Patents Assigned to First American CoreLogic, Inc.
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Publication number: 20110173116Abstract: Embodiments include systems and methods of detecting and assessing multiple types of risks related to mortgage lending. One embodiment includes a system and method of detecting and assessing risks including fraud risks, early payment default risks, and risks related to fraudulently stated income on loan applications. One embodiment includes a computerized method that includes creating a combined risk detection model based on a plurality of risk detection models and using the combined risk detection model to evaluate loan application data and generate a combined risk score that takes into account interaction of different types of risks individually and collectively detected by the plurality of risk detection models.Type: ApplicationFiled: January 13, 2010Publication date: July 14, 2011Applicant: FIRST AMERICAN CORELOGIC, INC.Inventors: Rui Yan, Hoi-Ming Chi, Seongjoon Koo, James Baker
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Publication number: 20100223169Abstract: A system and method for retrieving a transaction associated with a property including obtaining property information pertaining to a property fl-om a third party source, storing the property information in a database, receiving a name to monitor or an address of a property to monitor, and transmitting a property information request including the name and/or address to the database. The system and method may also include searching the property information for a match with the name or address, identifying a transaction associated with the matched name or address and transmitting the transaction to a device.Type: ApplicationFiled: May 14, 2010Publication date: September 2, 2010Applicant: First American CoreLogic, Inc.Inventor: Dianna Lee SERIO
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Patent number: 7747520Abstract: A computer-based method of monitoring for and reporting of a lien distress event relatable to a property within a client loan portfolio includes inputting property data from the portfolio, standardizing the data for querying a lien distress event database, monitoring the database for lien distress events relatable to the standardized property data, and notifying the client if a lien distress event is detected. The monitoring period and the type of lien distress events to be monitored may be specified by the client. Notifying the client may include generating and delivering a lien distress report including a property valuation. The method may be executed automatically as a service periodically updating and monitoring a loan portfolio of a subscribing client.Type: GrantFiled: August 4, 2006Date of Patent: June 29, 2010Assignee: First American CoreLogic, Inc.Inventors: George S. Livermore, Dianna L. Serio, Charles E. Crawford, Jr., Reid Lange, Michelle Pinnix
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Patent number: 7747521Abstract: A system and method for retrieving a transaction associated with a property including obtaining property information pertaining to a property from a third party source, storing the property information in a database, receiving a name to monitor or an address of a property to monitor, and transmitting a property information request including the name and/or address to the database. The system and method may also include searching the property information for a match with the name or address, identifying a transaction associated with the matched name or address and transmitting the transaction to a device.Type: GrantFiled: February 21, 2007Date of Patent: June 29, 2010Assignee: First American Corelogic, Inc.Inventor: Dianna Lee Serio
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Publication number: 20100161498Abstract: A real estate market trend apparatus, computer program product and method obtains property data for each available property within a geographic area; sends the data to an AVM to calculate the valuation for each real property within the geographic area; saves the estimated valuations in memory; develops a time-consistent set of valuations for each property; provides a valuation for each of the available properties within the geographic area; and computes an indicator which provides a trend analysis of the real estate property market for the geographic area.Type: ApplicationFiled: December 14, 2009Publication date: June 24, 2010Applicant: First American CoreLogic, Inc.Inventors: Robert WALKER, Benjamin GRABOSKE
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Publication number: 20100088242Abstract: A method of detection of fraud in a mortgage application: in a computer system, maintaining a database of sales prices of real properties in a geographic area where the property is located; obtaining a valuation history for the property; obtaining historical sales data for similar properties in the geographic area; computing price ratios using these valuation histories; computing a distortion index based on the price ratios, the distortion index indicating the likelihood of a fraudulent valuation.Type: ApplicationFiled: October 5, 2009Publication date: April 8, 2010Applicant: FIRST AMERICAN CORELOGIC, INC.Inventor: Christopher L. Cagan
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Patent number: 7599882Abstract: A method of detection of fraud in a mortgage application: in a computer system, maintaining a database of sales prices of real properties in a geographic area where the property is located; obtaining a valuation history for the property; obtaining historical sales data for similar properties in the geographic area; computing price ratios using these valuation histories; computing a distortion index based on the price ratios, the distortion index indicating the likelihood of a fraudulent valuation.Type: GrantFiled: November 14, 2003Date of Patent: October 6, 2009Assignee: First American CoreLogic, Inc.Inventor: Christopher L. Cagan
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Publication number: 20080004893Abstract: A computer-based method for validating an appraisal report includes receiving appraisal data for a property, receiving property data for the property, verifying the appraisal data meets an appraisal guideline, providing a list of appraisal items that are present in the appraisal data, providing a medium discrepancy amount and a high discrepancy amount for the list of appraisal items, calculating a difference amount between the appraisal data and the property data for each appraisal item, and comparing the difference amount to the medium discrepancy amount and the high discrepancy amount.Type: ApplicationFiled: June 29, 2007Publication date: January 3, 2008Applicant: First American CoreLogic, Inc.Inventor: Benjamin C. Graboske