AllRegs, an Eagan, Minn.-headquartered online publisher of reference information for the residential mortgage lending industry, has teamed up with the American Association of Motor Vehicle Administrators to offer fraudulent document recognition training to the mortgage lending industry.
‘This is the only designation of its kind offered in the industry,’ notes Dan Thoms, senior vice president at AllRegs. ‘With the fraudulent document recognition course, attendees are trained to spot fraud in seven seconds, and that is an industry first.
‘With all the market mayhem in the industry, we can now begin looking more clearly at the issue and take the necessary steps needed to bring momentum back to the industry,’ he continues.
According to the company, after completing the course, participants should be able to recognize security features and unique identifiers on identity documents, including passports, drivers' licenses, Social Security cards and birth certificates; locate and verify covert security features on identification documents, including metricular cards and I-94s; detect fraudulent mortgage documents, such as a fraudulent 1003 loan application; and identify 10 red flags on the 1003 loan application.