TransUnion Unveils Anti-Fraud Products

TransUnion Settlement Solutions, Chicago, has announced the availability of fraud and identity management products to the mortgage industry at the MBA's annual convention in Orlando.To mitigate occurrences of fraud, mortgage lenders can integrate TransUnion's fraud and identity management solutions directly into their loan origination system and automated underwriting systems, the company said. Some of the systems offered are borrower identification, loan data verification, and collateral valuation and property services. The systems leverage multisource databases to verify and authenticate personal information on a borrower's mortgage application. The company's Irregular Sales Indicator alerts lenders when a property has an irregular sale price and provides a history of sales transactions for the neighborhood. Additionally, TransUnion's Collateral Market Value verifies a customer-estimated value or an appraised value in a quality-control environment. TransUnion also offers mortgage lenders comprehensive fraud response services in the event of a database compromise.