| Acquired by | Equifax |
| Price | $72.5M |
| Date | 11/09 |
| Terms | Cash |
| Website | https://www.rapid... |
| Category | Software |
| Phone | 817-737-4411 |
| Employees | |
| Founded | 1998 |
Founded in 1998 and headquartered in Fort Worth, Texas, Rapid Reporting is a national provider of definitive income, identity and employment verification services for mortgage lenders to help combat fraud. In 2007, the company won the 2007 Fix-It Award for a technology solution that solves an industry problem. Core offerings include IncomeChek, which is used to verify income through information obtained from the Internal Revenue Service (IRS), DirectChek, which meets USA Patriot Act compliance and verifies identity via a direct comparison of the SSN to the Social Security Administration (SSA) database and searches of over 15 billion records in public and private databases for identity fraud and abuse, and EmploymentChek, the company’s newest offering that combines live, person-to-person telephone contact and comprehensive database research to verify borrower employment. All services operate over a secure Web-based portal, which is audited daily for security purposes, and both IncomeChek and DirectChek are available through RapidChek, a web services platform that allows companies to access both solutions through a single interface. Rapid Reporting formed and continues to build relationships with government agencies, such as the IRS and the Social Security Administration (SSA), to gather electronic data for verification purposes. Rapid Reporting’s executive team led the successful lobbying efforts to secure the continuation of the enumeration verification system (EVS) with the SSA database.
