*Putting Together A fraud Think Tank*
**Solving Real Issues**
***CoreLogic, a provider of information, analytics and business services, today announced its Winter 2012 Mortgage Fraud Consortium Members’ Meeting beginning January 23, 2012. The three-day meeting is a unique, member-driven forum that invites lenders responsible for more than 80 percent of U.S. mortgage originations to discuss emerging mortgage fraud trends, interact with industry experts and share best practices. The Consortium is a cooperative initiative of the industry’s top mortgage lenders formed for the purpose of jointly understanding, detecting, and preventing mortgage fraud more effectively than each lender can individually.
****The keynote speaker is Rachel Dollar, a Certified Mortgage Banker and renowned attorney who represents lenders and secondary market investors in mortgage banking litigation matters. She is also editor of the Mortgage Fraud Blog, an acclaimed website for news and information on mortgage fraud and real estate fraud throughout the United States. Ms. Dollar will speak on the ongoing challenges of short sale fraud along with contractual provisions and litigation strategies to help attendees better define their approach to fraud loss recourse. She will also provide insight on recently litigated fraud cases.
****“There is great value in lenders sharing data, information, and insights to identify common fraud trends,” commented Rachel Dollar, Esq., CMB, of Smith Dollar PC. “The CoreLogic Mortgage Fraud Consortium creates a secure forum for lenders to converse openly about pressing fraud issues. This is a very positive initiative for the mortgage origination industry as a whole because lenders, investors and consumers all benefit from better fraud management.”
****“Our goal is to ensure lenders are well-informed about emerging mortgage fraud trends and equipped to effectively mitigate those risks. At this meeting, we will demonstrate the industry’s newest fraud prevention technology that enables lenders to leapfrog forward in their detection efforts. We will also provide attendees with an exclusive preview of our Mortgage Fraud Prevention Best Practices Study detailing lenders’ fraud prevention processes in origination and servicing,” stated Tim Grace, senior vice president of Data & Analytics Product Management at CoreLogic. “The results highlight strengths in key process areas as well as identify actionable gaps where criminals may potentially find opportunities.” The complete study will be released by the end of first quarter.
****Additional guest speakers include Jerome Mayne, a convicted real estate criminal who will share his journey from CEO to prison in a presentation entitled, “Fraud & Consequences,” and Tim Gallagher, FBI section chief for Financial Crimes and the National Program Manager of the FBI’s White Collar Crime Program. In addition to the external speakers, five lenders will lead interactive presentations on the application of tools and techniques to Valuation fraud, Collusion and internal fraud, Origination fraud, Strategic default patterns, and Fraud patterns in loan application data.
****The Mortgage Fraud Consortium was founded in 2008. Members represent more than 80 percent of the U.S. mortgage originations market and have agreed to contribute their loan application and fraud outcome data in exchange for quarterly fraud reporting, analytics and access to CoreLogic consortium-based mortgage fraud products. Members of the Mortgage Fraud Consortium have contributed more than 90 million loan applications to date and are adding millions more each year.