First American Data & Analytics Launches FraudGuard Home Equity Solution

Early U.S. Data and Analysisa leading national provider of real estate-centric information, risk management and valuation solutions and a division of First American Financial Corporation, announced the launch of FraudGuard Home Equitya unique new fraud risk management solution designed and configured specifically to help home equity lenders streamline their reliance on third-party vendors, while reducing costs and improving efficiency.

FraudGuard Home Equity solution identifies undisclosed liabilities, validates identity, detects occupancy discrepancies, screens all applicable loan participants (including borrowers and employers) against industry debarment lists , and instantly provides a comprehensive property valuation report with property type, listing status, and owner and condominium data. The solution, which integrates with all major loan origination systems, covers 100% of residential properties in the United States and has targeted risk alerts specific to the home equity transaction that help lenders effectively identify potential misrepresentations.

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“With this sophisticated and streamlined solution, lenders can assess the risk of a potential home loan using a centralized tool that analyzes all relevant risk categories,” said Paul W. Harris, managing director, analytics Mortgage for First American Data & Analytics. “The FraudGuard Home Equity solution provides lenders with a cost-effective and efficient way to complete home equity transactions, while continuing to meet the quality standards of their origination process.”

The FraudGuard Home Equity tool is a customized version of the firm’s industry leader FraudGuard fraud analytics solution, which leverages public, private and proprietary data sources to help lenders identify risk and assess overall loan quality.

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Lance B. Holton