Analytics firm CoreLogic (CLGX) is touting a new partnership with FICO as a way to enhance lenders’ ability to detect mortgage fraud. Incorporating FICO’s Origination Manager 4.0 system into its LoanSafe fraud manager platform will create a more advanced fraud detection system that offers timely alerts, case management tools and increased accessibility to lenders looking for hidden risks on loans going through the origination process, CoreLogic said. Through the enhanced system, lenders will be able to write their own rules when creating fraud alerts, change steps in the detection process, create the steps analysts need to follow when dealing with risky applications and roll out new processes that can continually be updated to ensure best practices in detecting mortgage fraud. “By leveraging technology provided by FICO, we are bringing new best-in-class fraud prevention capabilities to lenders more quickly, and continuing to revolutionize the way fraud is prevented in the mortgage industry,” said Tim Grace, senior vice president of product management and analytics at CoreLogic. “Lenders can now make better use of CoreLogic data assets to create and modify fraud alerts, which helps lenders speed their response to new and emerging fraud trends and schemes.” Write to Kerri Panchuk.
CoreLogic adds FICO software to fight mortgage fraud
Most Popular Articles
Latest Articles
Labor market report is good news for mortgage rates
Friday’s jobs report came in as a miss of estimates and wage growth came in lower than expected, which is good news for mortgage rates.
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts
-
NAR settlement terms slated to go into effect in mid-August