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FIRST AMERICAN
DATA LAUNCHES
FRAUDGUARD
First American Data & Analytics, a
provider of property-centric information,
risk management, and valuation solutions
and a division of First American Financial
Corporation, has launched FraudGuard Home
Equity, a new single-source solution for fraud
risk management designed and configured
specifically to help home equity lenders
streamline their use of third-party vendors,
while reducing costs and improving efficiency.
e FraudGuard Home Equity solution
identifies undisclosed liabilities, validates
identity, detects occupancy discrepancies,
checks all applicable loan participants
(including borrowers and employers) against
industry exclusionary lists, and instantly
provides a comprehensive property valuation
report complete with property type, listing
status, and homeowner and condo association
data. e solution, which integrates with all
leading loan origination systems, covers 100%
of residential properties in the U.S. and has
targeted risk alerts specific to the home equity
transaction that help lenders efficiently identify
potential misrepresentation.
"With this sophisticated, streamlined
solution, lenders can assess the risk on
a potential home equity loan using one
centralized tool that analyzes all appropriate
risk categories," said Paul W. Harris, General
Manager, Mortgage Analytics for First
American Data & Analytics. "e FraudGuard
Home Equity solution provides a cost-effective
and efficient way for lenders to close home
equity transactions, while continuing to meet
the quality standards of their origination
process."
e FraudGuard Home Equity tool
is a customized version of the company's
FraudGuard fraud analytics solution, which
leverages public, private, and proprietary data
sources to help lenders identify risk and assess
overall loan quality.
Industry Updates
From mergers and acquisitions to cutting-edge
tech tools and solutions, here's the company news
the industry is talking about this month.
