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Red Flags Risk Platform
Red Flag Risk Platform is a
FACTA compliant ID risk report driven by
a mortgage
fraud detection and prevention
system. It's engineered to add intelligence,
relevance, and context to bureau
credit
data - leveraging our 62+ years of
mortgage credit experience.
All ID fraud risk alerts on the Red Flags Risk Addendum are enhanced with:
- 'Plain-English' explanations for improved understanding
- 'Suggested Actions' offering practical risk mitigation procedures
- Links to risk escalation resources and products
- Matching FACTA Red Flag regulations
Your borrower's
ID data is scanned against
bureau fraud databases, providing a total of 171 potential
risk
alerts. Combined with Informative Research's
proprietary ID fraud report logic, Red Flags Risk Platform
is your company's answer to detecting ID fraud and
enabling FACTA Red Flag Rules compliance.
Your
Business, FACTA, and
Mortgage ID Fraud
FACTA Red Flag Rules and Bureau Fraud
Alerts
Fraud alerts
and the FACTA Red Flag Rules are
generic: designed for
multiple industries. It takes a
mortgage
expert to know which ID fraud alerts
matter most to your business.
That's why 62+ years of mortgage expertise
makes a powerful difference!
Red Flags Risk Platform is...
- Right for your business: the mortgage industry
- Smart for your compliance program
- Cost effective for your bottom line
Six Ways IR's Red Flags Risk Platform
Works for You:
1)
Proprietary Scoring and Report Logic
Our scoring and report logic assigns specific mortgage fraud
risk severity scores to all 171
potential risk alerts. These
scores are directly validated and
related to actual known frauds analyzed from two of
the nation's top
lenders.
Scoring and report logic is used to
generate ID Risk Level messages and to
organize report layout and features which
help originators and underwriters
quickly and efficiently respond to ID
fraud red flags.
2)
Specific to Mortgage ID Fraud
Red Flags Risk Platform emphasizes the
risk alerts most associated with ID
misrepresentation as applicable to
mortgage fraud: strawbuyers, HELOC
break-out, flipping schemes, etc.
This reduces unnecessary efforts spent
investigating risk alerts unrelated to
mortgage fraud.
3)
Built-In Reduction of 'False Positives'
Red Flags Risk Platform is engineered to
reduce 'false positives,' which saves
your company the time, costs, and effort
of responding to false alarms and
prevents turning away legitimate
borrowers.
4)
Data Integrity Intelligence
The quality, source, and integrity of borrower ID data elements
(and the various fraud
databases) affect risk severity.
Informative Research uses its 62+ years of
experience to factor in data quality and
integrity making Red Flags
Risk Platform effective in detecting
mortgage ID fraud.
5)
'Loss' Risk Variations Factored
Fraud for
profit results in 10-50 times the loss
as fraud for housing.
Red Flags Risk Platform factors in the
bottom-line loss consequences of the
various types of mortgage fraud.
6)
FACTA Red Flag Rules Compliance
Red Flags Risk Platform is the only fraud platform of its kind in the market today that maps bureau fraud alerts to applicable FACTA Red Flag Rules regulations, providing a powerful tool in your compliance arsenal.
Your company can even customize the Suggested Actions and Secondary Risk Products associated with each fraud alert, to better match your own risk mitigation procedures. |
For full details regarding
Informative Research's Red Flags Risk Platform, download the
Product Overview.
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