home mortgage fraud newsletter full stories advertise mortgage industry newsletter RSS about us
HOT Topics Fraud Resources Fraud Prevention Mortgage Litigation News Appraisal News
twitter linkedin
facebook google+
Mortgage News

Search mortgage fraud news by keyword.

Mortgage Fraud News
News, analysis and statistics about mortgage fraud.

Local Mortgage Fraud
Stories about individual mortgage crime cases.

Mortgage Fraud Statistics
Statics by year about real estate fraud.

Mortgage Fraud Index
Quarterly index based on case activity.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage Fraud Feedget RSS code
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.

Mortgage Fraud Archives
Archive of FraudBlogger.com entries going back to 2005.



Fraud Databases Explode

First American CoreLogic Announces Mortgage Industry's Largest National Fraud Data Repository

-- Encompasses 80 Million Loan Applications, Fraud Reports, Largest Property, Securities and Servicing Databases

SANTA ANA, Calif. -- (Oct. 13, 2009) -- First American CoreLogic, a member of The First American Corporation (NYSE: FAF) family of companies and America's largest provider of advanced property and ownership information, analytics and services, today announced that it has built the mortgage industry's most comprehensive national fraud data repository to help clients combat all types of mortgage fraud and to further enhance the predictive performance of its anti-fraud solutions.

The First American CoreLogic National Fraud Database is the largest central repository of application and transaction data in the mortgage industry and includes:
  • More than 80 million loan applications or 65 percent of all loan applications annually

  • The largest aggregation of reported fraud data including contributions from more than 35 lenders and investors with application and performance history dating back to 2005

  • The only collection of fraud information (including default, foreclosure, charge-off and repurchase indicators) robust enough for building precise pattern recognition scoring models

  • Daily contributions of application and lien information from 17 lenders within First American's Multi-lien Closing Alert Program

  • The industry's leading title, lien release and payoff information to aid in detecting various types of first- and second-lien fraud

  • Comprehensive third-party information including loan information on more than 160,000 brokers, 135,000 appraisers, account executives, loan officers and retail branches

    Property and neighborhood-specific fraud and foreclosure data

The repository also incorporates the First American Property Data Repository; the LoanPerformance(TM) TrueStandings® Securities and Servicing databases, which house 97 percent and 80 percent coverage of active non-agency mortgage securities and all active first-lien mortgages, respectively; the Mortgage Electronic Registration Systems (MERS) registry and price trends and foreclosure data.

"The best scoring and analytic products stem from and rely upon robust data assets," said Tim Grace, senior vice president of Fraud Analytics at First American CoreLogic. "Our new National Fraud Repository enables our clients to have access to fraud-identifying data and analytics, new and innovative scoring products, and comprehensive fraud and risk alerts, making their internal safeguards more effective. As the number of participants and reporting companies grow, it will make fraud risk more transparent and make it harder for perpetrators to carry out fraudulent activity. Our goal is to help our customers reduce the occurrence of fraud schemes such as shot-gunning, loan stacking, undisclosed debt, short-sale fraud, falsification of lien releases, flipping and house stealing."

As an example of how shared information, better communication and industry cooperation can stop fraud, Grace pointed to First American's Multi-Lien Closing Alert Program. This two-year old program, which includes eight of the nation's 10 largest home equity lenders, has already saved the industry more than $200 million in fraud losses and significantly reduced the occurrences of "shot-gunning fraud" for program participants.

For more information about the National Fraud Repository, please visit www.facorelogic.com/2X

About First American CoreLogic
First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies, is the largest provider in the U.S. of real estate, property, ownership, fraud, mortgage and mortgage securities data--and the advanced analytics that use them--for the assessment of real estate sales, collateral valuation, home price trends, mortgage originations, mortgage- and asset-based securities pricing, foreclosures, delinquencies and asset dispositions. Our market-specific data covers 98 percent of all U.S. ZIP codes and 3,059 counties in all 50 states and the District of Columbia, representing 99 percent of the U.S. population, 97 percent of all properties (140 million), more than 50 million active mortgages and 96 percent of loan-level, non-agency mortgage securities. First American CoreLogic's products and services enable customers to manage credit and mortgage risk, protect against fraud, acquire and retain customers, mitigate loss, decrease mortgage-transaction cycle times, value properties accurately, determine real estate trends and project future market performance. For more information about First American

CoreLogic, please visit http://www.facorelogic.com

About First American
The First American Corporation (NYSE: FAF) is a FORTUNE 500(®) company that traces its history to 1889. With revenues of approximately $6.2 billion in 2008, it is America's largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people's lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions. More information about the company and an archive of its press releases can be found at www.firstam.com.

Media Contact
Carrie Gaska
Corporate Communications
The First American Corporation
714.250.3298 cgaska@firstam.com

SOURCE The First American Corporation

Mortgage Fraud Litigation

Q4-2012 | Q3-2012
Q2-2012 | Q1-2012

Q4-2011 | Q3-2011
Q2-2011 | Q1-2011

Q4-2010 | Q3-2010
Q2-2010 | Q1-2010

Q4-2009 | Q3-2009
Q2-2009 | Q1-2009

Q4-2008 | Q3-2008
Q2-2008 | Q1-2008

full-year 2007
Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
The Mortgage Graveyard
Reverse Mortgage Blog
Mortgage Compliance Newsletter
Free compliance newsletter from MortgageDaily.com.

Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan officer compensation rule

loan originator compensation rule


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

sales blog

reverse mortgage news

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news