Skip to main content

First American Launches AppIntelligence Score For Mortgage Fraud

Navi Persaud
Feb 04, 2021
Generic technology photo featuring motherboard.

First American Data and Analytics, a division of First American Financial Corporation, launched its AppIntelligence Score fraud solution. AI Score is a fraud pattern-recognition score that gives high-volume lenders and investors the ability to more precisely identify the risk of fraud and early payment default, on both mortgage applications or a portfolio, according to a press release.

The tool uses proprietary predictive modeling to find a more clear understanding of where fraud and early payment default risk are likely to occur.

"For example, loans with the highest AI Score, usually about 10% of total application volume, account for 50% or more of total fraud risk. This targeting enables lenders to focus their reviews on the most at-risk loans, while streamlining loan approvals and reducing operational costs," according to the release.

AI Score also has a retro-scoring capability, which gives lenders the ability to run a portfolio to identify which loans would have been flagged by the model. Lenders can also set their own risk tolerance with AI Score's scale.

"The ability to analyze millions of alerts that underwriters have cleared, and then feed that information back into the model, is what makes the AI Score one of the most sophisticated models on the market," said Robert Karraa, president of First American Data & Analytics. "By targeting the most at-risk loans, AI Score will help lenders streamline the number of review cycles and still uncover the highest risk areas of fraud."

Feb 04, 2021
More from
Blend Launches New Income Verification Product

Blend Income Verification is a new product for financial services firms that provides instant income verification for mortgages and soon, consumer loans and deposit account opening.

Oct 21, 2021
ICE Mortgage Announces 0 Percent Loans For HFA Borrowers

ICE Mortgage Technology's latest Encompass update, Encompass 21.3 supports the ability for lenders to offer 0% loans.

Oct 20, 2021
FormFree Taps Amazon Web Services For Consumer Financial Identity Solutions

FormFree will use Amazon's blockchain technology to manage its latest consumer Financial DNA solution and its newly introduced FormFree Exchange.

Oct 19, 2021
Wemlo Introduces Third-Party Processing Solution

Wemlo announced the first third-party mortgage processing solution, Loan Brokering System.

Oct 18, 2021
ICE Unveils Transaction-Based Indices For Residential Mortgage Interest Rates

Intercontinental Exchange Inc. launched its suite of U.S. residential mortgage locked rate indices.

Oct 18, 2021
SimpleNexus Unveils Nexus Pay With In-App Payment Capabilities

SimpleNexus announced its upcoming Nexus Pay feature for mortgage loan applicants. The company is planning to do a full unveiling at the Mortgage Bankers Association's Annual Convention and Expo.

Oct 13, 2021