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

Reselling

Situation
Lenders and insurers are partners in each loan funded and covered by mortgage insurance.  Loans that end up in claims harm both parties, especially when fraud causes the insurer to bounce back liability to the lender.  Because lenders are the channel for all business that comes to a mortgage insurer, the insurer gains when the lender applies collateral valuation and fraud detection tools prior to funding.  As the market cools and fraud heats up, the alliance faces a constant barrage of threats that could endanger the partnership and profits of both organizations.  Ensuring only loans that meet pre-determined risk tolerance levels receive approval and a new certificate of insurance helps maintain a good working alliance that benefits both parties by preventing losses. 

Solution
An increasing number of mortgage insurance companies are providing lenders they work with access to First American CoreLogic’s collateral valuation and fraud detection tools.  Using our automated suite of tools enables lenders to verify and grade collateral value, borrower integrity, and the mortgage broker or agent’s track record.  Inaccurate values and questionable activities can be detected early, helping to prevent loan default caused by collateral risk and fraud.  Insurers also gain the advantage of instilling lender loyalty to maintain and increase market share.

 

CoreLogic Tools

First American CoreLogic suggests the following tools for this role:

LoanSafe RDS™

LoanSafe®

IncomePro™

HistoryPro™

Atone™

AVMSelect™

ThirdParty Scorecard®

IdentityPro®

 

 

 

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