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In contrast to most systems that present an outdated ‘database of record,’ RELAY employs a universal data model, using its proprietary Conductor technology, to integrate various systems and applications into a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.