FraudGuard | First American Data & Analytics

Lenders Rely on Loan Quality Assurance Tools to Originate Compliant and Performing Loans

Our FraudGuard® solution is the most intelligent decisioning tool on the market today, leveraging advanced analytics, reporting, defect trending and audit trails that are essential to a compliant loan origination process. No other automated solution can match the depth of data sources or capabilities FraudGuard analytics marshals into a single solution quality assurance platform. Lenders can trust FraudGuard reports to provide top tier analytics backed by veteran product support and development teams.

A Comprehensive Approach to Risk

Leveraging public, private and proprietary data sources, the FraudGuard report helps lenders identify potential fraud risk and errors in mortgage applications, comply with regulations, improve the application review process through greater speed and efficiency, and increase loan quality.

FraudGuard reports help increase operational efficiencies and time savings through process and workflow automation, data aggregation and risk analysis.

Verifies loan and data quality using public, private and proprietary data sources

Identifies problematic loans through pre-funding file reviews of borrower and property information

Third-party risk analytics help lenders meet their regulatory compliance requirements

Enhanced reporting of findings and recommendations provide the actionable insight needed to support loan decisions

Loan-level risk assessment on borrowers, third party and collateral

Key Benefits

Increased loan & data quality

Third-party risk analytics

Reduced borrower & property risk

Protects against regulatory penalties

Actionable insight with easy & intuitive access to enhanced reporting

Critical due diligence & supporting evidence for loan decisions

Improves risk mitigation & helps avoid defaults, foreclosures & repurchases

Assets/Liabilities

Streamlines the loan process with real time monitoring of the borrower’s credit profile to identify if new debts or liabilities are originated during loan processing and performs checks against the MERS database as an additional safeguard. Undisclosed Debt Monitoring® powered by Equifax monitors the borrower activity to identify if new debts or liabilities are incurred during the quiet period.

Occupancy

Performs a nationwide search for properties owned by the borrower & uses exception-based alerting to identify other properties owned, occupancy issues, foreclosures & unidentified addresses used. The module assesses ownership history & provides an interactive ownership timeline.

Income & Employment

Analyzes the borrower’s income & employment utilizing external & internal data sources to validate the borrower’s ability to pay. The FraudGuard solution directly integrates The Work Number® to refine the overall borrower risk score.

Licensing

Searches the NMLS (Nationwide Mortgage Licensing System & Registry) database to validate the Mortgage Broker & Loan Officer’s NMLS ID. Also verifies appraiser license & reviews appraiser information for validity.

Watchlists

Compares all participant names to industry and lender exclusionary lists to identify high risk participants, with parallel matching carried out against proprietary National Fraud Protection Database.

Property Valuation

Characteristics, condition & estimated value of subject property. Includes information on transaction history & foreclosure analysis to identify overall collateral risk.

Market Conditions

Up-to-date listing data and market neighborhood market analysis, including comparable sales, foreclosure activity and FEMA hazard impacts.

Conflict of Interest

Checks all parties in the loan & parties from previous property transactions to identify possible conflicts of interest or possible collusion activities.

Identity

Validates identity and highlights potential risks associated with the borrower’s identity profile through multiple sources.

Exposure

Analytical look at the dollar value in the FraudGuard loan inventory committed to the subject property area & to the borrowers.

FraudGuard®