FactualID - Identity Report
Protect yourself against even the most difficult-to-detect mortgage fraud schemes. FactualID - Identity Report uses a cutting-edge, proprietary assessment engine to comprehensively identify borrower misrepresentation.
FactualID - Identity Report includes a complete set of results that include an overall risk score and alerts by category with actions and evidence data for further review and analysis. Through our proprietary, knowledge-based risk assessment engine, human problem solving is imitated by accessing a database of proprietary fraud-trending knowledge, which is collected, compiled, and maintained by mortgage fraud experts. This process accurately identifies borrower misrepresentations, lowers review rates, and decreases false positives.
Why FactualID - Identity Report?
- Compliance – Our service is compliant 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 – We offer a streamlined approach to identifying high-risk applicants within your loan originations – allowing you to effectively manage your risk exposure.
- Customizable risk assessments – Using our knowledge-based risk assessment engine, you can weigh the severity of every fraud alert according to your business processes, as well as customize the alerts and action steps for your processing staff so that it matches your investors’ requirements.
- Thorough searches – We conduct searches of the Office of Foreign Assets Control (OFAC) List of Specially Designated Nationals, the OFAC Non-SDN Palestinian Legislative Council List, and other exclusionary lists to help you ensure that you do not engage in transactions with identified “enemies” of the United States.
How FactualID - Identity Report works
Seconds after you provide us with the borrower’s name, Social Security number, and property address, you will receive a report that provides a comprehensive analysis of your applicant risk in real time.