How to Read LoanSafe™ Fraud Manager Report

Report Header:

• The report header displays the user input data.

Fraud Risk Score & Top Score Contributors:

• Use the Fraud Risk Score to determine the likelihood of material misrepresentation.

• When the score is over 700, additional score contributors will be displayed.

Alerts & Recommendations:

• Easily navigate your review with alerts and recommendations. The alert and severity and recommendations can be tailored to fit your policies and procedures.

Alert Actions & Notes:

• See alert actions, recommendations and notes from LoanSafe™ Connect when the LoanSafe™ report is rerun.

Confirmation of Searches Performed:

• An at-a-glance summary of the searches conducted on borrowers and loan participants. Borrower searches include SSN validations, MERS, and watch list checks. Third Party searches include watch list and licensing agency checks when applicable.

• The SARA search, once enabled, provides a risk assessment for settlement agents. This feature is an Add-On product that incurs a nominal fee and requires an amendment to the contract.

Borrower AKAs:

• A watch list check is performed on the borrower AKAs that are returned from the SSN validation search.

Real Estate Owned (REO) Comparison Summary:

• Compare the REO disclosed by the borrower versus the REO that LoanSafe™ discovered.

Market Analysis & Subject Property Analysis:

• Get key data related to the subject property and the surrounding market to determine market conditions and potential valuation issues.

FEMA Disaster Information:

• Indicates the date and disaster type at the zip code and FIPS level where individual financial assistance has been granted.

Most Recent MLS Listing Information:

• See the most recent MLS listing information

Area Maps:

• Get a birds-eye-view of the surrounding market to evaluate nearby values and identify proximity to positive and negative influences.

Interactivity:

• You can view the area maps as either a standard map, with satellite imagery, or using Google Street View.

Subject Property Report:

• View the subject property details including transactions, sales, and loan history. Quickly identify unusual or distressed transactions.

Nearby Properties Review:

• See how the subject property compares with the nearby sales.

Nearby Sales:

• View the closest full value and distressed nearby sales. Sales are within the last 12 months.

Closest Property Records:

• View details and values of the properties surrounding the subject property.

Best Match:

• This identity validation includes SSN, date of birth, deceased check, and AKAs.

Other Identities Found: Identify possible identity issues by reviewing other names associated with the provided SSN.

Bankruptcy: Screen the borrower for potential undisclosed bankruptcies.

Liens & Judgements:

• When enabled, screen the borrower for potential liens and judgments. This is an Add-On product feature that requires a contract amendment with a nominal cost.

Government Watch List:

• Borrowers are screened against various government watch lists.

• OFAC, Sam.gov, FHA LDP, FHFA SCP

Data Verification:

The Borrower’s input address and phone number are validated for consistency.

Employer Validation:

• The Borrower’s employer’s phone number is run though a reverse phone search to validate the employer’s name and address.

Employer Site Map:

• Clearly and quickly see the proximity of the subject property, current address, and employer location. Google Maps provides additional interactivity, with map, satellite, or street view options.

Marijuana-Registered Business Search:

• The borrower’s employer is screened against a database of Marijuana Registered Businesses. These businesses are based on self-reported SIC (Standard Industrial Classification) code.

Borrower Associated Marijuana-Registered Business Search:

• Any businesses found to be associated with the borrower are also screened against the Marijuana Registered Businesses.

Borrower Associated Business Search:

• An associated business search is performed on all borrowers, confirming a disclosed business or identifying possible ownership of an undisclosed business.

Neighborhood Income Graph:

• Compares the neighborhood income of the borrower’s previous addresses to the neighborhood income of the subject property and the income on the application.

Loan Application Summary:

• Determine if the borrower has other mortgage applications with the same lender or a different lender that uses LoanSafe™.

Loan Registry Search:

• The MERS search returns registered mortgage loans based on the borrower’s SSN.

Owner Occupancy Analysis:

• A concise analysis of the borrower’s property ownership history and patterns.

Address Summary:

• Review the borrower’s address history and ownership. The address summary includes all borrower-associated properties found in our proprietary searches. Input REO is included. Each address includes the full history, current owner, assessor information including tax amount, and foreclosures, NODs, and possible short sales.

Addresses For Best Match Identity:

• The house icon represents the most likely current primary residence. MLS is searched on currently-owned properties and listed properties will be marked with a for-sale sign.

Nationwide Mortgage Licensing System & Registry:

• Quickly verify license information for the loan originators. By default, both State and Federal registrations are searched. If desired, LoanSafe™ can be configured to search one or the other.

Appraiser Licensing:

• Easily determine the appraiser license status and state as found in the Appraiser Subcommittee (ASC) registry.

Settlement Agent Risk Assessment:

• Optional Settlement Agent Risk Assessment (SARA) add-on screens settlement agents for licensure, insurance, and authorizations. SARA also provides validated wire instructions.

• This is an Add-On product feature with a nominal cost and requires a contract amendment.

Derogatory Lists & OFAC screening for Third Parties:

• Automatically screen third-party loan participants against multiple watch lists. Results include the name and address of the possible match to assist in determining if there is a true match.

• LoanSafe™ also offers the ability to screen participants against a client-supplied watch list.

• An “As of Search Date” displays for each watch list, determining the recency of the list.

5-Year Price Trend:

• See the price trends over the past five years for the surrounding market.

Sales and Foreclosure Activity Trend:

• View the quantity of sales and foreclosures over time for the market surrounding the subject property.

Zip Code Summary:

• Provides a Collateral Risk Score on all loans within the subject property zip code. The scale is 0–25, with 0 being the lowest risk. Your loans within the zip code are also scored for comparison.

Recent Loan Detail:

• Review transaction risk on your book of business within the subject property zip code.

Market Owner Occupancy Data:

• Gain perspective on the market based on census tract information, including Owner Occupancy rates vs Renter Occupancy rates; Percentage of Single-Family Residence vs Multi-Unit Residences and large complexes

Buyers and Sellers:

• Review the Buyers and Sellers in the area.