Business Challenge
Before loan funding is finalized, we need to know the borrower isn’t about to fund multiple loans on the same property.
Solution: Multi-Lien Closing Alert Program
CoreLogic’s Multi-Closing Alert Program is your proactive defense against multi-lien fraud. Daily batch files listing hundreds of lenders’ scheduled loan-closings are submitted to CoreLogic. Files are then analyzed to identify scenarios where multiple lenders are moving to close on the same property. Lenders receive daily result notifications of each day’s analysis. In the event an attempted multi-lien closing is detected, the lender is alerted and provided with the pertinent loan-level detail, along with the contact information for the participants involved.
Multi-Lien Closing Alert Product Highlights
Avoid loan fraud in a timely, effective manner utilizing Multi-Closing Alert Program:
- Identify multi-lien fraud attempts pre- and post-funding
- Avoiding potential fraudulent loans, earn significant ROI
- Learn fraud prevention best practices from our monthly forum participant calls
CoreLogic delivers a variety of risk management mortgage solutions to improve your mortgage origination process. To learn more about the Multi-Lien Closing Alert Program or any of our other risk management programs, contact us today.