Kim Lanham featured in HousingWire.comMarch 23, 2021
Kim Lanham, SVP at Mphasis Digital Risk was featured in the HousingWire.com article titled “Stepping up the fight against fraud in mortgage lending” discussing the instances of attempted fraud in the mortgage industry and how to combat it with fintech.
The cost of fraud has risen 7.3% across U.S. retailers and e-commerce merchants, and every $1 of fraud now costs $3.36, up from $3.13 in 2019. One emerging form of fraud plaguing our industry is with the labor used to generate the loans, i.e. the underwriters with hidden agendas. Lenders need to refine the recruiting and hiring process to include additional “scrubs” on candidates. Fintech innovation is helping lead the way with methods to detect inconsistencies in the due diligence process, with Data-driven analysis flagging questions that lenders should be asking.
Read the full article here.