Pointing to a significant rise in income fraud, Rapid Reporting has launched AccountChek, an electronic verification of deposit service that helps lenders, brokers and servicers detect financial account misrepresentations. Unveiled at the MBA show, AccountChek leverages direct access to more than 10,000 financial institutions, including insurance and investment firms, to confirm the accuracy of borrower-provided account information. The company says AccountChek automatically analyzes each account for suspicious activities that could indicate potential mortgage fraud.
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