Jacksonville, Fla.-based Fidelity National Information Services Inc. (FIS) has introduced Transaction PRO, an automated risk analysis and fraud prevention tool for mortgage loan transactions.
Transaction PRO, developed by FIS' valuation solutions division, combines speed, state-of-the-art technology and one of the largest, most accurate property databases in the business, the company says. The tool leverages FIS' data resources to identify risk in 12 categories associated with three risk indicators: borrower risk, mortgage transaction participant quality and property collateral valuation. It also enables clients to set risk tolerances and automate follow-up due diligence in accordance with the risk indicators.
"Due to the complexity of the mortgage transaction, there is a need for an encompassing solution that can identify risk at the borrower, participant and collateral levels of the transaction," says Jon Davis, president of FIS' valuation solutions division. "We have developed a cost-effective solution for the origination, secondary and servicing markets, protecting lenders and investors each step of the way."