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It is estimated that the number of fraudulent loans issued during the first three months of 2008 skyrocketed 42%, compared with the same period in 2007. Unfortunately, these numbers continue to soar.
Mortgage fraud encompasses many types of deceit, including income and employment misrepresentation, cash back schemes, occupancy fraud (borrower applies for an investment property mortgage, yet states on the loan application that the property is intended to be a primary residence or second home), and shotgun scams (multiple loans are obtained for a total amount far greater than the home’s value). This swindling represents a significant percentage of fraud cases.
As a national provider of investigative services, ProVest delivers fraud detection solutions to its clients by leveraging existing technology and data mining resources. This results in customized solutions based upon our clients’ unique needs
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- Intelligent business logic and task automation
- Near real-time delivery of results
- Variable cost pricing models
- Maximum flexibility and choices
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