CoreLogic Recognized as 2010 “Innovator” by Bank Technology News
Email Dan Smith
July 06, 2010, Santa Ana, Calif. –
LoanSafe Fraud Manager Honored for Outstanding Risk Management for Mortgage Fraud Detection
CoreLogic (NYSE: CLGX), a leading provider of consumer, financial and property information and business services, today announced it has been recognized as a 2010 “Innovator” by SourceMedia’s Bank Technology News, the banking industry’s source of technology coverage. The ninth annual listing recognizes 20 companies as “Innovators” who provide forward-thinking products and services to the American financial services industry. LoanSafe Fraud Manager was recognized for combating mortgage fraud and its ability to minimize the false positive-to-fraud ratio from the industry average of almost 100-to-one to about three-to-one.
“BTN’s Innovators have put into action the industry’s most advanced and innovative financial services technology, doing their part to create the next generation of financial services,” said Rebecca Sausner, editor-in-chief at Bank Technology News. “BTN’s editorial team found CoreLogic efforts against mortgage fraud to be particularly relevant as mortgage technology is reinvented to meet the new demands being placed on the industry.”
“CoreLogic is revolutionizing mortgage fraud detection with the use of pattern recognition and predictive analytics technology and this award reflects the innovation of our fraud solution team,” stated Tim Grace, senior vice president of Fraud Solutions at CoreLogic. “LoanSafe Fraud Manager was developed using the most advanced technology, fueled by the industry’s most robust database, making it the most accurate fraud detection solution on the market. Because of this, LoanSafe Fraud Manager is either operational or in evaluation by nearly all of the top lenders in the US.”
The Innovator selection process included an evaluation of each nominee’s technology, market acceptance, and impact and relevance to the financial market. Bank Technology News stated this year’s Innovators were selected based on the degree to which their product or service showcased a promising solution to a vexing problem facing the financial industry, including better risk management.
CoreLogic 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 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. Formerly, the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com.
CoreLogic and LoanSafe are registered trademarks of CoreLogic.