MARI Enhances Mortgage Fraud Tool

The Mortgage Asset Research Institute, Reston, Va., has announced the release of the MARI Loan Fraud Alert Service Pro, which helps lenders discover fraudulent loan applications before funding via comparative loan application analysis and identity risk management tools. MARI said its original LFAS is a comparative loan tool that helps uncover patterns of common mortgage fraud schemes. LFAS Pro, with patent-pending technology, takes the process a step further, providing insight into the identity of applicants and information about professionals involved in the transaction, such as mortgage brokers, appraisers, and closing attorneys. LFAS combines the Midex credentialing database with ChoicePoint's identity verification tools and adds the capabilities of a comparative analysis loan tool. "Lenders now have a tool that helps them ensure the loans they are about to make are not tainted by fraudulent activity and detect patterns indicative of fraud within their loan pipeline and other contributed lender pipelines," said Tom Chmielewski, vice president of ChoicePoint Financial Services. MARI can be found online at http://www.marisolutions.com, and ChoicePoint can be found at http://www.choicepoint.com.