LoanSafe – FraudMark

Fraud detection and prevention tool to identify suspect mortgage loans

Overview

How well do you really know your borrowers? LoanSafe-FraudMark is a fraud detection and prevention tool, enabling easy identification of suspect mortgage loans and possible collusion. It works by applying predictive, advanced analytics to multiple datasets with patented technology.

The end result is a loan ranking score for each application. The investigative report provides risk indicators of the possible fraud type together with valuable information to support investigators and recommendations of the actions that should be taken. By receiving monthly insight reports and advanced portfolio reporting, risk management becomes more efficient and fraud defences are strengthened.

LoanSafe-FraudMark outputs insights across 5 risk segments:

The Property
Income & Loan
Occupancy
Employment
The Person

Benefits to your business

Determine fraud risk

Identification of risk patterns and clusters of statistically unusual behaviour
Investigate high risk loans

Fraud ranking system enables investigators to focus on high risk loans
Bolster your defence

Used as a standalone tool or integrated into existing fraud screening systems

Key features

Loan ranking score

Application scored from 1-999. 1 indicates little fraud risk, whereas 999 warns of high fraud potential.
Fraud percentiles

Percentage indicators provide insight as to where key aspects of an application sit in relation to other applications.
Risk management

Helping to manage risk, providing customisable rankings depending on application type, risk appetite and resourcing.
Portfolio reporting

One page report for targeted assessment displaying ranking score and key risk information.