First American CoreLogic launched a national fraud database to enhance the fraud detection abilities of its software and help clients combat mortgage fraud. The National Fraud Database includes application and transaction data of more than 80m loan applications, representing 65% of all loan annual applications, aggregate fraud reports from 35 lenders and investors, with performance data history dating back to 2005. It will be updated daily with application and lien information from 17 lenders within First American’s Multi-lien Closing Alert Program. “The best scoring and analytic products stem from and rely upon robust data assets,” said Tim Grace, senior vice president of Fraud Analytics at First American CoreLogic. “As the number of participants and reporting companies grow, it will make fraud risk more transparent and make it harder for perpetrators to carry out fraudulent activity,” he added. Santa Ana, Calif.-based First American CoreLogic is the property and ownership information provider subsidiary of The First American Corporation (FAF). Write to Austin Kilgore.
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