HistoryPro™

HistoryPro™ quickly and accurately grades collateral risk by analyzing factors most predictive of the types of fraud that contribute to early payment default and loan loss. HistoryPro’s industry-pioneering F-Score - tested and proven by mortgage originators and investors nationwide - offers unmatched accuracy in identifying potential fraud. By sifting out suspicious loans early, HistoryPro streamlines loan processing, decreases loss severity and eliminates unnecessary loan origination costs.

In recent years, real estate fraud has become one of the mortgage banking industry’s most significant threats to profitability.  First American CoreLogic’s risk management tools fortify mortgage lenders and investors against that risk when originating or purchasing a loan.

In any loan transaction, the property represents the single greatest vehicle for committing mortgage fraud. Collateral risk exposure without an efficient and effective intervention strategy often constrains production, lowers pull-through rates, and increases the potential for signifi cant loan losses. First American CoreLogic gives lenders and investors the most progressive and proven collateral risk management tools to avoid these consequences.

HistoryPro already provides many of the nation’s leading lenders a primary line of defense against fraud risk. HistoryPro’s proprietary risk assessment engine evaluates numerous elements to determine its innovative F-score. Factors analyzed include multiple
relationships and comparisons between key collateral metrics such as subject characteristics, pricing and appraisal attributes, and geographic conditions.

In addition, HistoryPro references foreclosure and volatility models, as well as other performance studies to incorporate the most accurate data possible while maintaining low false-positive rates.

ACCELERATING YOUR WORKFLOW

HistoryPro streamlines loan processing workflow. The information-rich decision dashboard uniquely equips any sized originator or investor to make quick, wellinformed decisions. HistoryPro’s industry standard metrics incorporate determinations on property flips,
flip markets and valuation patterns. These metrics are packaged in a highly detailed set of reports that include subject property characteristics and sales history detail, comparable values, nearby property sales information, market data, and a buyer’s and seller’s transaction summary. And HistoryPro offers a simplified report interface, faster query response, and richer data set, with a national hit rate of 96 percent.

FRONT-END SCREENING

Incorporating HistoryPro early in the loan process provides a cost-effective way to filter loans and portfolios for high-risk loans that warrant further investigation. Depending on client size, the financial payback of this approach is typically 10 to 20 times greater than the investment.

KEY BENEFITS

• Promotes proactive risk management practices
• Quickly identifies high-risk loans, reducing overall loan default exposure
• Accelerates workflow and production capacity without adding additional staff
• Enables more efficient use of AVMs
• Delivers easy-to-use report summaries via Web-based HTML, XML service, or bulk processing

PROCEEDING WITH CONFIDENCE

HistoryPro delivers the speed and efficiency to step up the pace of your business. And by ensuring a low false-positive rate, HistoryPro delivers significant savings by eliminating unnecessary subsequent analysis. In a recent head-to-head comparison by a top 20 mortgage originator comparing HistoryPro to another widely-used collateral scoring tool, HistoryPro’s F-Score detected the same percentage of loss-producing fraud by examining less than one-fifth of the loan files required by the other tool.