Financial Institution Reporting System
The Financial Institution Reporting System (FIRSt), the LexisNexis® loss payee notification service, is a complete, outsourced solution for producing and delivering lien holder, mortgagee and additional insured notices.
Customers can achieve substantial savings in their loss payee notification expense by taking advantage of our economies of scale, while simultaneously reducing risk, increasing operational efficiency, improving customer service and virtually eliminating returned mail.
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Benefits
Increase Profitability
Lower the cost of processing financial institution notifications by 50 percent of more.
Virtually Eliminate Returned Mail
Our extensive financial institution database and rigorous returned mail process can decrease returned mail rates to 0.1 percent.
Raise Operational Efficiency
FIRSt handles notice production, proof of mailing and delivery, returned mail and compliance, allowing carriers to focus elsewhere.
Reduce Risk
More notifications delivered to the right place the first time means fewer inquiries, complaints and potential claims.
Create Synergy
All LexisNexis insurance verification products are available through a single interface.
Financial Institution Reporting System does not constitute a "consumer report" as that term is defined in the federal Fair Credit Reporting Act, 15 USC 1681 et seq. (FCRA). Accordingly, Financial Institution Reporting System may not be used in whole or in part as a factor in determining eligibility for credit, insurance, employment or another permissible purpose under the FCRA.
Due to the nature of the origin of public record information, the public records and commercially available data sources used in reports may contain errors. Source data is sometimes reported or entered inaccurately, processed poorly or incorrectly, and is generally not free from defect. This product or service aggregates and reports data, as provided by the public records and commercially available data sources, and is not the source of the data, nor is it a comprehensive compilation of the data. Before relying on any data, it should be independently verified.