CoreLogic Announces 4th Mortgage Fraud Consortium Meeting to Tackle Emerging Fraud Trends

Key Contacts

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Dan Smith
Investor Relations
CoreLogic
(703) 610-5410
Email Dan Smith

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Alyson Austin
Corporate Communications
CoreLogic
(949) 214-1414
newsmedia@corelogic.com

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Gina Ray
PowerMark Group
(949) 370-0941
gray@thepowermarkgroup.com

January 18, 2012, Santa Ana, Calif. –

—Nation’s premier lenders to preview latest fraud prevention technology advancements and results from new benchmarking study on mortgage fraud prevention best practices—

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced its Winter 2012 Mortgage Fraud Consortium Members’ Meeting beginning January 23, 2012. The three-day meeting is a unique, member-driven forum that invites lenders responsible for more than 80 percent of U.S. mortgage originations to discuss emerging mortgage fraud trends, interact with industry experts and share best practices. The Consortium is a cooperative initiative of the industry’s top mortgage lenders formed for the purpose of jointly understanding, detecting, and preventing mortgage fraud more effectively than each lender can individually.

The keynote speaker is Rachel Dollar, a Certified Mortgage Banker and renowned attorney who represents lenders and secondary market investors in mortgage banking litigation matters. She is also editor of the Mortgage Fraud Blog, an acclaimed website for news and information on mortgage fraud and real estate fraud throughout the United States. Ms. Dollar will speak on the ongoing challenges of short sale fraud along with contractual provisions and litigation strategies to help attendees better define their approach to fraud loss recourse. She will also provide insight on recently litigated fraud cases.

“There is great value in lenders sharing data, information, and insights to identify common fraud trends,” commented Rachel Dollar, Esq., CMB, of Smith Dollar PC. “The CoreLogic Mortgage Fraud Consortium creates a secure forum for lenders to converse openly about pressing fraud issues. This is a very positive initiative for the mortgage origination industry as a whole because lenders, investors and consumers all benefit from better fraud management.”

“As the industry leader in fraud technology, data and analytics, our goal is to ensure lenders are well-informed about emerging mortgage fraud trends and equipped to effectively mitigate those risks. At this meeting, we will demonstrate the industry’s newest fraud prevention technology that enables lenders to leapfrog forward in their detection efforts. We will also provide attendees with an exclusive preview of our Mortgage Fraud Prevention Best Practices Study detailing lenders’ fraud prevention processes in origination and servicing,” stated Tim Grace, senior vice president of Data & Analytics Product Management at CoreLogic. “The results highlight strengths in key process areas as well as identify actionable gaps where criminals may potentially find opportunities.” The complete study will be released by the end of first quarter.

Additional guest speakers include Jerome Mayne, a convicted real estate criminal who will share his journey from CEO to prison in a presentation entitled, “Fraud & Consequences,” and Tim Gallagher, FBI section chief for Financial Crimes and the National Program Manager of the FBI’s White Collar Crime Program. In addition to the external speakers, five lenders will lead interactive presentations on the application of tools and techniques to:

  • Valuation fraud
  • Collusion and internal fraud
  • Origination fraud
  • Strategic default patterns
  • Fraud patterns in loan application data

The Mortgage Fraud Consortium was founded in 2008 and is the only national group of its size that offers complimentary membership along with member-driven data usage policies. Members represent more than 80 percent of the U.S. mortgage originations market and have agreed to contribute their loan application and fraud outcome data in exchange for quarterly fraud reporting, analytics and access to CoreLogic consortium-based mortgage fraud products. Members of the Mortgage Fraud Consortium have contributed more than 90 million loan applications to date and are adding millions more each year.

Lenders can learn more about the Mortgage Fraud Consortium by contacting their CoreLogic sales representative or visiting www.corelogic.com to contact sales.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built one of the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has more than 5,000 employees globally. For more information visit www.corelogic.com.

CORELOGIC and the stylized CoreLogic logo, are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.

NOTE TO EDITOR: Tim Grace, senior vice president at CoreLogic, and Rachel Dollar are available for interviews regarding the Mortgage Fraud Consortium Members’ Meeting. Contact gray@thepowermarkgroup.com to schedule an interview.