SageStream LLC

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution does the bare minimum to be satisfactory to me. The business did contact me with regard to my Revdex.com inquiry, though I was also told that the company was experiencing "high call volumes", which is why it might have otherwise taken a long time to return my calls. And I don't mean weeks or months - I mean ever. I am still of the firm belief that the Revdex.com's high rating is undeserved, and would ask that the Revdex.com independently make several random calls to their stated phone number on the behalf of customers to see whether they ever get a response. The Revdex.com's rating should not be reflective of only the people that contact the business through the Revdex.com. I'm particularly assertive, but I have many friends that are not, and the artificial friction this company adds to the process makes it that much harder to take advantage of the right given by the Fair Credit Reporting Act. It does not bode well that the Revdex.com didn't even have the correct phone number listed. Additionally, though I was happy to be verified by phone and have the security freeze placed and a consumer report sent, I was relatively unhappy with the cryptic details surrounding how the agency chooses a score. I should mention that the person who called me was very polite and nice, and I appreciated her time and explanations. I'm not complaining about my personal experience as much as I'm trying to offer constructive criticism about what this company minimum responsibilities should be. I was told that this score would be ~200 lower than my FICO score, because they thought the higher ranges of FICO were overrepresented. So instead, they don't give scores above 600, and change the scale from 0 - 999. I asked what the difference was between 400 and 600, and whatever algorithm they use wasn't clear enough to answer that question. Clarity is important - it helps the company deciding whether or not to give me credit, and it helps me understand why I denied. Without clarity, anybody could offer a random number and it'd would be just as good. I hope to never hear this company's name again because the service they provide is at best verification of identity, with the possibility of error, and at worst, a cryptic understanding of what credit lines the person has applied for. I'm really not pleased, but they did the two things I asked for in my complaint, so if they follow through on sending me my consumer report I will consider this completed.  
Regards,
[redacted]

In her complaint #[redacted], Ms. [redacted] has stated that her request for a security freeze had not been processed for missing information and that she was not able to reach a representative when she called. We addressed her concerns as follows: SageStream, LLC (“SageStream”) is a consumer...

reporting agency which is governed by the Fair Credit Reporting Act, 15 U.S.C. §§ 1681, et seq. (FCRA) that prepares consumer reports and credit scores for its clients who are typically lenders and other credit-granting companies.  While SageStream provides credit scores and score factors to credit grantors, SageStream does not make credit decisions nor does it have visibility into a credit grantor’s criteria for granting or denying any applicant. Prior to providing a consumer report or security freeze, a credit reporting agency is bound by the FCRA to confirm the identification of the requesting consumer.  This requirement is designed to help reduce the risk of a consumer becoming the victim of fraud or related crime, including identity theft, which could result from misidentifying the consumer.  Unfortunately, the identification documents Ms. [redacted] faxed to SageStream were not clear and we were unable to verify her identity. On 9/27/2017 a representative reached out to assist Ms. [redacted] with her request for a security freeze. The representative was able to explain the situation and offered to verify her identity by telephone. Ms. [redacted]’s identity was verified by telephone, and a security freeze was processed for her right away.  A confirmation letter was sent out to Ms. [redacted]’s address on 9/27/2017. We do apologize if this has posed any inconvenience to Ms. [redacted]. If Ms. [redacted] has questions regarding her security freeze from SageStream or have her identity verified over the phone, she may call the SageStream Consumer Office toll-free at [redacted], Monday – Friday 9:00 AM to 5:00 PM (Pacific Time) or visit our website, [redacted] for information.

A SageStream representative spoke with Mr. [redacted] on November 2, 2016 and explained the information used to create the credit score received by the lender. A security freeze was placed on his file, and his consumer report and security freeze confirmation have been mailed to him.  We referred...

him to the lender for more information about their decision to decline his request for credit.

On June 21 and June 22, 2017,  a SageStream representative attempted to reach Ms. [redacted] at the phone number she provided with her complaint.  A message was left each time requesting that she return our call so that we could address her concerns; however, we did not receive a return...

call.  On June 27, we mailed a letter to Ms. [redacted] (attached) which explained our attempts to reach her, and the letter provided information to address her concerns about who SageStream is, why her SageStream score is different than her score from other consumer reporting agencies, and we encouraged her to contact us to request her consumer report from SageStream.

