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Automated License Checks Made Easy By Anthony Garritano As brokers and lenders scramble to close more loans ensuring that proper licensing is in place becomes more critical. The latest to automate broker and lender licensing is Chesterfield, Mo.-based DataVerify. DataVerify is a provider of fraud prevention and decision management solutions for the mortgage industry. The company has released what it is calling Third Party Verify, an innovative database product that automates the process of mortgage broker and correspondent lender license verifications. The Third Party Verify database continuously updates information from all regulatory sources that license mortgage originators in the nation to deliver customers an accurate and easy to use platform for mortgage license verifications. "The key to our system is the advanced sourcing technology that applies real time updates to our license repository from state regulatory sources. The end result is that we have the very latest nationwide licensing information available on a single platform," said Mike Moseler, CIO of DataVerify. "In an environment in which all mortgage lenders are seeking new ways to streamline arduous manual or semi-automatic verification processes, such as critical third party license verifications, DataVerify's Third Party Verify product actively monitors the license status and automatically alerts clients the instant that any licensing status changes," added Steven Halper, CEO of DataVerify. "Third party license validation has been a unique feature of our DRIVE loan level mortgage fraud detection system and this new global license verification system meets the broader additional needs of our customers for real time license verification and monitoring," he concluded. DataVerify Corp. is a provider of fraud prevention and decision management solutions for the mortgage industry. DataVerify's executive team includes the former AppIntelligence founder and CEO Steve Halper plus CIO Michael Moseler who, at DataVerify, have developed a new platform that leverages the latest .NET technology to deliver superior anti-fraud products powered with more robust exterior database sources, predictive analytics and an array of new and advanced features. These new technological advancements allow lenders to predict fraud and mitigate loss with unprecedented accuracy while increasing workflow efficiency and reducing loan approval timeframes at the point-of-sale.

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