Wednesday, March 18, 2009
Technology must be employed to stop rising incidents of mortgage fraud, according to experts here. Third party verifications, especially when they employ technological automation, are superior in most cases to manual verification of documents. First, employees have not been trained to spot forgeries. Secondly, technology for the verification of employment and income are now inexpensive and provide a high return on investment. Thirdly, technology will always provide the same workflow, whereas manual workflows vary by department, training level and oversight. Human resources are better utilized investigating red flags that technology returns. More to follow…
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