As FBI Decries Fraud, Tech Providers Propose Solutions
October 22, 2004
LexisNexis and AppIntelligence are two of the companies that have recently offered new automated anti-fraud solutions. Both companies believe the market for such systems may spike as the federal government ramps up its effort to get the mortgage industry to police itself. Chris Swecker, assistant director of the FBI’s Criminal Investigative Division, told a congressional committee recently that a mandatory reporting system is needed to combat fraud in mortgage lending.