Overview
Fraud Reports
Mortgage fraud statistics, trends and performance analytics that validate the precision of the Interthinx scoring system for mortgage risk exposure.
Compiled by the Interthinx analytics team. The Q2 2010 Interthinx Mortgage Fraud Index tracks the risk of mortgage fraud throughout the United States. The national Mortgage Fraud Risk Index increased by 12% from the same quarter a year ago to 145 (n=100), a 3% decrease in the Index from the previous quarter.
This paper discusses the crucial core components of a fully comprehensive fraud solution, describes the Interthinx approach to fraud mitigation and how it leads to enhanced fraud avoidance and lower operating costs, illustrates Interthinx training resources, and discusses process review.
Utilizing performance data, Interthinx analyzed incidents of 30, 60, 90 and 120+ day late payments, defaults and foreclosures for over 2 million loans. By comparing this data to previous fraud scores and red flags from loan applications, Interthinx is able to quantitatively measure the ability of its loan level risk mitigation tools to detect high risk loans.
“Fraud Related Activity/Useful Date” Reports provide quarterly statistics based on data provided by Interthinx clients, internal and external Interthinx data sources, Interthinx product scoring results and human decision making logic.
These reports examine changes in types of potential fraud observed by Interthinx in the U.S. residential mortgage market. We use data from the Interthinx National Fraud Protection Database (NFPD), which supports our risk mitigation tools DISSCO and FraudGuard.
