Identity Theft Red Flags Rule: 56% of U.S. Mortgage Brokers Have Never Heard of ItTo learn more about Identity Theft and what to do if you are a victim, visit www.StopIdTheftCrime.com and subscribe to the newsletter to obtain your free 46 page eBook "Fighting Back Against Identity Theft".
Mortgage Brokers Will Struggle the Most to Hit the May 1, 2009 Deadline
Orange, CA, March 21, 2009 --(PR.com)-- Only forty three (43%) of U.S. Mortgage Brokers have ever heard of the law and most will have trouble meeting the May 1 deadline for compliance with the Identity Theft Red Flags Rule. This is the key finding of a survey aimed at gauging the success of mortgage broker’s efforts to meet the terms of the new regulatory mandate.
With roughly two months to go before the Identity Theft Red Flags compliance deadline (May 1, 2009), over 50% of the mortgage brokers who were aware of the rule, say they have no idea how they’ll comply and therefore will have trouble beating the May 1st date. Only 17% of the mortgage brokers say they are already completely compliant.
The challenge is even more profound for the majority of mortgage brokers who responded, with 56% saying they weren’t aware of the rule at all or that that it pertained to them. (Full text at www.pr.com)
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