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Sacramento, CA -- In an effort to enhance its ability to detect and prevent loan fraud, C&S Marketing has upgraded its collateral risk scoring tool, HistoryPro.
HistoryPro shows the likelihood of foreclosure for a property in a statistical score. The upgrade allows customers to accelerate their loan processing workflow through a simplified report interface, faster query response times and a richer base data set.
"Fraud is on the rise and its prevention is critical to the mortgage lending industry," said Steve Schroeder, CEO of C&S Marketing. "Early detection is the key."
The Sacramento, Calif.-based provider of collateral risk assessment and fraud prevention solutions recently conducted an analysis of 600,000 loan originations using subject address and property value, exposing 20% of properties in a single area involved in loan fraud, then predicting 12-month loss estimates. The study also identified fraud rings, pinpointing where to tighten controls on third-party sellers.
C&S Marketing's proprietary risk assessment engine, which evaluates 45,000 loans per day and is used by nine of the 10 top U.S. lenders, evaluates numerous elements to determine ...
Source: HighBeam Research, C&S Marketing Enhances Fraud Detection with Scoring Tool.