Services
"Our partnership with BasePoint is based on our shared commitment to provide market-leading fraud prevention technology to the financial services industry."
BasePoint helps companies pin-point those mortgage loans where fraudulent misrepresentations are most likely to exist using our market leading FraudMark™ scoring solutions. Then, using the Enhanced Fraud Review, the process and checklist guide lenders and due diligence companies through an intelligent investigation to confirm fraudulent misrepresentations in suspect loans and preventing fraud from slipping through. The guided process uses an intelligent checklist that an underwriter completes, and which can dynamically adjust according to the underlying risk and information in the application itself.
Using BasePoint’s Fraud Organization Framework to define new risk management organizational structures, lenders can accelerate their success in minimizing fraud and risk. For investment banks, this service recommends the structure and staffing of the due diligence fraud review process. BasePoint’s new Fraud Organizational Framework is based on best practices in fraud management from within the mortgage industry as well as other areas of financial services including highly advanced organizational practices that have been developed in the credit card industry over the past two decades. BasePoint fraud consultants work with clients to design, introduce, and implement the right fraud management processes to achieve each organization’s fraud and risk management goals.
Expert Fraud Consulting
BasePoint consultants are experts in fraud and risk management. These former fraud and risk managers from the banking industry work with customers to introduce best practices, integrate analytics and reduce fraud losses and credit risk. The following offerings are available through our consultancy services:Enhanced Fraud Review
The Enhanced Fraud Review service includes both training for originators and due diligence companies and a dynamic, guided fraud review process to enable clients to more effectively and efficiently catch fraud. The guided review process intelligently adapts the flow of the fraud investigation, based on fraud review best practices and the outcome of early stages of the evaluation. Enhanced Fraud Review equips lenders and due diligence companies to take advantage of analytic technology, and perform the most effective and cost efficient review on high-risk loan files to confirm fraud early. Enhanced Fraud Review clients have achieved up to 400 percent increases in productivity and have enjoyed a substantial increase in confirmed fraud savings.BasePoint helps companies pin-point those mortgage loans where fraudulent misrepresentations are most likely to exist using our market leading FraudMark™ scoring solutions. Then, using the Enhanced Fraud Review, the process and checklist guide lenders and due diligence companies through an intelligent investigation to confirm fraudulent misrepresentations in suspect loans and preventing fraud from slipping through. The guided process uses an intelligent checklist that an underwriter completes, and which can dynamically adjust according to the underlying risk and information in the application itself.
Fraud Organizational Framework
The Fraud Organization Framework service facilitates improved risk and fraud management systemically. Lenders and investment banks are focused now more than ever on controlling credit and fraud risk. Investment banks are implementing FraudMark™ scoring before sampling for due diligence and using Enhanced Fraud Review at their due diligence companies for each loan trade. To ensure that fraudulent loans never reach the point of purchase, lenders are implementing organizational structures that ensure higher quality loans are ultimately funded before being sold on the secondary market.Using BasePoint’s Fraud Organization Framework to define new risk management organizational structures, lenders can accelerate their success in minimizing fraud and risk. For investment banks, this service recommends the structure and staffing of the due diligence fraud review process. BasePoint’s new Fraud Organizational Framework is based on best practices in fraud management from within the mortgage industry as well as other areas of financial services including highly advanced organizational practices that have been developed in the credit card industry over the past two decades. BasePoint fraud consultants work with clients to design, introduce, and implement the right fraud management processes to achieve each organization’s fraud and risk management goals.