The ADV-120 report is a smart way to understand your borrowers and identify fraud situations.
The ADV Report is a single comprehensive report identifying fraud risk factors within the mortgage loan application. We parse the loan file and verify key loan data–and return a single concise report highlighting discrepancies between the loan application data and the public records. The report covers key verification elements required by secondary market investors, including Fannie Mae Loan Quality Initiative.
The fraud detection service accesses literally billions of public records to instantly verify: borrower, property, employer company data, and watch lists. The 1003 data is verified against: credit header file data, utility invoice data, single family residential property data, USPS data, corporate & sole proprietor data, reverse phone and reverse address data, and demographic and industry sources.
It’s a comprehensive risk report that will make you confident in your loan decisions.