Jay Meadows is co-owner, chief executive officer (CEO) and president of Ft. Worth, Texas-based Rapid Reporting Verification Company. He founded the company in 1998 with executive vice president and chief operations officer (COO) Ray Petta, and oversees all aspects of the business, including product development, operations, support and sales of their products to combat fraud in the mortgage industry.
Meadows, an eminent fraud expert, has spearheaded many of the efficiencies the mortgage industry currently enjoys. Working with the IRS, he helped transform an IRS process to shorten the turnaround time on tax transcripts for income verification purposes from two or more weeks to 24 hours, enabling mortgage lenders to use income verification as a pre-funding tool.
Under Meadows' direction, Rapid Reporting became the first private sector company in the United States to initiate a program with the Social Security Administration (SSA) to authenticate Social Security numbers against the SSA database. After three years of lobbying in Washington, D.C. for improved identity fraud prevention methods, Meadows launched DirectChek, which provides a match/no match of an authorized name and Social Security number to the SSA database, as well as valuable public and private database information, creating the most definitive identity verification product available today.
Prior to founding Rapid Reporting, Meadows was a successful broker in the securities industry for 11 years. A frequent speaker at industry meetings and fraud conferences, he is a member of the Mortgage Bankers Association of America, the MBAA Fraud and Ethics Subcommittee and various other professional associations.
In 2007, Meadows was named to Mortgage Banking Magazine list of IT All-Stars in recognition of his prominence and contributions to the industry's technology. He is a frequent speaker at major industry conferences and is often quoted in the press.
Meadows earned a Bachelorís degree in business administration from Texas Christian University in Ft. Worth, Texas. A former TCU baseball player, he is an active member of the TCU Lettermanís Association, founded the Ft. Worth Cats baseball program for high school students, and served as a member of the Fellowship of Christian Athletes Speakers Bureau. In 2003, Meadows received the National Leadership Award from the National Republican Congressional Committee.