LTC Seeks Comment on Anti-Fraud Database

Lender Technologies Corp., a wholly owned subsidiary of the Mortgage Bankers Association, has released the final request for proposal for the creation of a national database to help prevent and detect mortgage fraud. Respondents will have until Nov. 6 to review and respond to the RFP. LTC said the primary focus of the project is to develop and maintain a database that will improve a mortgage lender's ability to identify and stop fraud at the point of origination. The project will be implemented in phases. "The database will allow lenders to better protect themselves -- as well as consumers, taxpayers, and communities -- from the substantial costs associated with mortgage fraud," said MBA chairman Kieran P. Quinn. "Lenders, servicers, and investors will be able to interface with the database directly as well as through authorized agents."