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Industry Updates
CORELOGIC
LAUNCHES NEW
FRAUD RISK
OFFERING
CoreLogic has introduced its LoanSafe
Explorer service, the latest addition to its
LoanSafe fraud and risk mitigation suite.
LoanSafe Explorer can assist lenders and
servicers in getting a more accurate picture of
their fraud risk by taking a macro-level view of
their organization to help spot fraud trends that
might be missed when only looking at individual
loans.
Currently, fraud and risk mitigation
detection efforts are focused at the loan level,
allowing lenders and servicers to spot many
instances of fraud, but certain anomalies and
patterns may not be easily detectable at this
granular level. LoanSafe Explorer changes the
way fraud is detected by leveraging a lender's
data, combined with proprietary pattern
recognition techniques, to provide a macro-level
view of fraud risk. LoanSafe Explorer delivers
insight into risk via a user-friendly dashboard
within the LoanSafe Connect platform.
"e old adage 'You can't see the forest for
the trees,' applies quite well to current mortgage
fraud practices," said Bridget Berg, Principal,
Fraud Solutions for CoreLogic. "at's why we
developed LoanSafe Explorer—to help fraud
and risk managers to see their organization from
a higher level, enhancing the chances they can
spot possible fraud trends they may have missed."
LoanSafe Explorer leverages CoreLogic's
Mortgage Fraud Consortium—information
from more than 100 million members' supplied
mortgage loan applications—that drives an
analytically-derived fraud score. Using this data
on a macro level can allow users to identify fraud
trends. For instance, a loan officer that has a
much higher incidence of high (over 900) fraud
scores compared to their counterparts may be
conducting business in a way that needs further
investigation and monitoring by risk managers.
