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Mortgage Association Proposes Database to Fight Fraud
By Matt Squire
printA mortgage lending association has plans to create a database that will allow users to share data on specific instances of suspected fraud. Lenders Technology Corp. (LTC), a subsidiary of the Washington, D.C.-based industry group Mortgage Bankers Association, issued a request for proposal on September 5 to vendors to build the database, intended to store and analyze data from the millions of mortgage loan applications filed annually. The information would be shared among mortgage lenders that pay a "reasonable" fee to participate, according to the proposal. The association and its partners would build the database by collecting information on the...
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