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Detect Fraud and Risk Early in the Mortgage Lending Process with FraudGuard®

Lenders rely on FraudGuard, a highly customized and automated solution to accurately identify borrower and property risk, raise awareness to potential fraud, remain compliant and ensure the loan is saleable.

How FraudGuard Works

Loan-Origination

Accepts inputs from: URLA 1003 forms, loan parties to the transaction, Loan Origination Systems, DU Upload, web or CSV Files

Reviews-application

Reviews application against 3rd party data sources and proprietary databases

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Couples with FraudGuard smart analytics and customized alerts defined by customer guidelines

Alert-icon

Generates report with recommended action steps to address high risk alerts

risk-scores

Returns risk scores via UI, web or PDF

cas

Clears alerts and adjust scores using Client Adjusted Scoring (CAS)

Easily Verify and Identify
Problems with the Loan Application

Identity

Identity/Occupancy Verification

SSN verification and validation, uncover fraud victims, deceased borrowers, intent to occupy and reverse occupancy

Property-Overview

Property Overview

Identify HOA details, property discrepancies (flipping, short sale, etc.), NOD (pre-foreclosure) and foreclosures, valuation and FEMA disaster areas

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Undisclosed Liabilities

 Identify other Real Estate Owned (REO) properties, validate ownership, MERS, liens and judgments, bankruptcy, debt monitoring and forbearance

Income-and-Employment

Income and Employment

Verification of 4506-C (Tax Transcript), VOI/VOE, self-employment and undisclosed business indicators

compliance

Compliance and Watchlist Review

Check all parties of the loan transaction against industry, agency, government, investor and customer supplied watchlists, NMLS and appraiser license verification

Database

Loan Application Database

Look for loan discrepancies within FraudGuard’s proprietary loan database including loan churning, straw buyers, undisclosed properties or previous application changes such as income and job stability

Lenders Use FraudGuard to:

  • Quickly mitigate potential misrepresentation and loan risk
  • Comply with regulations and decrease the risk of buybacks
  • Ensure the loan is saleable through data integrity analysis
  • Improve the application review process with greater speed and efficiency
  • Uncover high versus low risk borrowers and properties
  • Reduce future defaults, foreclosures and repurchases

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