CHAPTER 6

LoanSafe® by CoreLogic

Mitigate fraud risk with insights from 100 million applications

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LoanSafe® by CoreLogic pulls together the power of solid 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 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.

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 results.

1

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

2

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

3

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

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 and insights.

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

Drill into associated loan details to quickly triage possible issues.

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

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 inefficiencies and gaps with self-service alert management to quickly address those.

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

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Methodology, Acknowledgments and Credits

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