A series of integrations to third-party data and analytics providers is beefing up CoreLogic’s LoanSafe Fraud Manager, the mortgage fraud detection technology that the Santa Ana-based firm said uses pattern recognition to provide business intelligence into lenders’ risk levels.
The latest integration takes software from Fair Isaac Corp.’s FICO Origination Manager 4.0 to give users new custom alerts and case management features, as well as an additional source of data to power the automated decision making technology.
The FICO tool’s configurable rules engine lets users create custom business rules and workflows for their specific needs. When an analyst receives an alert of potential fraud, the software guides the user to the correct steps for resolution.
CoreLogic said the workflow’s flexibility keeps it dynamic while also providing company-wide consistency for an organization’s risk analyst staff.
Earlier this month, CoreLogic integrated consumer identity, business and assets data from the LexisNexis FraudPoint Attributes and FraudPoint Score services.
“When dealing with risk mitigation and fraud prevention initiatives in the mortgage industry, the more you know about a person, the better assessment you can make about the likelihood that the applicant information is false,” Avivah Litan, an analyst and vice president at technology and research firm Gartner, said in a recent press statement.
Identity issues account for more than 10% of mortgage fraud problems, CoreLogic said. The LexisNexis technology uses more than 10,000 data sources to link and match consumer identification and asset data, like names, addresses and Social Security numbers.
