First American Real Estate Solutions and BasePoint Analytics Announce Strategic Partnership
June 27, 2005
Alliance Provides Mortgage Lenders With Customizable Portfolio of Fraud Solutions and Services
ANAHEIM, Calif., /PRNewswire-FirstCall/ -- First American Real Estate Solutions (RES®), a national provider of advanced property and ownership information, solutions and services; and BasePoint Analytics, a provider of custom analytics and fraud consulting, today announced a strategic partnership aimed at helping mortgage lenders measure fraud losses and minimize fraud exposure by deploying advanced analytics and by optimizing the loan review processes within the lender's existing production environment. As part of this strategic partnership, and to demonstrate its commitment to the success of the alliance, First American has purchased a minority interest in BasePoint Analytics.
"The BasePoint Analytics partnership complements our line of mortgage solutions by providing full-service fraud diagnostics and custom analytic services," said George Livermore, president of First American Real Estate Solutions. "Through this partnership, our clients can quickly establish a baseline on their level of fraud exposure and rapidly implement a balanced approach to minimizing fraud losses while maximizing loan production and approval rates."
In today's environment, mortgage lenders use multiple tools, processes and strategies to prevent fraud. These efforts require ongoing assessment to ensure optimization of each component. BasePoint Analytics helps lenders streamline this process and further reduce fraud losses by deploying methodologies that have successfully reduced fraud losses in the credit card and retail banking industries.
"Mortgage lenders are looking for two fundamental solutions: measuring the scope of their current exposure and minimizing that exposure without impacting existing systems and processes," said Stephen Platt, chief executive officer of BasePoint Analytics. "Our experts work directly with lenders to review their historic loan performance and provide a full benchmark of their fraud performance. We then help them drive down those losses to industry best-in- class levels by designing and implementing customized solutions that are uniquely tailored to the lender's business and technology environment."
Source: The First American Corporation