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March 20, 2009
A new online software tool has been developed to assist lenders in mortgage fraud prevention by communicating with title companies.
St. Paul, Minn.-based Property Fraud Prevention announced the launch of its PFP Reports product. The software solution provides real-time reports from title companies and mortgage lenders while monitoring transactions, potentially uncovering fraud schemes before the closing.
The reports can detect such factors as multiple companies processing loans on the same property; multiple buyers for the same property; and duplicate title orders.
Read story at Finance and Commerce
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