Risk Assessment Services | FactualID
FactualID accurately identifies borrower and occupancy misrepresentation by utilizing a proprietary, knowledge-based risk assessment engine that is based on the best industry practices.
How FactualID Works
Seconds after you provide us with three basic pieces of information - the borrower's name, Social Security number and the property address, we reply with a report that comprehensively assesses the risk of identity and occupancy misrepresentation and also searches the OFAC List of Specially Designated Nationals (SDN), the OFAC Non-SDN Palestinian Legislative Council List (NS-PLC) and other exclusionary lists. For easy assessment, results are translated into an easy-to-understand numerical risk score.
Why FactualID?
- Instant Results
You request and receive data through Kroll Factual Data’s online platform. Our secure click-for data interface provides a comprehensive analysis of your applicant risk in real time.
- Comprehensive Analysis
FactualID provides a comprehensive score and categorical risk factors based on a unique and independent evaluation of the applicant(s).
- Compliant Solution
FactualID assures compliance with the regulatory requirements of the PATRIOT Act. The extensive search algorithms are designed to eliminate non-quantifiable name similarities.
- Tracking, Trending and Reporting Management Solution
FactualID offers a streamlined approach to identifying high risk applicants within your loan originations, allowing you to effectively manage your risk exposure.
- Innovative Knowledge-based Analytics
Our proprietary knowledge-based risk assessment engine imitates human problem solving by accessing a database of proprietary fraud-trending knowledge which is collected, compiled and maintained by mortgage fraud experts. The result is accurate identification of misrepresentation, lower review rates and less false positives.
- Customizable
Our knowledge-based risk asssessment engine allows you to not only weigh the severity of every fraud alert according to your business processes, but also customize the alerts and action steps given to your processing staff so that it matches your investors' requirements.
- Detailed Reports
FactualID includes a comprehensive set of results including an overall score, alerts by category with actions and evidence data for further review and analysis.
- Experience
Kroll Factual Data's dedicated risk mitigation development team, which is comprised of experienced product designers, architects and analytical experts, has unparalleled experience developing innovative services that protect lenders from even the most difficult to detect fraud schemes.
