CoreLogic releases LoanSafe fraud risk update at consortium

An annual event has brought together experts in managing mortgage fraud risk from 30 financial institutions.

The CoreLogic Mortgage Fraud Consortium convened in San Diego and included speakers from the FBI, Fifth Third Bank, Cognizant, Fannie Mae, Freddie Mac and more.

At the event, CoreLogic unveiled the latest update to its Fraud Risk Score Model (version 4.0) which is delivered within the LoanSafe product suite and accounts for recent changes in mortgage fraud trends while leveraging new data assets.

At the Consortium delegates heard discussion of the latest thinking on mortgage fraud detection including how law enforcement agencies are working to tackle the latest schemes.

Speakers also talked of the impact that weakened housing affordability has on mortgage fraud risk.

“This year’s Mortgage Fraud Consortium was another success, providing leading industry professionals with the opportunity to learn about the latest mortgage fraud trends while collaborating on ways to reduce future risk,” said Bridget Berg, principal, Fraud Solutions at CoreLogic. “According to our latest research, the country has seen a 10% increase in fraud risk from Q1 2018 to Q1 2019. This continual increase reinforces the need for this annual event and we’re proud to continue helping mortgage loan providers mitigate risk and fight back against fraud.”