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Looking for Help to Confirm Borrower Identity, Detect Application Inconsistencies or Combat the Threat of Fraud?

Approximately 60% of mortgage fraud includes discrepancies in borrower identity. It has also been reported that up to 40% of credit reports can contain an ID alert. The SIR ID Investigation Report allows you to validate borrower identification, identify/address discrepancies in ID and even tackle those applications with high risk associated with borrower ID.

There has never been a better time to have the optimum tools to validate borrower identity. On November 18, Fannie Mae successfully implemented its modification to Desktop Underwriter and is now underwriting loan files with a one credit report credit freeze. Fannie has specifically called for the review of borrower identity as part of this change and to mitigate any possibility of ID fraud.

The SIR ID Investigation Report features verifications of the following borrower ID components:

  • First, Last Name
  • SSN, ITIN
  • Social Security Death Master List
  • Address
  • Phone
  • DOB
  • Watch List Information From OFAC-SDN, GSA-EPLS, HUD-LDP

 

This report returns a Validation Risk Score which provides a quick indicator of the validity and consistency of the input information versus public data. Also returned are detailed results of all verifications, potential risk factors and the frequency the borrower information has been searched.

The SIR ID Investigation Report employs a massive network of consumer information from sources such as credit header file data, utility invoice data, USPS, SSA, Warranty and Subscription data and many more.

Research has shown that using validation reports such as the ID Investigation Report and the SIR ADV-120 Full Application Validation Report can save valuable processor and underwriting time which increases productivity and efficiency in the loan approval process. Our solutions help to clear false alerts and identify the real risk in borrower application data. These solutions are available from our technology, or from some LOS platforms.

Please contact us or emailĀ [email protected] for a sample report.