Flagstar says that the fraud detection tools will enable it to streamline its underwriting process by seamlessly capturing the Dissco and ValVerify red flag alerts and data directly into its system at the time underwriters are reviewing the loan files.
The vendor says Dissco searches hundreds of mortgage-related data fields in a loan record to identify and score the kinds of misinformation, inaccuracies and inconsistencies that could signal fraud. Dissco then produces a report with step-by-step recommendations for lenders on how to respond. ValVerify utilizes data including property characteristics, borrower data, employer information and other critical elements to produce a property score for valuation and flip analysis.
Combining DISSCO and ValVerify as an integrated value solution enables Flagstar to help its lenders protect themselves by reconfirming a property’s collateral value and its risk potential, said Kevin Coop, president of Interthinx.
