Industry NewsMortgage

Lenders pool loan data to detect fraud

Database now includes 80M loan applications
Published on Oct 1, 2010

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by CareyBot

Lenders who originate 70 percent of U.S. mortgages are now participating in a loan monitoring program operated by data aggregator CoreLogic to help detect short-sale "property flops" and other mortgage fraud, the company says.

Lenders participating in CoreLogic's Mortgage Fraud Consortium contribute their loan information to a database that currently houses more than 80 million loan applications and is growing by eight to 10 million applications per year, CoreLogic said.

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