Kroll Factual Data Rolls Out Borrower Verification Tool
Kroll Factual Data said Friday that it had expanded its suite of risk assessment services with the release of ActionFacts, a new tool that will help mortgage lenders comprehensively verify and assess applicant income and employment information, as well as assets and liabilities. The tool is designed to control common areas of borrower-led fraud, including misrepresentation of income and employment. "ActionFacts will provide our clients with the ability to compare employment and income data for each applicant to the business and income evidence data collected from the data sources," said Jeff Gentry, vice president of Kroll Factual Data. "ActionFacts will help determine possible misrepresentation as well as verification and assessment of assets and liabilities." ActionFacts joins Kroll's larger risk managmeent platform, which includes tools to identify borrower and property value misrepresentation, loan party collusion, as well as conflict of interest, and non-arms-length transactions for every participant involved in a mortgage loan. For more information, visit http://www.krollfactualdata.com.