Mortgage Lenders
Mortgage Investors
Mortgage Insurers Underwriters Quality Assurance Claims and Investigations Reselling

Claims and Investigations

Situation
An insurance claim means risk has changed to loss, turning fraud detection into a forensic science.  And because your profitability rests on avoiding unnecessary claims payments, you have to find out why each claim occurred.  You know the loan is bad, now it’s a detective game to discover the reason and determine if there’s a possible remedy, or follow the clues that lead to fraud.  Everyone wins when the borrower pays the loan.  When that can’t happen, it’s either you or the lender who must.  If you discover the lender presented a fraudulent loan through noncompliant or negligent qualification practices, you can move the loss off your ledger sheet and send it back to the lender’s.      

Detecting fraudulent loans before insuring them is never easy.  Today’s high-tech tools make fraud even easier to commit and harder to find, and the level of sophistication continues to grow.  You need equally sophisticated tools to detect fraudulent patterns and hunt down the perpetrators. 

Executive view
When you insure a loan, you’re betting on the borrower’s ability to pay.  Every claim filed represents a bet lost and a threat to profitability.  To protect your profits, it’s imperative you find solutions that prevent claims or locate fraud that absolves you of responsibility and loss.  Giving your investigation team the best fraud detection tools in the industry is a must. 

Solution
First American CoreLogic offers the most highly respected fraud detection suite of products and services available.  As experts in identifying deceptive tactics, we designed our automated tools and expert services to look for a host of issues, including comparables that don’t match up, geographies with high foreclosure rates or property flipping, borrower identity or income questions, mortgage brokers or agents with a history of loans that ended in default, and many other indicators.  Even more important, we engineered in relationship detection that spots the patterns most often associated with fraudulent activities. Applied forensically, our tools also enable you to see and compare present and past data to find patterns that may have developed since loan origination.  The combination of automated tools and access to expert appraisal and geographic information systems ensures that you have the finest risk-modeling and fraud-detection tools that help ensure you pay only those claims that are truly legitimate.

 

CoreLogic Tools

First American CoreLogic suggests the following tools for this role:

HistoryPro™

Atone™

IncomePro™

ThirdParty Scorecard®

IdentityPro®

HistoryPro Review™

 

 

 

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