LPS FRAUD SOLUTIONS
Lender Processing Services helps clients tackle fraud using technology that verifies borrowers’ true identities, nails down an accurate accounting of income and makes certain the value of any collateral.
Be sure you know who you’re lending to — and what their ability is to pay back their loan with
LPS verification and collateral risk solutions.
We confirm borrower facts with direct links to the U.S. Social Security Administration, the Internal Revenue Service and employers. In addition, LPS can check for other instances of potential mortgage and consumer loan fraud by identifying suspicious transactions and alerting you to flip, collateral and shotgun risks.
OUR PRODUCTS
LPS’ identity verification crosschecks Social Security numbers, SSA’s death list and U.S. Department of Homeland Security’s watch list. Our income verification gets from the IRS information from 1040 forms and business income tax returns and obtains a borrower’s overall record with the IRS. LPS calls employers directly to verify employment claims.
The company’s fraud solutions take our clients a step further. Our FraudDetector™ is a quick and inexpensive fraud screening tool that rates four areas: borrower identity, property occupancy status, property valuation and suspicious transactions and flips propensity.
Other products such as FraudDetector™ Plus and HQFraud ID™ provide detailed fraud screening reports with additional information about the collateral property and the surrounding area while providing recommendations for the most significant issues detected.