Obtain a military covered borrower status indicator

Equifax MLA solutions return an applicant’s military status, giving customers valuable insights to help determine which credit terms to offer and enabling them to qualify for “safe harbor” protection under the MLA Final Rule.

Benefits

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Helps Ensure Safe Harbor Compliance With MLA
The MLA Final Rule grants “safe harbor” to lenders if MLA covered borrower status is obtained before origination or closing.
Time
Saves Time
Provides an efficient option for performing required status checks prior to a loan origination or closing.
People
Optimizes Resources
MLA status checks can be obtained in the same request as an applicant’s consumer credit report, or as a standalone request without a consumer credit report instead of performing checks internally.

Key Features

    • circled-check
      Verifies military status of borrowers
    • circled-check
      Retrieves status checks in the same request as an applicant’s consumer credit report, or as a standalone request without a consumer credit report
    • circled-check
      Helps lenders qualify for “safe harbor” protection under MLA Final Rule

Use Cases

MLA is for business customers who need to:
  • Verify a consumer’s military status as part of the credit application process.
  • Make prompt, informed decisions at the credit application stage.

Types of business and industries that use MLA include:
  • Banks / Credit Unions / Mortgage 
  • Retail
  • Automotive
  • Pawnbrokers

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