FirstClose makes Fraud Prevention a PreFunding possibility.
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LoanIQ by First American
LoanIQ™ allows you to instantly identify high-risk loans and reduce overall loan default exposure. The LoanIQ and Market Risk Scores assist you in making a decision based on the level of collateral risk associated with a property and the surrounding neighborhood. LoanIQ identifies red flags that alert you to high-risk signals – such as over-valuation, rapid appreciation, and suspicious transfer activity – then allows you to drill down to examine any red flag in closer detail. Whether you need to assess one loan or thousands, LoanIQ delivers the answers you need fast to make the most informed loan decisions. By running LoanIQ on all of your loans, you can quickly and accurately fast-track low-risk loans and escalate loans with a higher risk of loss to quality control and due diligence.
HistoryPro by First American
HistoryPro is considered one of the most powerful fraud and "flip" detection tools on the market to date. This instantaneous report provides sales information for both subject and surrounding sales comparables, with a summary "F score" that helps quickly identify a possible declining or "flip" market. It is well known that collateral valuation offers the easiest opportunity to perpetrate mortgage fraud, making value verification critical. HistoryPro moves collateral risk analysis to a new level using a proprietary assessment engine that evaluates multiple relationships and comparisons between property characteristics, location factors, pricing and appraisals, as well as local market volatility indicators, foreclosure rates and other performance studies. |
