Episode 2: Is Reworking Credit Application Info Legal? | Gil Van Over, Mosaic Audit Services
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About the episode
In this episode of Is It Compliant, host Kate Spatafora talks with Gil Vanover III, Deal Audit Specialist, founder of DVO3 & Associates, and president of Mosaic Audit Services, about a troubling practice some dealership staff may encounter — reworking credit application information before submitting it to a lender. Gil explains why this is not only non-compliant but a violation of federal law, often classified as bank fraud. He outlines the five key credit determinants that lenders monitor closely, the serious legal consequences of altering any of them, and why this behavior is far from harmless. From customer harm and repossessions to lender losses and dealership reputation damage, Gil makes it clear that bank fraud is never a victimless crime. This episode delivers a powerful reminder that compliance is about protecting everyone — from your customers to your business.
