THE INDUSTRY WORKING GROUP:
The Industry Working Group (consisting of representatives from across the industry including Wells Fargo, the National Association of Mortgage Field Services (NAMFS), some of their members, Aspen Grove Solutions, along with background check guidance from First Advantage) developed the industry standard within a ‘decisioning matrix’.
THE INDUSTRY STANDARD:
This standard is a living document maintained by the working group who are empowered to deal with issues that may arise from time to time. The working group is also tasked with the evaluation of additional background check companies to ensure consistent/equal application of the standard in a competitive environment. This solution is compliant with the Fair Credit Reporting Act.
The background check company will conduct the following criminal searches, as governed by the Fair Credit Reporting Act (FCRA), to ensure no information violates individual privacy standards;
DIGITAL ID VERIFICATION AND SSN TRACE: Digital ID verification ensures the person submitting themselves, is who they say they are, giving you confidence that the person isn't using someone else's identity to try hide any criminal convictions they may have. SSN Trace is used to find locations an applicant has resided that were not reported on their application.
FELONY AND MISDEMEANOR COUNTY SEARCH: County-level search for felonies and misdemeanors. Infractions and traffic violations are not included.
SEX OFFENDER DATABASE SEARCH (STATE AND NATIONAL): State-specific registry provides a search of information on sexual offenders who are required to register in the state in which they reside.
NATIONAL CRIMINAL RECORD FILE SEARCH: This database includes the fugitive files and government watch lists, sex offender registries, state and county criminal record repositories, state departments of corrections, and administrative offices of the court.
FEDERAL CRIMINAL SEARCH: Checks the U.S. District Courthouse. Examples of federal criminal cases may include bank robbery, bank fraud and kidnapping.
GLOBAL SANCTION SEARCH: This search covers both U.S. and foreign database sanctions including Office of Foreign Asset Control (OFAC), FBI Most Wanted List, Terrorist Exclusion List, Denied Parties and World Debarred Parties Lists.
LEVELS OF COMPLIANCE:
CRIMINAL CHARGE CATEGORIES:
Last Reviewed & Updated: 02/2022
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