Mortgage Cadence, Inc., a provider of origination technology for the mortgage industry, said Wednesday that it had integrated its enterprise lending platform, called Orchestrator, with DataVerify’s DRIVE platform. The combined solution provides Mortgage Cadence customers with a set of tools to combat fraud and streamline verifications, the company said in a press statement. “The integration with DataVerify, a leading fraud detection and prevention platform, enhances our overall compliance offering and provides customers with a seamless loan data feed into the DRIVE platform that then returns comprehensive and imperative information back into Mortgage Cadence Orchestrator,” said Tim Counterman, director of product management & compliance at Mortgage Cadence. “The reports and scores that are returned allow Orchestrator users to quickly identify legitimate borrowers while reducing false positives, ensuring compliance with Red Flag Rules and minimizing costly queries to the Social Security Administration.” In addition, DataVerify provides a proprietary collateral risk assessment model that evaluates market and subject property characteristics to determine the overall collateral risk, the companies said. This assessment provides public and non-public data analysis of foreclosure activity, flip activity, subject transfer history, geographic conditions, and market sale. Chief information office at DataVerify, Mike Moseler, said that the combined solution leverages native rules engines both within the Mortgage Cadence platform and DataVerify to automate fraud detection. Fraud management and compliance issues have been at the forefront of most lenders’ radar screens this year, as originators look to minimize buyback risks for their businesses. For more information, visit http://www.mortgagecadence.com and http://www.dataverify.com. Write to Paul Jackson at paul.jackson@housingwire.com.
Paul Jackson is the former publisher and CEO at HousingWire.see full bio
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Paul Jackson is the former publisher and CEO at HousingWire.see full bio