Kroll Factual Data, a subsidiary of Kroll Inc. and a provider of customized mortgage services, said Wednesday it had expanded its suite of risk assessment services with the release of FactualID, a fraud identification platform. The tool evaluates identity risk, occupancy risk, strawbuyer risk, and also searches the OFAC, Palestinian Legislative Council (NS – PLC), and other exclusionary lists.
“FactualID comprehensively identifies borrower misrepresentation in real time by combining our innovative, proprietary fraud analytics with unrivaled access to public record databases,� said Jeff Gentry, vice president of Kroll Factual Data. “Designed so that mortgage lenders can efficiently and effectively manage their risk exposure, the overall results are converted into an easy-to-manage numerical risk score of 0 – 100.� FactualID was developed by Kroll Factual Data's risk mitigation team, which is comprised of experienced product designers, architects, analytical experts and product specialists. An expansion of its successful risk assessment services, FactualID joins CollateralFacts, which protects lenders against property value misrepresentation, as an available tool within the suite of risk assessment services. “Kroll Factual Data's set of tolerances for identifying potential misrepresentation are based on the best industry practices and unparalleled experience in the development of fraud detection and risk mitigation solutions," said Dave Vinson, senior vice president of Kroll Factual Data. “Kroll Factual Data's state-of-the-art risk assessment services comprehensively identify misrepresentation throughout the lending process – and protect lenders from losses due to non-performing and repurchased loans.� For more information, visit http://www.krollfactualdata.com.