leveraging mers data to fight fraud?

8/2/2019 Leveraging Mers data to fight fraud?

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Leveraging MERS Data to Fight FraudKatie Paolangeli, Business Integration Director

MERSCorp


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Identifying Fraud, Leveraging the Tools for Early Detection22

Fraud Detection Tools

MERS Members MERSSystem (MERSOnLine)

MIN Information MIN Find RH and RI Reports

MINS for the Same Primary Borrower SSN, Property andFirst Lien

XML Inquiry Transaction MERS Link

MERSLink Subscribers MERSLink

General Public MERSServicerID


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MERSSystem (MERSOnLine)

MIN Find SSN search

Pre-funding for undisclosed liens

Post-funding for silent seconds or simultaneousclosings on additional properties

Borrower name search

Pre-funding for undisclosed liens under same namebut different SSN

Property address search

Pre-funding for confirmation of existing liens and

ownership

Additionally might show a history of continuous

refinancing (brokers flipping their old pipeline)

MIN, FHA/VA/MI Certificate Number, Group searches


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Click on MINInformation

MERSSystem MIN Information


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Enter SSN andhit Begin Search

MERSSystem MIN Find


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SSN matches are returnedclick on hyperlink for loan

detail

MERSSystem MIN Find

Red Flag multiple names

with the same SSN


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MERSSystem MIN Find

Click on hyperlink forcontact information

on Servicer


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XML Inquiry Transaction

XML Inquiry Transaction

System-to-system interface allows MERS Members to search theMERSSystem using various borrower, property information or MINselection criteria

Mimics MIN Find functionality but allows for small batch processing

and automation up to 5 requests per batch SSN search


Post-funding for silent seconds or simultaneous closings onadditional properties


Pre-funding for confirmation of existing liens and ownership Additionally might show a history of continuous refinancing

(brokers flipping their old pipeline)


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MERSLINK

Browser-based access to the MERSSystem enables subscribersand members to retrieve information regarding the current servicer ofa mortgage registered on the MERSSystem.

https://www.mersonline.org/merslink If supported by the servicer, you can also "hot link" to the servicer's website for

customer service information

ALTA members can access MERSLink by going to ALTA's MERSLinkwebsite

Access also available for MERS members through MERSOnLine as anoption on the Main Menu

Many Underwriters prefer the look of the loan detail screen on the MERS

Link search, as it provides detail on the trustee as well as the recordinginformation
https://www.mersonline.org/merslinkhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttp://www.alta.org/technology/mers.cfmhttps://www.mersonline.org/merslink


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MERSLink

Search

SSN search


Post-funding for silent seconds or simultaneous closings on

additional properties

Borrower name search

Pre-funding for undisclosed liens under same name but different

SSN


Pre-funding for confirmation of existing liens and ownership

Additionally might show a history of continuous refinancing(brokers flipping their old pipeline)

MIN or FHA/VA/MI Certificate Number searches


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MERSServicerID

Free tool established to assist the public in theidentification of the Servicer of any loanregistered on the MERSSystem

MERS membership is not required Internet Access

https://www.mers-servicerid.org Search By

Property Address pre-funding undisclosed liens on the subjectproperty and post funding for silent seconds

Borrower Name, SSN and Zip Code Combination pre-funding

for undisclosed liens in same geographical area Borrower Name, SSN and Zip Code Combination post-

funding for silent seconds or simultaneous closings in samegeographical area

MIN or FHA/VA/MI Certificate number
https://www.mers-servicerid.org/https://www.mers-servicerid.org/https://www.mers-servicerid.org/https://www.mers-servicerid.org/


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MERSServicerID

Click onMERS

ServicerID

Click on Sign On


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MERSServicerID

Select Search By Property

Address/Borrower Details

Next, select one of the threesearch options


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MERSServicerID

Current Loan

Click on Servicer hyperlink togo to the servicers website


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MERS Industry Cooperation

MERS Response to the Mortgage Banker AssociationsFraud Database RFI

Cooperative technology based on industry standards Leverage the existing MERS infrastructure

MERS Organizational Identification Number (Org ID) is thelogical method for subscribers to identify trading partners on thefraud database

The Mortgage Identification Number (MIN) is the existing industrystandard required for identifying loan-level information on the frauddatabase

Collaborate with existing fraud detection vendors

MERS Standards Support for the Conference of StateBank Supervisors Nationwide Mortgage LicensingSystem

MERS Organizational ID Number (Org ID) uniquely identifiesmortgage-related trading partners, including mortgage brokers and is inwidespread use today as the industry standard identification method

The Mortgage Identification Number (MIN) allows for the associationof loan originators with loan performance over time


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Resources

On www.mersinc.org click onthe MERS Fraud Tools tab

Manuals - Quick Reference Guide on MERS Fraud Tools

Publications - Case Study: Indymac's Use of FraudDetection Tools Within the MERS System
http://www.mersinc.org/http://www.mersinc.org/


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Questions?

Ann Fulmer

Interthinx Vice President Business Relations [email protected] 770-723-1610

Edward W. Geiger

FBI Supervisory Special Agent, Financial Institution Fraud/Asset Forfeiture Unit [email protected]

202-324-4233 Debbie OBrien

Wachovia Mortgage, FSB Senior Vice President, Manager Fraud Investigations and Repurchase Risk Mgmt [email protected] 919-852-6783

Katie Paolangeli

MERSCorp Business Integration Director [email protected] 703-761-1279
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]

leveraging mers data to fight fraud?

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