CoreLogic, Blueberry combine mortgage-fraud systems
CoreLogic (CLGX) agreed to integrate its mortgage-fraud prevention software with the Blueberry Systems loan-production platform. Under the new pact, financial terms of which weren't disclosed, the CoreLogic LoanSafe fraud-management suite will be folded into Blueberry's RELAY loan-production platform. CoreLogic provides financial and property analytics and services, while Blueberry develops software for the financial services industry. The two companies believe the integration will help lenders move acceptable loans through the origination process, sifting out problematic loans and directing them to the appropriate loan specialist. Lloyd Booth, president of Colorado-based Blueberry Systems, said the integration is an attempt to tackle the two biggest issues facing the mortgage industry: data quality and fraud. "Even if the data entered is complete and remains intact, garbage in is still garbage out," Booth said. "Loan data still needs to be authenticated at some point, especially as today’s lenders are struggling to regain the trust of investors. Our integration with LoanSafe fraud manager addresses the truthfulness of loan data, and will help lenders regain that trust." Write to Jon Prior.