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First American Data & Analytics Launches FraudGuard Home Equity Solution

First American Data & Analytics, a leading national provider of property-centric information, risk management and valuation solutions and a division of First American Financial Corporation, announced the launch of FraudGuard Home Equity, a new single-source solution for fraud risk management designed and configured specifically to help home equity lenders streamline their use of third-party vendors, while reducing costs and improving efficiency.

The FraudGuard Home Equity solution identifies undisclosed liabilities, validates identity, detects occupancy discrepancies, checks all applicable loan participants (including borrowers and employers) against industry exclusionary lists, and instantly provides a comprehensive property valuation report complete with property type, listing status and homeowner and condo association data. The solution, which integrates with all leading loan origination systems, covers 100% of residential properties in the U.S. and has targeted risk alerts specific to the home equity transaction that help lenders efficiently identify potential misrepresentation.

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“With this sophisticated, streamlined solution, lenders can assess the risk on a potential home equity loan using one centralized tool that analyzes all appropriate risk categories,” said Paul W. Harris, general manager, mortgage analytics for First American Data & Analytics. “The FraudGuard Home Equity solution provides a cost-effective and efficient way for lenders to close home equity transactions, while continuing to meet the quality standards of their origination process.”

The FraudGuard Home Equity tool is a customized version of the company’s industry-leading FraudGuard fraud analytics solution, which leverages public, private and proprietary data sources to help lenders identify risk and assess overall loan quality.

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