Financial, property and consumer information provider CoreLogic has added new capabilities to its LoanSafe mortgage fraud detection solution that allow loan underwriters and analysts to track and review audit reports in real time.
The Irvine, California-based provider of business intelligence and analytics technology has enhanced its LoanSafe Risk Manager and LoanSafe Fraud Manager platforms with LoanSafe Connect, a Web-based portal that enables users to follow audit actions as they happen and work collaboratively with other users involved in the fraud review process.
LoanSafe Risk Manager combines industry data, analytics and pattern recognition technology into one risk mitigation report. LoanSafe Fraud Manager quickly identifies fraud risk prior to funding a loan with patented predictive analytics scoring, or analyzes an entire portfolio to take proactive steps to prevent early payment defaults and buybacks.
“Lenders and investors rely on LoanSafe to identify potential fraud and collateral risk factors associated with the loans they are originating or acquiring. But until now, there was no seamless way to capture the steps taken to investigate and remediate these risks,” said Susan Allen, senior vice president of mortgage analytics at CoreLogic.
Using LoanSafe Connect’s secure portal, users can now make electronic notations and document actions they have taken to clear alerts delivered by these other platforms, creating an audit trail of any review activities. The risk management process is then exported into a final alert report.
CoreLogic serves the real estate, mortgage finance, insurance and capital markets, as well as the public sector. The company’s combined data from public, contributory and proprietary sources includes more than 3.5 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information.
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