Fraud detection

These attempts to remove legit items from credit files are made with the aim of at least temporarily boosting the credit score in order to get a loan.

An average of 2.2 issues found in problematic loan files shows existing tools are insufficient to detect vulnerabilities before closing, Fundingshield said

Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.

The document automation company Ocrolus recently launched a new version of its fraud detection platform. Here's how it works and what other services lenders should consider.

The new product is an extension of its FraudGuard offering for the first lien mortgage market.

Application for loans to buy a home are a quarter more likely to contain misrepresentations than other loans in the market, CoreLogic said.

When a bank subscriber to Sure Profile pulls a credit report on an applicant for a loan or account, Experian will check to see if the identity data matches a real person.

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

Fidelity National Financial, the nation's largest title insurance underwriter, added a new digital title insurance opening package to its WireSafe homebuyer and seller program.

There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era.

Credit decisions were a natural place to start with artificial intelligence, but now banks and credit unions are taking the technology to all parts of their businesses.

Mortgage and real estate professionals need to do a better job of educating consumers and themselves about the growing vulnerability to wire fraud schemes during the home buying process.

The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession.

David Plunkett, a 53-year-old accountant in Lynn, Mass., pleaded guilty to bank fraud this week for his part in a scheme to defraud mortgage lenders between 2006 and 2015.

Time and again, two former associates of President Trump deceived banks in connection with loan applications. Their wealth, proximity to power and willingness to tell big lies all appear to have helped them get away with brazen schemes.

Wire fraud is considered a consumer and title agent issue, but the millions of dollars it's diverting from home purchase transactions make it an issue mortgage lenders need to address, too.

A man from Hialeah, Fla., will face sentencing in November after pleading guilty to conspiracy in an $8 million mortgage and tax-refund scheme.

Wire fraud committed through business email compromise schemes has emerged as a serious threat to mortgage and real estate transactions. Defending against these scams requires a comprehensive strategy that includes technology, training and nonstop vigilance.

Fraudsters can track a home sale from the moment it goes on the market until the deal closes, make these transactions a ripe target for business email compromise scams that seek to intercept wire transfers and steal from legitimate participants in a deal.

Post-crisis measures made it harder for rogue borrowers and employees to commit fraud. Now, a new threat has emerged from scammers posing as title agents, real estate professionals and more.