Method for mortgage fraud detection

Details Method for mortgage fraud detection Method for mortgage fraud detection

2003-11-14

2009-10-06

Kalinowski, Alexander (Department: 3696)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S001100

Reexamination Certificate

active

07599882

ABSTRACT:
A method of detection of fraud in a mortgage application: in a computer system, maintaining a database of sales prices of real properties in a geographic area where the property is located; obtaining a valuation history for the property; obtaining historical sales data for similar properties in the geographic area; computing price ratios using these valuation histories; computing a distortion index based on the price ratios, the distortion index indicating the likelihood of a fraudulent valuation.

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