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.
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. FraudGuard directly integrates The Work Number® to refine the overall borrower risk score.
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.
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.
Characteristics, condition & estimated value of subject property. Includes information on transaction history & foreclosure analysis to identify overall collateral risk.
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.
Validates identity and highlights potential risks associated with the borrower’s identity profile through multiple sources.
Analytical look at the dollar value in the FraudGuard loan inventory committed to the subject property area & to the borrowers.