LoanSafe - FraudMark

How well do you really know your borrowers?

Scammers. Con artists. Cheats…whatever you call them, mortgage fraudsters wreak havoc.

LoanSafe-FraudMark from CoreLogic is a fraud detection and prevention tool, enabling easy identification of suspect mortgage loans. It works by applying predictive, advanced analytics to multiple datasets with patented technology. The end result is a loan ranking score for every application and an easily understood report. Risk management becomes more efficient and fraud defences become much stronger.  

3 Ways LoanSafe-FraudMark helps you mitigate risk
  1. Determine fraud risk - identify risk patterns (including behavioural trends), leverage historical patterns of fraudulent and non-fraudulent loans, identify clusters of statistically unusual behaviour and score loan applications to reduce false positives to identify the likelihood of loss before applications progress to offer or approval phases.
  2. Use your investigative resources efficiently - LoanSafe-FraudMark has a fraud ranking system, enabling investigators to be easily directed where they’re needed most: to the high risk loans. 
  3. Bolster your defences - LoanSafe-FraudMark can be implemented as a standalone tool or integrated into existing systems to work seamlessly with other application fraud screening tools. 


Mortgage Misrepresentation Risks


Key Features
  • Loan ranking score: applications are scored from 1 - 999. 1 indicates little fraud risk, whereas 999 warns of high fraud potential. 
  • Unique detection approach: LoanSafe assesses the application as a whole, not just referencing known fraud data. Patented technology to alert to what’s not believable: what doesn’t add up. 
  • Efficient risk management: rankings are customised to various application types (e.g mainstream residential Vs. investor) and to an organisation’s pre-determined high risk threshold (an optimal score driven by your risk appetite and investigative resourcing). High risk loan? More detailed investigations commence. Low scoring application? Divert focus of investigators elsewhere. 
  • One page report for quick and easy assessment:  displays the loan application’s fraud ranking score and top fraud indicators (with explanations and invaluable additional information for investigators) including:  
    • Fraud categories: risk types are categorised into income, employment, property, occupancy and identity. 
    • Risk indicators: 70 alerts highlight specific risk, with up to 3 displayed per risk category.
    • Recommended actions: Suggested investigative approach for alerted anomalies. 
    • Percentile information: Evaluate the income, property value and loan amount with geographic referencing. 
    • Comes complete with best practice training and can be implemented as a standalone tool or integrated into existing systems.