12/10/2015
 
Revdex.com San Diego, Orange and Imperial
CountiesAttention [redacted]
 
RE: Revdex.com Complaint [redacted]
 
Thank you for your
notice of the Revdex.com complaint that was submitted by the consumer [redacted] on 11/30/2015
and forwarded on 12/1/2015.
 
By...

way of
background, SageStream obtains information about a consumer when an application
for credit is submitted to one of SageStream’s financial services
customers.  As with other credit
reporting agencies, this information is provided to SageStream, who then
returns a credit score.   SageStream does
not make credit decisions or otherwise participate in the credit review
process. 
SageStream
provides consumer disclosures in response to a written request by the consumer
as explained more fully on our website. 
A credit reporting agency’s obligations with respect to consumer reports
is governed by the Fair Credit and Reporting Act, 15 U.S.C. §§ 1681, et
seq.  Prior to making any disclosures, a
credit reporting agency is bound by the FCRA to confirm the identification of
the requesting consumer.  SageStream
accepts multiple forms of documentation to verify a requesting party’s
identity.  SageStream maintains a secure
and dedicated fax for submission of identifying documentation at 858-312-6275.  The SageStream Consumer Office provides
secure delivery of consumer documentation and/or will consider alternative
submission methods.  
SageStream LLC finds
that often the best approach is direct contact with the consumer to address any
concerns. 
On 12/1/2015,
SageStream called the consumer to answer his questions and concerns. We
explained that regular written requests for a consumer disclosure report
require the provision of only two documents chosen from the list of
documentation which is required to verify an identity.
 
In special
circumstances, an identity can be verified over the phone. The consumer
accepted this method and his identity was verified. We disclosed the
information in his consumer report and explained the process to correct any
information that he disputed as inaccurate or incomplete. We also sent by
postal mail a copy of his consumer report for his review.
 
The timely response,
explanation of the process, and consumer report information from SageStream seemed
to be appreciated by the consumer and he considered the matter settled.
 
After complaint was
submitted and settled, SageStream received a letter on 12/7/2015 from the
consumer that was dated 11/30/2015 requesting his consumer report. His letter
included a copy of both his driver license and social security card, with a
copy of the credit denial letter, to comply with the SageStream requirements of
two documents that we use to verify an identity.
 
If the consumer has
further questions, he is encouraged to contact our Consumer Office at
888-395-0277 between 9AM and 5PM PT for a representative.
 
Best regards,
SageStream LLC

Dear [redacted], SageStream did not receive notice from the Revdex.com of the complaint filed by Mr. [redacted] until July 18, 2016.  In your notification, instructions provided are to respond within 10 calendar days “of the date of this letter,” which we understood to be the date we received the Revdex.com...

notification.   If response is required within 10 calendar days of the date the complaint is submitted to the Revdex.com, it would be helpful to clarify this in your notifications to businesses. SageStream responded to Mr. [redacted]’s concerns in a letter dated July 28, 2016 and explained that SageStream, LLC is a consumer reporting agency which is governed by the Fair Credit Reporting Act, 15 U.S.C. §§ 1681, et seq. (FCRA) that provides consumer reports (scores) to credit issuers allowing them to assess creditworthiness, as well as prevent identity theft and fraud.  In addition to a credit score, SageStream may provide one or more key factors having the most impact on a score.  In our letter we explained to Mr. [redacted] why his credit score can vary from one consumer reporting agency (CRA) to another based on the score model used and the different information each CRA could have.  We encouraged Mr. [redacted] to obtain his consumer report (disclosure) and explained our obligation under the FCRA to verify his identity prior to providing him his report as well as the options SageStream has available to do so.  The letter also explained that while SageStream provided a credit score and score factors to the lender, SageStream did not make the credit decision described in his complaint nor does it have visibility into the lender’s criteria for granting or denying any applicant.  SageStream’s Consumer Office contact information was included in our letter, and we welcome the opportunity to provide Mr. [redacted] additional assistance or to answer questions he may have regarding the information provided in our response. Sincerely, [redacted], Vice President Credit Risk Solutions SageStream, LLC