Clarity Services Offers a Powerful Trifecta to Help Storefront and Online Lenders

    CLEARWATER, FL, July 16, 2015 /24-7PressRelease/ -- Clarity Services, Inc., the leading real-time subprime credit bureau providing fraud detection and credit risk management solutions assists storefront and online lenders become compliant with new proposed government regulations by way of Clear Ability to Pay, Clear Recent History, and the Clarity Portal.

With proposed regulations suggesting that lenders verify a consumer's ability to repay prior to funding loans and adhere to a 60-day cooling off period between loans, Clarity's Clear Ability to Pay and Clear Recent History provides lenders with visibility into a consumer's financial obligations, summary of loan activity, needed visibility into loan activity in the last 90 days, and easy access to submit and review loan reports.

Clear Ability to Pay provides lenders with a unique view into an applicant's financial situation with key data such as reported income, housing, employment and estimated cash flow. Working in conjunction with Clear Recent History, the two products further enhance visibility by providing current financial obligation information and a summary of loan activity over the past 90 days. To facilitate access, Clarity customers will be able to access the Clarity Portal, a web-based platform where lenders may review and submit new transactions. These products create a synergistic approach to evaluating an applicant's ability to repay, their number of outstanding loans, and whether the applicant can take on additional financial obligations within a given time period.

"Clarity continues to bring innovative products to the marketplace. With Clarity Portal, we are able to deliver a one- stop shop solution for our storefront lenders. They can process a loan transaction in an automated manner and in real time. Additionally, with Clear Recent History and Clear Ability to Pay in the waterfall, Clarity will cover the needs to meet the new opportunities with the proposed regulations." Lan Luangsouphom, Director Product Management.

About Clarity Services, Inc.
Clarity Services, Inc. provides powerful real-time fraud detection and credit risk management solutions for the non-prime and thin/no file consumer segment. By leveraging unique data assets and scores, Clarity Services' suite of FCRA regulated reports and scores empower providers with visibility into critical consumer information not available on traditional bureau reports. For more information about Clarity Services, visit clarityservices.com.

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