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The fully integrated monitoring solution leverages FraudGuard smart analytics and scoring to help underwriters and processors identify consumers with loans in forbearance


SANTA ANA, Calif., Sept. 22, 2020 – First American Mortgage Solutions, LLC, a part of the First American family of companies and leading provider of lender and servicer solutions that cover the entire loan spectrum, today announced the launch of a new monitoring solution, Mortgage Forbearance Indicator (MFI). The MFI is a module available through FraudGuard®, First American Mortgage Solutions’ data-driven decision-support tool with over 20 unique modules and integrated solutions that helps lenders comply with regulations, improve the speed and efficiency of underwriting reviews, and increase loan quality while mitigating against potential risk.

Lenders incur costs and lose time to verify and re-verify whether a borrower is engaged in forbearance activity. MFI monitors a consumer’s credit from application to closing to identify mortgage forbearance and alerts the processor and underwriter when new activity is found. Through FraudGuard, the MFI is fully compatible with, and an embedded service within, all major Loan Origination Systems (LOS). This integration and automation streamline the process to quickly uncover undisclosed forbearance requests, shortening underwriting timelines and helping lenders avoid potential agency fees or unsaleable loans.

“In this fluid environment, agency guidelines and lender overlays are everchanging and our industry experts help lenders respond and stay up-to-date with customized, targeted FraudGuard alerts,” said Paul W. Harris, head of First American’s mortgage analytics business. “Not only is our newest forbearance module flexible, configurable and scalable to unique business needs, but with FraudGuard as a whole, users experience concierge service from industry expert account managers who advise and provide support for full confidence against risk.”

While alternative solutions only offer a batch file request outside of the processor’s LOS, or limit order options to a one-time look up or credit refresh, the FraudGuard MFI provides integrated ordering by document type or business channel and continual monitoring, which allows better control of third-party data expenses.

“The Mortgage Forbearance Indicator reflects the commitment of our skilled team of experts to continually build solutions to meet the evolving business needs of our clients and the marketplace,” said Kevin Wall, president of First American Mortgage Solutions. “FraudGuard continues to stand-out among loan quality management tools.”

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