Sysdome Creates Broker Fraud Tool

Calabasas, Calif.-based Sysdome has announced the release of its new BrokerScore product designed to detect broker fraud.BrokerScore is a fraud prevention tool that reviews originators each month, performing audits and background checks on mortgage brokers and affiliated groups on behalf of lenders. BrokerScore rates individual brokers with a "score" that is shared with both the broker and the lender, Sysdome said. Brokers can contest the information provided and use their score as a marketing tool as well. Sysdome is in talks with the National Association of Mortgage Brokers to use the product as the basis of a national registry that would track the performance of brokers across the country in an effort to cut down on broker fraud. The product announcement was made at the NAMB annual convention in Salt Lake City. Sysdome can be found on the Web at http://www.sysdome.com.