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C&S Marketing Enhances Fraud Detection with Scoring Tool.

Mortgage Servicing News

| July 01, 2005 | Comtois, James | COPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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