Industry News

Next level of mortgage fraud insurance

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Two companies that offer services to the mortgage industry have partnered to offer a new mortgage fraud insurance product called DISSCO(TPG). AppIntelligence, a technology services provider, and The Prieston Group, which specializes in mortgage services related to fraud, announced the agreement today. The new relationship will serve to enhance the AppIntelligence's DISSCO front-end fraud detection and prevention product with extended loan-level data integrity tools from The Prieston Group, which offers an integrated suite of mortgage fraud protection, mitigation, and indemnification services, according to the announcement. The Prieston Group, founded in 1986, offers a proprietary Lender Representation & Warranty Insurance product, which protects thousands of lenders and over $50 billion in residential loans to date. A Prieston Group official said that it is believed that DISSCO can reduce fraud, and in turn reduce the severity rates on insurance claims. "That will result in a sig...