Outsmart Fraud. Our patented predictive analytics and hyper-smart pattern recognition tools are powered by the collective intelligence of the industry’s only 100 million loan Mortgage Fraud Consortium. We help you identify and avoid potential fraud before it becomes a problem. It’s a much smarter approach.
As we transition from a refi market to a purchase market, mortgage fraud risk is increasing— and we can help.
Mortgage fraud reports and mitigation solutions are only as good as the data and analytics behind them. CoreLogic draws on the most current, complete and relevant property data available and then applies predictive analytics and patented pattern recognition technology to deliver the LoanSafe Suite of mortgage fraud risk detection tools. LoanSafe Fraud Manager, the suite’s flagship product, is a powerful and intuitive report that can be easily integrated into your existing workflows. LoanSafe Fraud Manager helps protect you against:
For those that seek additional collateral review capabilities over and above the fraud-focused property information in LoanSafe Fraud Manager, LoanSafe Risk Manager incorporates the Collateral Risk Score, which risk-ranks the likelihood of foreclosure and severe loss. It also offers additional appraisal review alerts.
Maximize the benefits of your LoanSafe reports with LoanSafe Connect, our online tool that allows you to interact directly with your LoanSafe Fraud Manager reports, including evaluating and clearing fraud alerts online. Whether you’re working individually or collaboratively, “working the file” has never been so easy, so transparent and so efficient. Best of all, LoanSafe Connect is included with your LoanSafe reports at no additional charge!
LoanSafe Connect is an intuitive, web-based review tool allowing:
Settlement agents help facilitate the closing of the mortgage transaction, and as such, are trusted with large sums of money and sensitive borrower information. Yet, despite the obvious risks, validating a given settlement agent prior to a closing has been difficult. Until now.
CoreLogic’s Settlement Agent Risk Assessment (SARA) provides a simple, systematic solution for vetting your settlement agents. Powered by Secure Insight™ and a database of over 80,000 loan actors, SARA is delivered as part of LoanSafe Fraud Manager, automatically verifying:
Multi-lien or “shotgunning fraud” is an extremely profitable scam that takes advantage of the lag between loan closing and loan recording to solicit multiple loans on a single property. Difficult to detect through traditional methods and extremely profitable for perpetrators, multi-lien cases currently cost about $320,000 per incident on average—and can affect several lenders in a single case.
The risk is real. Since its inception, CoreLogic’s Multi-Closing Alert Program (MCAP) has detected more than 1,200 cases confirmed by lenders as shotgunning fraud attempts. These 1,200 cases represent thousands of MCAP participant loans totaling more than $365 million.
MCAP can help you avoid increasingly elaborate fraud schemes by:
The ability to quickly and confidently verify applicant-supplied information is more important than ever. CoreLogic delivers the integrated borrower verification solutions you need to qualify your applicants and accelerate your origination workflows—all while helping you mitigate risk and protect yourself from mortgage fraud. Our automated borrower verifications include:
Are you getting the most out of LoanSafe Fraud Manager and LoanSafe Connect? If not, we offer free training sessions to help you out.
Whether you’re a new user or you’re just looking for a refresher, our bi-monthly training sessions will show you the best practices and tips and tricks to become a LoanSafe expert. Reserve your spot for one of the next two training sessions!
Schedule a free consultation, and empower your team with CoreLogic today!
Historically, large-balance mortgage loans, known as ‘jumbo’ loans, have had a higher interest rate than conforming loans.[1] However, since mid-2013, the interest rate for a jumbo loan was lower than a conforming loan until June 2020.
Fraud risk increased 37% over 2020 levels, putting the CoreLogic fraud risk index near pre-pandemic levels. The major difference between 2019 and today is that the risk is rising instead of declining.
hose in foreclosure)[1], which was a 2.3-percentage point decrease from October 2020 according to the latest CoreLogic Loan Performance Insights Report .