FOR IMMEDIATE RELEASE: (of interest to editors covering: Security, Compliance, Mortgage/Finance, Ohio Business) NAMB Names Red Flag Rules Preferred Provider: Majestic Security Delivers idBUSINESS Red Flag Compliance Module and Offers Borrower Protection CLEVELAND, Ohio, April 17, 2009 (SEND2PRESS NEWSWIRE) -- The National Association of Mortgage Brokers (NAMB) has named Majestic Security as preferred provider of the FACTA Red Flag Rules Compliance Module. Majestic Security (www.majesticsecurityidsafe.com), an identity theft protection and restoration services provider, offers mortgage brokers best practice solutions including the idBUSINESS Red Flag Compliance Module (www.idbusiness.com) and ID Experts (www.idexpertscorp.com) comprehensive identity protection services. Mortgage brokers are explicitly required to comply under Federal Trade Commission (FTC) enforcement with Red Flags Rules as part of the 2003 Fair and Accurate Credit Transactions Act (FACTA). The final rules require financial and credit institutions that hold any consumer account, or other account for which there is a reasonably foreseeable risk of identity theft, to develop and implement an Identity Theft Prevention Program. The program must include reasonable policies and procedures for detecting, preventing, and mitigating identity theft and enable a financial institution or creditor to: * Identify relevant patterns, practices, and specific forms of activity that are "red flags" signaling possible identity theft and incorporate those red flags into the program; * Detect red flags that have been incorporated into the program; * Respond appropriately to any red flags that are detected to prevent and mitigate identity theft; and * Ensure the program is updated periodically to reflect changes in risks from identity theft. "Earning NAMB's vote of confidence is a high watermark for Majestic Security, and allows our firm to help brokers avoid enormous business risks related to identity protection," said CEO of Majestic Security, Jim De Geronimo. "Majestic Security not only provides brokers a complete compliance solution and peace of mind for their business, but also creates a competitive advantage when they enroll in our 'Because We Care' borrower protection program." The Majestic Security "Because We Care" program extends its identity theft mitigation policy to borrowers by embedding a personal identity theft recovery service from ID Experts into the HUD of a mortgage, at a fraction of its retail price, protecting both the borrower and the broker, while building trust and long-term customer loyalty. "Mortgage brokers urgently need to become compliant with FACTA Red Flag Rules or face punitive action by the FTC, and possibly the states in which they are licensed," said Bryan Thornton, creator of the idBUSINESS Red Flag Rules Compliance Module. "An ideal Red Flag Rule compliance solution is built on real world forensic and information security experience. When a solution's foundation is built upon experience gained from field work with banks and mortgage companies, its capabilities create a footprint broader than the 26 identity theft 'Red Flags' itemized by the legislation, and delivers a more comprehensive set of identity theft triggers." Through Majestic Security's idBUSINESS compliance module, brokers can expect to begin meeting the requirements of the law within one hour. Upon satisfying the requirements, lenders can download their own custom Red Flag Compliance plan. About idBUSINESS idBUSINESS is the standard Information Security operating system for small- to mid-sized businesses. It provides information security planning tools that identify needs, assess risks, comply with the law, and secure an organization's data. idBUSINESS is powered by two leading firms in information security, ID Experts, the nation's leader in date breach prevention and remediation services, and Net Reaction, providers of forensics and information security planning products and services. To learn more, please visit www.idBUSINESS.com. *(LOGO 72dpi: Send2Press.com/mediaboom/09-0410-idBus_72dpi.jpg) All trademarks and service marks are the property of the respective parties. Send2Press(R) is the originating wire service for this story, Copr. 2009. NEWS SOURCE: idBUSINESS # # # // RELEASE END // MEDIA ONLY CONTACT(S): [ contact info below not for publication online or in print ] Kerri S. Milam of DepthPR for idBUSINESS Kerri @ DepthPR.com +1-404.378.0850 //NOTES TO EDITORS: * Print resolution images/logos available on request from the above media contact. ......... Plain Text Copy, and Story Permalink: http://www.Send2Press.com/mediadrome/2009-04-0417-004.txt Release PDF: http://www.Send2Press.com/mediadrome/news_2009-04-0416-004.pdf Get our full-text news via RSS: http://www.Send2Press.com/RSS2/rss.xml RSS feeds by news topic: http://feeds.send2press.com/idx_RSS.shtml Add our news to your blog or website automatically: http://feeds.send2press.com/ ......... Text provided by news source (and/or the source's authorized agency), who is solely responsible for accuracy and legality of content transmitted. ......... This news story from Send2Press Newswire may be redistributed and re-posted in part or in whole by members of the media. Copr. (c) Send2Press, a unit of Neotrope(R). For news aggregation sites, blogs, and bureaus, you must retain Send2Press as the original wire service source. You may capture and self-host images linked to in above release, but do NOT stream from our server. ......... The original version of this release was issued on behalf of the above organization (the "news source"), by Send2Press(R) Newswire, a service of Neotrope(R). http://www.Send2Press.com/ ......... APRIL 2009 Press Release / S-IND US=OH / pre = / ytv = / agency = Depth Public Relations, LLC / keywords = identity theft, red flag rules, facta compliance, mortgage brokers, identity theft protection, idbusiness, majestic security, bryan thornton