Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced the launch of ICE Fraud Monitor, a robust mortgage fraud and property research solution designed to help lenders reduce risk and expedite underwriting.
Integrated directly with Encompass®, ICE’s loan origination system (LOS), Fraud Monitor centralizes fraud risk scoring and property risk data in a user-friendly dashboard, reducing the need for underwriters to navigate between multiple vendor portals. Underwriters can click on fraud categories to view underlying data sources and supporting reports, making it easier to investigate potential issues. The solution’s configurable, exception-based automation can clear conditions and update Encompass, helping to streamline the review process.
“Fraud reviews are often fragmented and highly manual, creating bottlenecks in the underwriting process and contributing to condition fatigue among lenders,” said Bob Hart, President of Mortgage Technology at ICE. “Fraud Monitor helps simplify that process by bringing fraud detection, condition management and supporting documentation into a unified workflow within Encompass. By automating portions of the review process and giving underwriters faster access to detailed reports, they can identify and resolve potential fraud risks more efficiently while keeping loans moving through the pipeline.”
Fraud Monitor incorporates configurable risk scoring and ongoing monitoring capabilities that allow lenders to tailor workflows based on their internal risk management and compliance policies. The solution integrates data from ICE SiteXPro property records, credit and employment validation sources, exclusionary lists and watchlists, and other third-party fraud and verification tools to provide lenders with a more comprehensive view of potential risk indicators. The solution also maintains a full audit trail with automated recordkeeping, user-level permissions, time-stamped condition clearances and compliance-ready reporting.
To learn more about Fraud Monitor, visit: https://mortgagetech.ice.com/products/fraud-monitor.
