Jeff Taylor, Co-Founder & Managing Director at Digital Risk, an Mphasis Company, was recently quoted in US News and World Report in the article titled “How a New Law Will Let You Freeze Your Credit Files for Free” talking about the Economic Growth, Regulatory Relief and the Consumer Protection Act.
Credit freeze provisions are “a small step in the right direction,” says Jeff. It will help protect borrowers from identity theft, but also cations that a credit freeze is not a cure-all for identity theft.
“We have the tightest [housing] inventory we’ve had in a couple decades,” Jeff goes on to say. Homebuyers who need to quickly get preapproval for a property in a competitive market could find the process of unfreezing credit to be cumbersome. “It could slow down the speed at which you can proceed.”
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