FraudMark is an unprecedented mortgage fraud detection tool that transforms traditional application data using sophisticated analytics. Offering much more than one-dimensional decision platform offerings, FraudMark allows you to easily and cost-effectively:

  • Highlight suspicious mortgage  applications
  • Determine fraud risk before applications go to offer or approval
  • Score mortgage applications to streamline referrals and reduce false positives
  • Identify patterns of risk, including behavioural trends, to predict the likelihood of financial loss
  • Leverage historical patterns of fraudulent and non-fraudulent loans and clusters of statistically unusual behaviour to identify the highest risk applicants

Mortgage Application Fraud Assessment

Fraudulent mortgage applications commonly have one or more elements that simply don’t add up. But with mortgage fraud attacks becoming increasingly more sophisticated,  tools to detect fraud risk  at the application stage have had to evolve as well. FraudMark ranks mortgage applications on a continuous scale of 1, which represents little fraud risk, to 999, which indicates a high potential for fraud. Using patented pattern recognition technology to highlight inconsistent factors within application data, FraudMark flags those mortgages with the higher fraud risk.

Ranking Fraud Risk

As fraudsters become ever more sophisticated, detection needs to keep pace with emerging fraud  patterns. Relying on known fraud data means that detection is always dependent on discovery. The unique advantage of FraudMark is that it looks across an application as a whole to see whether the sum of the parts is rational and believable. This ranking of fraud risk allows a more streamlined approach to risk management.  More detailed investigations can be performed for higher risk applications, whilst less attention would need to be directed towards lower scoring applications.





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