FraudMark Now Available on Vector

Users of Vector now have access to FraudMark, a mortgage application fraud detection solution from BasePoint Analytics. FraudMark helps lenders cost-effectively target fraudulent loans in real-time through Vector, driving down fraud losses and increasing overall production. When used with Vector's LoanIQ solution, lenders can access an end-to-end fraud detection suite for both collateral and mortgage application fraud all within one platform.

Employing patent-pending neural network technology to uncover applicant, broker, appraiser, and loan officer fraud, FraudMark quickly identifies applications with the highest risk of fraud by providing a real-time score for each loan, ranging from a low-risk number of 1 to a high-risk number of 999. Delivered with each score are up to 15 risk indicators that provide insight into the leading factor(s) contributing to the score. Risk managers can set a threshold for the FraudMark score within their loan processing systems that assigns the percentage of loan volume to be reviewed. FraudMark has a low false positive ratio, resulting in an increased amount of fraud detected while keeping operational workflow efficient.

For more information, contact Robert L. Walker, CMB, CMT, executive vice president, collateral solutions for First American Real Estate Solutions at 714-250-6684 or by e-mail at robwalker@firstam.com.

First American Real Estate Solutions is a member of The First American Family of Companies and America's largest provider of advanced property and ownership information, analytics and services. First American RES' database covers nearly 2,900 counties representing 98 percent of the United States population. With more than 600,000 users nationwide, First American RES products are used by companies to improve customer acquisition and retention, detect and prevent fraud, improve mortgage transaction cycle time and cost efficiency, measure the value of residential and commercial properties, identify real estate trends and neighborhood characteristics, track market performance and increase market share. First American RES is a joint-venture company 80-percent-owned by The First American Corporation and 20-percent-owned by Experian. More information about First American RES can be found on the Internet at www.firstamres.com.

BasePoint Analytics, based in Carlsbad, California offers a unique combination of scientific fraud scoring software and expert services. Using sophisticated predictive analytics, BasePoint enables global banks and high volume mortgage lenders to quickly identify fraudulent transactions early in the process, minimizing fraud loss while accelerating the processing of non-fraudulent transactions. The company's fraud experts have deep, real-world domain expertise and have successfully solved fraud for some of the highest profile banks and lending institutions in the world. BasePoint's industry-leading customers include: New Century Mortgage, MasterCard, and JP Morgan Chase. In addition, the company has strategically partnered with First American Real Estate Solutions and Experian Fraud Solutions. For more information about BasePoint, visit www.basepointanalytics.com or call 760.602.4971.