MBA Sub Seeks Info on Creating Fraud Database

Lender Technologies Corp., a subsidiary of the Mortgage Bankers Association, has issued a Request for Information regarding the creation of a national database to help prevent fraud against lenders.LTC said it is requesting information to determine the availability of contractors that have the experience, expertise, and staffing to develop and operate such a database. "MBA believes that further innovation is required in order to adequately protect the industry, as well as consumers, taxpayers, and communities, from the costs of mortgage fraud, and that is why we are lending our support to efforts to develop a national fraud prevention database," said MBA chairman John M. Robbins. LTC said the primary focus of the project is to develop a database and a process to facilitate the sharing of data that would improve the ability of mortgage lenders to identify and stop fraud at the point of origination. LTC can be found online at http://www.lendertechnologies.com.