Technology targets real estate fraud

Veros Software and First American Real Estate Solutions will co-host the fourth annual Predictive Methods Conference June 28–30, at the Four Seasons Hotel and Resort in Newport Beach, Calif.

Automated valuation models known as AVMs, fraud detection models and other automated analytical products have proliferated in the mortgage business in recent years and continue to be important tools for major and midsize mortgage corporations.

This year's conference features speakers from national lending companies who will share their experiences and provide insight as to real-world approaches and applications of these automated processes and mortgage analytics. This year's speakers and moderators represent Wells Fargo, Freddie Mac, Standard and Poors, Washington Mutual, GMAC-RFC, Bank of America, Household Finance, JP Morgan Chase, ABN-AMRO and Goldman Sachs, among others. Attendees represent senior-level officers and management from these and such other institutions as Fannie Mae, Countrywide, Wachovia, Bank One, National City Mortgage, New Century Mortgage and Option One, according to a statement today.

Irvine, Calif.-based Veros provides automated valuations. The company currently delivers property valuations in 40 states and 600 counties nationwide. VeroValue generates property fitness analytics, fraud detection, price trend information and secured valuations, and VeroForecast estimates future values and market stability.

First American Real Estate Solutions is a First American company. Its database covers 2,000 U.S. counties representing 95 percent of the nation's real estate transactions. Its products are used to improve customer acquisition and retention, detect and prevent fraud, improve mortgage transaction cycle time and cost-efficiency, measure the value of residential and commercial properties, identify real estate trends and neighborhood characteristics, track market performance and increase market share.

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