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Combating Fraud in Home Equity Lending: The Enemy of My Enemy Is My FriendPublished by: IDC Published: Jan. 4, 2007 - 11 Pages Table of ContentsTable of Contents Financial Insights Opinion In This Report Brief Description of the Solution Situation Overview Real Estate Industry Challenges Figure: Value of Mortgage Fraud Losses and Number of Cases Reported, 1999?2005 Figure: U.S. Mortgage Fraud Incidents per Capita by State, 2004 Challenges Specific to the Home Equity Portfolio Growth Low Line Utilization Online Fraud Risks Actual Incidences of Home Equity Fraud Last But Not Least: The Checking Account Future Outlook Figure: Effect of Analytics Tools on Fraud Detection, 1990?2004 Essential Guidance Actions for Financial Institutions Actions for Vendors Learn More Related Research Synopsis AbstractThis Financial Insights report examines the results of new our research on the emergence of fraud in the home equity portfolio and advises lenders on how best to recognize and better manage home equity portfolio fraud. Mortgage and home equity loans are similar products ? the only real differences are in the lien position of the mortgage and in the way that the customer gains access to the funds. "It stands to reason then that fraud in home equity lending would look very much like fraud in mortgage lending," said Christine Pratt, research director for Consumer Banking and Credit. "In most cases that is true, but what isn't true is that home equity lenders are always mortgage lenders, or that they know how to defend against fraud risk." Get Full Details About This Report >> |
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