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FACT Act Overview

Course Description

This course provides an overview of the FACT Act (Fair and Accurate Credit Transactions Act of 2003), which amends the Fair Credit Reporting Act (FCRA). The goal of the FCRA and the FACT Act is to "require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of the Act."
30 Minutes
Series: Compliance Plus
Roles: Mortgage Professionals, Mortgage Closer, Mortgage Loan Originator, Mortgage Processor, Mortgage Underwriter
Course Format: Online Self-Paced
Package: Mortgage Advantage, Mortgage Complete, Mortgage Edge

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