New Equifax Risk Reveal(TM) Product Identifies Pot

WASHINGTON, Oct. 28, 2013 (GLOBE NEWSWIRE) -- Undisclosed debt remains one of the largest challenges for investors with a delegated correspondent channel. To address this challenge, Equifax (NYSE: EFX ) announced today at MBA's 100 ^th Annual Convention & Expo the availability of Risk Reveal™, an automated technology that scans closed loans investors receive from their delegated correspondent lenders to reveal the ones that may pose potential risk.

To better mitigate risk, ensure loan quality and drive profitability, investors need more transparency into the credit activity of borrowers during the underwriting process. In fact, based on Equifax research, 20% of mortgage loans reviewed in 2013 had one or more new trade lines during the "quiet period" – the time between the original credit file pull and the closing of the loan.

Risk Reveal helps provide laser focus on the loans that need attention and further research, so issues can be addressed in a timely manner. The solution removes the random nature of the selection process by identifying loans that have undisclosed debt or exceed DTI requirements associated with the loan type submitted.

In addition, Risk Reveal provides:

• An efficient review of all delivered closed loans to investors to ensure no new debt was established during the origination process, without interrupting the funding process;
• An analysis of any new debt incurred that also notes the impact to DTI based on income used to qualify;
• A portfolio evaluation with exception-based alerts to highlight loans that require further analysis in terms of undisclosed debt and consumer DTI; and
• Efficient tracking and comprehensive ordering via Equifax Spectrum™ – a powerful delivery platform that offers efficient tracking and intuitive ordering.

"Fannie Mae and Freddie Mac, along with Mortgage Insurance (MI) companies, have a vested interest in "clean" loans, yet the continued growth and competitive nature of correspondent lending requires the investor to make critical decisions on large volumes of loans in a very short time frame," said Craig Crabtree, senior vice president and general manager of Equifax Mortgage Services. "These challenges can cause investors to purchase mortgages without the thorough review necessary to ensure due diligence was performed – exposing the organization to costly repurchase requests. With Risk Reveal, this is no longer an issue."

About Equifax Inc.

Equifax is a global leader in consumer, commercial and workforce information solutions that provide businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 500 million consumers and 81 million businesses worldwide, and uses advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.

Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. In 2013, Equifax was named a Bloomberg BusinessWeek Top 50 company, was #3 in Fortune's Most Admired list in its category, and was also named to the InfoWeek 500. For more information, please visit www.equifax.com .

For More Information: Demitra Wilson 404-885-8907