Truthfully, there hasn't been 1 case brought to our attention involving RON. I don't think there are multiple ways of fraud personally, as they ask them multiple screening questions, just like when we access our credit reports or do a BGC, their face is recorded as showing the DL or other ID.
We'd like to believe that, and we hope for that, but if someone can find a case where it went off the rails, I'd love to read or hear about it. The majority of the country is doing them, you'd think out of all those something even 1 would be presented by now.
I don't plan on doing them, but truthfully the involvement of people actually verifying someone's ID has more risk than RON. Take yourself out of the equation and common sense tells us that a person who has access to someone's most personal financial documents and identity has a far greater chance of wrongdoing to that individual than a RON screening and closing. For that reason, I see RON moving forward. Many states including FL have been doing them for years with not one negative activity reported so far. For that reason, I soon believe all 50 states will be in unison and it will be a new accepted practice for all. jmo |
