Mortgage fraud losses are estimated at $4 billion in 2010 with dozens of new fraud schemes identified. The secondary mortgage market has responded with new mandatory verification requirements.
PitchPoint is a leading provider of fraud prevention services with the systems, people, and experience to quickly validate loan data and enable lenders to reduce in-house effort, meet new compliance requirements and access a warranty against fraud losses.
ADV-120 Expert Services combines the latest in automated fraud detection with manual review by highly trained fraud researches who have instant access to extensive national data on people, companies and property to quickly resolve conflicting results to resolve false fraud alerts and return an objective fraud reports without the need for the lender’s underwriters and processors to clear minor data issues.
Any automated fraud detection report can return some results which must be further investigated. Expert Services unique 2 stage validation approach combines automated search capability and experienced researchers that have instant access to regional and national data to investigate and clear false positives. Our subject area experts quickly review discrepancies, missing or conflicting data to determine if it is a valid issue. The researcher documents their findings and “clear” false positives to improve underwriter productivity and lower lender processing costs.