BasePoint Analytics, a Carlsbad, Calif.-headquartered provider of scientific fraud analytics and consulting services, says that CrossCheck Compliance has selected BasePoint's FraudMark solution as a core component in its new approach to due diligence for loan and portfolio purchases.
CrossCheck, along with BasePoint, has completely re-engineered this process – starting with advanced pattern recognition analytics to correctly assess risk of individual loans and portfolio segments, creating loan sample sets that exhibit the highest risk of loss due to fraud, compliance and credit, according to the companies. These target-rich sample sets with tracked metrics will be used for smart, dynamic and – in some cases – forensic review processes based on the outcomes of the analytic technology applied on the front end with pattern recognition analytics such as the FraudMark score.
CrossCheck clients will be able to see precise targeting with sampling, including FraudMark's industry-leading low false positives, as well as conclusive results from comprehensive review processes from highly trained review analysts using forensic loan review methods.