LoanSafe by CoreLogic

Mitigate fraud risk with insights from 100 million applications

Get ready to streamline your risk assessment process.

LoanSafe by CoreLogic pulls together the power of strong data, AI, and shared experience to help your business protect itself from fraudulent loan applications.

• An estimated 1 in 123 applications contains some fraudulent information. But just because they’re rare doesn’t mean they don’t happen — fraud can still cause serious harm to your business.

• Those infrequent attempts don’t all look the same: There are many different types of fraud with different motives and characteristics.

• Perpetrators are becoming more skilled at reducing obvious red flags and creating more convincing documentation and cross-documentation.

Lenders relying on simplistic red flags are more easily targeted than those whose processes include a knowledge base that more accurately identifies transactions similar to reported frauds.

LoanSafe’s unique fraud consortium includes over 100 million applications. Leveraging our extensive knowledge base reduces time spent on low-value research that delays loan fulfillment and adds cost.

[callout] Consortium = Shared Intelligence = Greater Accuracy

How does it work?

CoreLogic monitors and trains its data models with strict governance to ensure we provide our users with the most accurate, up-to-date results.

• Millions of loan applications that have been enriched with hundreds of data points create the base of our consortium data.

• Suspected fraud is tagged as it is identified (including frauds discovered long after closing).

• Machine learning identifies the often subtle patterns that distinguish various fraud schemes, fueling the score models that assess the risk on new applications.

The Fraud consortium

The Fraud Consortium knowledge base gives new applications the benefit of the prior learnings across lenders. LoanSafe captures over 60% of the fraud in the highest 10% of risk scores.

[darker box] Total applications (%)

[lighter box] Fraud captured (%)

Pipeline and portfolio monitoring

Some fraud schemes or problematic originators are hard to detect and prevent when reviewing a single transaction. LoanSafe Explorer’s pipeline and portfolio views bring new risk control options and insights.

• Identify high-risk transactions in your current pipeline for escalated QA

• Drill into associated loan details to quickly triage possible issues

• Metrics and outliers for key risk indicators by loan officer, broker, or correspondent

Start improving efficiency today

The Consortium knowledge base gives lenders insight into which alerts in an application are most critical, and which have lower value. LoanSafe includes tools to:

• Eliminate repeated false positives from watch lists and cut down on the associated waste.

• Identify inefficiencies and gaps with detailed alert task reporting.

• Address those inefficiencies and gaps immediately with self-service alert management.

Spend the time where it matters and reduce busy work that distracts from getting loans done.

Learn more and schedule a demo at corelogic.com/loansafe