolution services will no longer be able to request lien filings from their normal sources and that many of their regular methodologies of reaching their target market will be disrupted.

 

Once the three nationwide credit reporting agencies implement this change, approximately 50 percent of tax liens data will be removed from their credit reports. This change has created an environment of uncertainty for tax resolution practitioners, who have relied on this data for more than two decades to target tax resolution prospects.

DataVerify, a leading provider of data verification, risk mitigation, and data aggregation, announced today its integration and access to the LexisNexis® RiskView™ Liens & Judgments Report as provided by CBCInnovis and Factual Data. This new product enables lenders to fill the gap left behind when the national credit reporting agencies cease offering access to most liens and judgment data in July.

DataVerify has been providing a Gramm-Leach-Bliley Act (GLB Act or GLBA) compliant liens and judgments report for years for fraud detection and misrepresentation. The LexisNexis RiskView Liens & Judgments Report is a Fair Credit Reporting Act (FCRA) product. “Providing our customers with options and platform flexibility has been a hallmark of the DataVerify system,” explained Brad Bogel, senior vice president, DataVerify.

This change has created an environment of uncertainty for tax resolution practitioners, who have relied on this data Click To Tweet
The DataVerify system uniquely cross references data across its numerous data sources to identify variances and risk to improve processing efficiency and consistency in the process. All of the DataVerify report information is available in data format to be used by data processing systems. Aggregating customer required data sources within the DataVerify system, analyzing this data and providing alerts of interest to customers greatly automates and enhances the entire process.



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