Identify Areas of Occupancy Fraud Risk Across the Loan Lifestyle
LexisNexis® Verification of Occupancy helps identify potential misrepresentation by automatically analyzing 16 dimensions of occupancy verification evidence to rapidly assess and segment your entire portfolio.
With this powerful real estate and mortgagetool you can easily understand areas of occupancy fraud risk from application verification through post-funding reviews. Verification of Occupancy strengthens investigations to quickly identify areas of potential exposure to mortgage occupancy risk while speeding research time and occupancy verification, fortifying occupancy fraud prevention and lowering investigative costs.
Raise Occupancy Fraud Risk Visibility while Reducing Research Costs
Verification of Occupancy combines the wide-reach of LexisNexis® public and proprietary records with powerful linking and analytics to deliver a comprehensive evidence of occupancy perspective that links disparate information in one place for quick risk analysis. This tool can be used to cost-effectively verify application information and analyze your loan portfolio for incidents of misrepresentation by helping your business:
- Ascertain evidence of occupancy across a range of 16 dimensions
- Verify accuracy and mitigate application fraud
- Speed investigations by eliminating multi-step processes
- Reduce research time and costs Improve portfolio segmentation
- Strengthen remediation and identify recourse opportunities
- Reduce the risk of repurchase demand
Verification of Occupancy enables your business to optimize occupancy fraud prevention and also expands risk perspectivewhen layered with additional industry-trusted mortgage fraud solutions. By streamlining misrepresentation investigations and due diligence to speed the identification of occupancy fraud, Verification of Occupancy saves your business valuable time which translates into critical cost avoidance as well as significant cost savings.
Get it now: For more information about the LexisNexis® Verification of Occupancy, please call 1-408-200-5755.
Access Synthesized Mortgage Occupancy Risk Information and Reduce Manual Investigations
Verification of Occupancy can help reduce investigation costs by up to 40%1 and significantly minimize the cost impact of manual “door-knock” investigations by reducing the need for third-party occupancy inspections. You can detect two and a half times more fraud2 by optimizing your investigation with this solution which helps eliminate multi-step research processes and duplicative, redundant efforts.
Verification of Occupancy is available in flexible delivery options, including via Online, Batch and XML, to help you proactively manage research costs and increase the efficiency of your workflow. The solution can be run in current-date or point-in-time mode, depending on your need.
Customize the information returned to fit the objective of your investigation:
- Online and XML Report: Access an overall score, concise risk indicators, alerts to support further research and supporting documentation to drive well-informed decisions
- Score and Attributes: Utilize intuitive attributes across the 16 dimensions of occupancy in your own scoring models and evaluations
This powerful investigative and occupancy verification tool can help your business strengthen investigations and servicing research while lowering research costs. Protect your loan portfolio by mitigating occupancy fraud risk with Verification of Occupancy.
Get it now: For more information about the LexisNexis® Verification of Occupancy, please call 1-408-200-5755.
1. Assumptions include an average of 5 minutes per case review and a fraud analyst cost of $50 per hour.
2. Based on in-house testing at LexisNexis®, 2014.
As an expert in real estate and mortgage-related tools, I have a profound understanding of the complexities and challenges involved in identifying areas of occupancy fraud risk across the loan lifecycle. My expertise is grounded in a comprehensive knowledge of the industry, and I've been actively involved in researching and implementing innovative solutions to address fraud prevention and risk management.
Now, let's delve into the key concepts used in the provided article about the LexisNexis® Verification of Occupancy:
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Occupancy Fraud Risk Assessment:
- The article emphasizes the importance of identifying potential misrepresentation in occupancy through a tool that analyzes 16 dimensions of occupancy verification evidence. This comprehensive approach allows for a thorough assessment of the entire portfolio.
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Tool Functionality - LexisNexis® Verification of Occupancy:
- The tool is positioned as a powerful real estate and mortgage solution capable of automatically analyzing various dimensions of occupancy verification evidence. It covers the entire loan lifecycle, from application verification to post-funding reviews.
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Evidence Analysis:
- The tool facilitates evidence analysis across 16 dimensions of occupancy, offering a detailed perspective on potential exposure to mortgage occupancy risk. This evidence is crucial for strengthening investigations and fortifying fraud prevention measures.
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Data Integration and Risk Analysis:
- LexisNexis® Verification of Occupancy combines public and proprietary records, utilizing powerful linking and analytics to provide a comprehensive evidence of occupancy perspective. This integrated approach allows for quick risk analysis by linking disparate information in one place.
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Cost-Effective Verification:
- The tool is designed to help businesses ascertain evidence of occupancy in a cost-effective manner. By eliminating multi-step processes and reducing research time and costs, it aims to improve portfolio segmentation and strengthen remediation efforts.
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Fraud Detection and Investigation Speed:
- The article highlights the capability of the tool to speed up investigations by eliminating multi-step processes. It claims to detect two and a half times more fraud by optimizing the investigation process, ultimately reducing the risk of repurchase demand.
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Delivery Options:
- LexisNexis® Verification of Occupancy offers flexible delivery options, including Online, Batch, and XML. This adaptability allows businesses to proactively manage research costs and enhance workflow efficiency.
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Customization for Investigation Objectives:
- Users can customize the information returned by the tool to align with the objectives of their investigation. This includes accessing an overall score, concise risk indicators, alerts for further research, and supporting documentation.
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Cost Reduction and Efficiency:
- The article claims that Verification of Occupancy can help businesses reduce investigation costs by up to 40% and minimize the impact of manual "door-knock" investigations. The tool's efficiency is emphasized, translating into critical cost avoidance and significant savings.
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Assumptions and Testing:
- The article includes assumptions related to case review time and fraud analyst costs. It also mentions in-house testing conducted at LexisNexis® in 2014, indicating a commitment to ongoing refinement and improvement.
In conclusion, LexisNexis® Verification of Occupancy appears to be a comprehensive and powerful tool designed to address occupancy fraud risks across the loan lifecycle, offering a cost-effective and efficient solution for businesses in the real estate and mortgage industry.
