Factual Data Corp. and AppIntell, Inc. Partner to Provide DISSCOScan Comprehensive Fraud Detection Service in the Mortgage Industry
|April 10, 2002|
LOVELAND, CO -- Factual Data Corp., (FDCC) and AppIntell, Inc. has establish a strategic partnership to provide DISSCOScan, the most comprehensive pre-funding or post funding Internet-based fraud solution in the lending industry. DISSCOScan includes AppIntell's DISSCO Scoring model, Valverify property valuation and Factual Data Corp.'s CreditScan fraud and identity theft model as well as 1 to 3 credit scores and credit reports.
AppIntell's systems are built with the best rules-based technology and neural network intelligence and are deliverable in 15 seconds combined with Factual Data's online merged credit reports and CreditScan fraud and identity theft technology.
"This service offering and partnership has blended the best fraud products available on the market today to provide a technological solution to the rapidly increasing problem of fraud in mortgage lending at a price point that is now affordable to all lenders. DISSCOScan will significantly reduce lenders costs in the area of risk exposure concerning buy-backs, loss mitigation costs and monetary losses due to loans funded that included fraud before underwriting. We are very excited about this service offering and see it as a tremendous opportunity for expansion into new markets," said Dave Vinson, chief sales officer for Factual Data Corp.
"Wholesalers, warehouse lenders, mortgage insurers and investors recognize the added value of pre-verified application and property value information combined with credit rating reviews to enhance the performance of their portfolios and reduce losses," said Steve Halper, AppIntell CEO. "With a fraction of the time and cost historically spent on due diligence, our combined products will streamline the online origination process. Our goal is to meet the mortgage industry's demand for the use of online high tech solutions delivered in a secure environment," continued Mr. Halper.
Source: Factual Data Corp.