FraudGUARD Module

Property valuation fraud and collateral risk continue to plague the residential mortgage industry. Short Sale fraud is on the rise and extremely challenging to identify with public record data alone. Thorough front-end data checks are critical to understand risk associated with subject property value.

Interthinx^® proudly offers an unparalleled and comprehensive inclusion of MLS data within the property section of FraudGUARD^®. The addition of MLS data provides up-to-date market insight into the subject property and the neighborhood listings. Unlike public data, MLS data provides the present condition of the subject property in addition to the property details for both the subject property and the area active listings.

This innovative FraudGUARD module includes:

Subject Property Details Based on MLS

The current Subject Property Overview page within FraudGUARD has been updated with details based on MLS. With this MLS module, the section includes:

A link from the Subject Property Overview page to quickly and easily navigate to the MLS Details section

Details such as subject property highlights, property flags and additional data based on MLS

Broker Remarks and Comments

Area Active Listings Page

The new page includes:

A map that displays the location of the subject property and up to 20 area active listings in relation to the subject property based on MLS

A table summarizing the area active listings

Ability to sort the area active listings by list price, days on market, square footage, year built and distance from the subject property

User initiated expansion to view additional details of each active listing

New Variances Based on MLS Data Analysis

The new variances...

Compare the MLS Listing Price of the Subject Property to the Public Closed Sale data to alert users of a declining market condition and a potential Short Sale fraud

Identify neighborhood integrity marketability issues by comparing the subject property and active listing days on market

Compare property characteristics based on MLS Data vs. Public Data

Current Market Insight

Unlike public data, the MLS data displays the present condition of the subject property, property details and details of the area active listings. The inclusion of MLS data within FraudGUARD provides current market insight into the subject property and the neighborhood listings. With the addition of MLS data to public record data, Short Sale fraud is more likely to be identified. Public record data alone is not sufficient in this case due to the delay in receiving notification of closed recorded sales.

Broker Comments & Remarks

The Broker Comments and Remarks on the subject property within the report help users to easily view updated/corrected information on the subject property. The details included can provide information about the subject property that may have been overlooked or intentionally omitted from the appraisal report.

Identification of Collateral Risk

FraudGUARD not only provides a "just-in-time" view of the subject property utilizing MLS data but also provides a view based on public and private closed sales data. The comparison of MLS data to the public data identifies value issues with the subject property. The new variances impact the property score and clearly identify the overall possibility of any collateral risk.

The robust MLS data set provides better coverage to identify collateral risk.

Easy to Read

The same look and feel of FraudGUARD has been extended to the MLS sections for ease of use. The updated section allows users to quickly identify anomalies between MLS and Public data.

General Availability
Now

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