Industry NewsMortgage

CoreLogic updates fraud platform

Lenders can change LoanSafe detection tools on the fly

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The latest version of CoreLogic's LoanSafe Fraud Manager gives lenders the ability to change fraud detection rules in minutes as they spot new trends employed by fraudsters, the company says.CoreLogic says the Web-based fraud detection platform employs pattern recognition technology and analytics to determine which loans to review. Giving lenders the ability to change the detection rules that generate alerts allows them to adapt quickly to changing situations, without having to go through their information technology departments, the company said."New and sophisticated mortgage fraud schemes can emerge overnight," said Tim Grace, CoreLogic senior vice president, fraud analytics, in a press release. "We want to empower lenders to be able to stop those schemes through their own flash fraud rules and alerts."In a white paper, CoreLogic said lenders can also adjust their internal policies and strategies for handling loans that are flagged for review, which may vary from...