Industry News

Fraud-fighting technology offers help to mortgage lenders

CoreLogic tool uncovers suspicious borrower patterns

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As reports of mortgage fraud, identity theft and other financial crimes are on the rise, new tools are coming on the market to help lenders fight and manage borrower fraud. Sacramento, Calif.-based CoreLogic, a provider of mortgage risk assessment and fraud prevention technology, has developed a tool to help lenders manage borrower fraud, the company said today. The tool, IdentityPro, assesses a borrower's likelihood to commit the type of mortgage fraud most likely to cause financial loss by using state-of-the-art behavioral analysis that reveals suspicious patterns. "It's a more robust engine than other products out in the marketplace right now, because it goes beyond the basics of Social Security number verification and identifying misrepresentation," said Felice Kesselring, director of product development for CoreLogic. "It diagnoses a borrower's buying and living patterns, looking for the type of activity that can be correlated to the risk associated specifically with fraud for p...