CoreLogic Introduces Fraud Management Platform

CoreLogic, a provider of consumer, financial and property information and business services, introduced the next generation of LoanSafe Fraud Manager, a customizable platform that builds upon the CoreLogic LoanSafe Fraud Manager and empowers lenders with more access, speed and control over their fraud management systems. LoanSafe Fraud Manager leverages patented pattern recognition technology and offers comprehensive business intelligence and decision-making by harmonizing data, analytics, policy, strategy and operational workflow. This Web-based platform makes mortgage fraud prevention easily adaptable by fraud managers by minimizing reliance on information technology departments to address the everyday needs of fraud prevention teams. "CoreLogic is again raising the bar on fraud by giving lenders the power to adapt their strategies and policies to respond within minutes as new fraud schemes appear," said Tim Grace, senior vice president, Fraud Analytics, at CoreLogic. "New and sophisticated mortgage fraud schemes can emerge overnight. We want to empower lenders to be able to stop those schemes through their own flash fraud rules and alerts. With next generation LoanSafe Fraud Manager, lenders can change their rules, add an alert or change a workflow within minutes of finding a new fraud trend." Once lenders have identified the population of loans that most need attention, LoanSafe Fraud Manager prioritizes and determines the optimal action steps needed for each. The fraud manager's ability to create strategies that combine scores and alerts along with action steps for the analyst that are specific to each lender's best practices helps ensure that the optimal group of loans is worked in the best way in every instance. Operational workflow is optimized by ensuring fraud prevention is repeatable and reproducible every time, as directed by the system and the lender-supplied best practices. An interactive workspace presents loan, borrower and collateral information within an easy to use browser-based interface. This workspace includes clickable, drill down information on all relevant fields (e.g., Social Security number, address, phone, etc.) and gives access to a customizable menu of third-party tools (e.g., maps, verifications, reverse lookups, etc). Next generation LoanSafe Manager includes user-friendly screens that summarize integrated loan risks, integrated risk action and disposition details. LoanSafe Fraud Manager offers flexible integration with internal and external systems while minimizing IT involvement. A white paper on "The Next Generation of Fraud Management" provides more detail on limitations of current fraud prevention technologies and how lenders can now be in control of their fraud prevention management system. For additional information, please visit www.corelogic.com/nextgenfraud. For more information, visit www.corelogic.com.