Skip to main content

CoreLogic and Blueberry Systems partner to combat mortgage fraud

Sep 13, 2010

CoreLogic, a provider of consumer, financial and property information and business services, has announced the integration of its LoanSafe Fraud Manager Suite with Blueberry Systems’ RELAY loan production platform. LoanSafe Fraud Manager is now directly integrated into the RELAY workflow, so that acceptable loans continue through unimpeded while problematic loans are automatically directed to the appropriate user. As a result, RELAY users will now enjoy a higher mortgage fraud prevention rate with fewer resource requirements. “There are three facets to data integrity,” said Lloyd Booth, Blueberry Systems president. “Completeness, accuracy and truthfulness. Traditionally, LOS vendors have focused only on the first two. Even if the data entered is complete and remains intact, garbage in is still garbage out. 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.”   “Blueberry Systems has made a major step toward moving fraud prevention to the front of the loan production process,” said Tim Grace, senior vice president, fraud analytics for CoreLogic. “Integrating LoanSafe Fraud Manager into the mortgage workflow enables lenders to comply with Fannie Mae, Freddie Mac, and other mortgage investors' requirements while significantly reducing the need for human interaction. This integration makes mortgage loan processing faster, cheaper, and optimally efficient." “RELAY was designed to ensure data accuracy throughout the lifecycle of the loan,” said Booth. “With this integration, we’re tackling two of the biggest issues facing the mortgage industry right now: Data quality and fraud. Automated fraud analysis will give lenders a distinct advantage in maintaining the highest loan quality standards.” In contrast to most systems that present an outdated ‘database of record,’ RELAY employs a universal data model, using its proprietary Conductor technology, to integrate various systems and applications into a single workflow, eliminating data silos and the need for duplicate or staggered data entry. And while most systems only make the most recent loan data available at any given time, RELAY’s universal data model makes available the various states of data as the loan evolves, in real time, and highlights discrepancies. The bottom line is much higher data quality that prevents costly pricing variances and buybacks. For more information, visit www.BlueberrySystems.com or www.corelogic.com.  
About the author
Published
Sep 13, 2010
Fannie Mae Implements Notice Of Potential Defect Process To Address Loan Repurchase Risks

Faced with market challenges, Fannie Mae reintroduces a Notice of Potential Defect, allowing lenders a grace period to rectify significant loan issues before repurchase requests, amid calls for broader industry reform.

Feb 29, 2024
Rocket Pro Originate Mortgage Platform To Close; Shifts Focus To Mortgage Brokers

Rocket Pro Originate, a platform serving real estate agents and financial professionals, announces closure.

Feb 28, 2024
United Wholesale Mortgage Reports Fourth Quarter Loss Of $461 Million, But Remains Bullish For 2024

UWM Chairman and CEO Mat Ishbia optimistic despite financial setback, cites operational profitability and broker dominance.

Feb 28, 2024
Condo Prices, Sales Falling In Florida

New regulations and rising insurance costs hold back buyers in six major metros.

Feb 26, 2024
Buyer Beware

Unpriced climate risk the housing market’s bubble in the bloodstream.

Feb 26, 2024
Rocket Companies Reports Decline in Fourth Quarter Revenue, Projects Optimism for Future Growth

Despite revenue dip, mortgage giant sees increase in market share and advances in AI technology.

Feb 22, 2024