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CoreLogic and LexisNexis Partner on Mortgage Fraud Prevention

NationalMortgageProfessional.com
Jul 14, 2011

CoreLogic, a provider of information, analytics and business services, has announced an expansion of its relationship with LexisNexis to fuel LoanSafe Fraud Manager with consumer identity, business and assets data. LexisNexis’ FraudPoint Attributes and FraudPoint Score are now accessible within the customizable, Web-based LoanSafe Fraud Manager platform and will give lenders a more holistic view of applicants’ identity information to enable better fraud- and risk-based origination decisions. “When dealing with risk mitigation and fraud prevention initiatives in the mortgage industry, the more you know about a person, the better assessment you can make about the likelihood that the applicant information is false,” said Avivah Litan, vice president and analyst at Gartner, a technology and research firm. “It will be prudent for lenders to incorporate solutions that intelligently analyze consumer identity data and take the leap from strategic aspiration to curtail fraud–related losses, and make it operational.” LexisNexis leverages patented linking and matching technology along with more than 10,000 data sources, providing the largest base of commercially available public record data and proprietary information available on consumers, businesses and assets in the market today. “Identity issues account for over 10% of the fraud problem plaguing the Mortgage industry today," said Tim Grace, senior vice president of product management and analytics at CoreLogic. "The addition of vital consumer-identity behavior information, identity flags and attributes empowers mortgage lenders that use the next generation LoanSafe Fraud Manager platform to drive more efficient, actionable alerts, to more quickly respond to evolving regulations and to stop emerging fraud schemes. Integrating identity data from LexisNexis as part of our next generation offering demonstrates our commitment to delivering powerful risk mitigation products for mortgage lenders.”  
Published
Jul 14, 2011
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