MARI - Mortgage Fraud Mitigation
MARISM is a leading provider of mortgage fraud risk management solutions that include professional license verifications, alert services and mortgage fraud prevention solutions. MARI designed and developed the Mortgage Industry Data Exchange (MIDEX®) database for the mortgage and financial services industries. MIDEX contains public and proprietary information that is used to perform fraud due diligence and background checks on professionals including mortgage brokers, correspondent lenders, loan officers, appraisers and real estate agents as well as firms in the industry.
Whether users are investigating alleged fraud, ensuring brokers have current licenses, or performing enhanced background and identity checks, MARI is one of the industry's most trusted sources for information on mortgage industry participants.
The Mortgage Industry Data Exchange (MIDEX) is the only industry-contributed repository used for verifying and credentialing professionals and companies. The database contains a unique combination of industry-contributed investigations of adverse activity, public disciplinary and licensing information.
MIDEX is a cooperative database, which contains the following:
- Public disciplinary actions and sanctions data.
- Non-public subscriber-contributed incidents of misrepresentation.
- Licensing data.
Subscribers use MIDEX to perform:
- Initial background checks on individuals or firms with whom they have a pending business transaction.
- Periodic reviews of all real estate or mortgage professionals with whom they do business.
- Quality control investigations.
MIDEX Services
- Non-Public Contributory Incidents Search
- Public Disciplinary Actions and Sanctions Search
- Professional License Verification
- Mortgage Fraud Alert System (MFAS)
- ProWatch
MARI Loan Fraud Alert Service (LFAS) analyzes loan information to help discover potentially fraudulent activity during prefunding. LFAS can help you identify loan transactions that exhibit fraud patterns such as chunking, shotgunning, churning, property flipping, silent seconds and double escrows.
LFAS Pro combines the comparative loan analysis power of the core LFAS engine with robust Identity Risk Management tools to flag potential fraud across multiple loan applications. It can provide valuable insight into the industry professionals that comprise the loan transaction, such as the mortgage broker, appraiser and closing attorney.
LFAS Pro integrates several components of an effective Identity Risk Management program that help you determine if a particular transaction is at risk:
Identity Verification
- Leverage the proven capability of ChoicePoint's Identity Verification service, which can help you authenticate and verify the identity of a borrower, and determine if a borrower is using additional aliases or Social Security numbers.
Licensing Verification
- With the Mortgage Industry Data Exchange (MIDEX), the industry standard for licensing and credentialing, you can quickly identify whether brokers, appraisers and realtors are appropriately licensed and if they have been licensed in a different profession or state. MIDEX services are used by 12 of the top 15 U.S. mortgage lenders.
Professional Credentialing Verification
- MIDEX can also help you unearth adverse activity, public disciplinary and other derogatory information about professional third parties, and is the only industry-contributed repository used for initial and ongoing verification and credentialing of professionals and companies.
MARI offers extended risk mitigation solutions that provide subscribers with instant access to online and custom services to manage enhanced compliance and background screening of industry professional and companies. Services available include:
Identity Verification
- Validates identities of individuals and businesses with minimal information.
- Utilizes advanced analytics that produce risk scores to help automate risk-based decision processes.
- Returns immediate results in reports that explain areas presenting the most risk.
- Includes OFAC checks.
National Credit Check with Social Security Number Fraud Check
- Provides a credit check with a national credit bureau that also returns a credit score.
- Identifies known high-risk fraudulent address information by completing a Social Security number and Fraud Alert Service check.
National Criminal File
- Searches more than 100 million criminal records nationwide.
- Provides prison, parole and release information.
- Reveals felony convictions.
- Offers an added check of the sexual offenders database.
The MARI Mortgage Fraud Alert System (MFAS) provides subscribers with notifications of ongoing fraud schemes and patterns. Information is contributed by subscribers and other third-party sources, and then distributed via electronic notification.
Learn more about MARI mortgage fraud solutions.
