Program snoops for short-sale 'flops'

System designed to detect unethical activity by agents

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Mortgage data aggregator CoreLogic has launched a monitoring program designed to help lenders detect short-sale "property flops" by alerting them when there’s more than one loan application pending on the same property.

CoreLogic’s Short Sale Monitoring Solution is also designed to uncover patterns of unethical behavior by real estate agents and others involved in short sales, the company said earlier this month in inviting lenders to join a consortium that is sharing loan application and transaction data in order to detect fraud.