Hansen Adds Fraud Prevention to Risk Management Tool.(Hansen Quality)

Jacksonville, FL -- Fidelity National Information Services' Hansen Quality, a provider of collateral valuation and appraisal review products, has launched an automated fraud screening tool with a focus on identity fraud. This new product will help mortgage lenders and investors detect identity fraud and other intentional misrepresentation on new loans or on loans in existing portfolios.

With its fraud screening component, the HQ FraudID report searches over 70 potential risk indicators to determine the level of risk associated with each potential borrower. This includes multiple verification of the borrower's name or names, address, Social Security number, phone number, as well as other pertinent information.

The results of the verifications are summarized and assigned an Identity Fraud Score, which indicates the severity of risk factors detected for identity theft, intentional misrepresentation, fraud, or elevated credit risks.

In addition to providing the risk indicating scores, each HQ FraudID report provides details regarding the risk indicators used to calculate the scores, as well as information that, while not used in the scoring, may provide direction for further investigation. The report concludes with a specific recommendation for further due diligence needed to minimize losses associated with the subject transaction.

The HQ FraudID report is an automated solution, returning reports in minutes, and often seconds, at a cost similar to that of an AVM. While the information needed to place an order is minimal, it facilitates significant results. The required fields are borrower name, address (either the subject property or the borrower's residence), Social Security number and loan number. Additional input (date of birth, home and work phone numbers, driver's license number and home address) allows for more thorough screening.

The HQ Fraud Score rates risk on a scale similar to credit scores. Reports may be ordered individually through the website or in bulk via e-mail. Lenders and investors can minimize their fraud losses by auditing or performing due diligence on loans with the highest fraud scores.

Concurrently, Hansen Quality is also announcing Preview FP, which includes not only the HQ FraudID report but also Hansen Quality's industry-standard Preview collateral risk management report and ValueSure AVM. The HQ Collateral Score is based on multiple verification of risk indicators, including appraiser performance, areas review history, automated valuation models, ...