C&S Marketing's LoanSafe Selected By Genworth Financial To Create New Underwriting Solution; New SecureFirst Application Blends Improved Underwriting and Fraud Detection.ORLANDO, Fla. & SACRAMENTO, Calif. -- C&S Marketing, a leading provider of property valuation, collateral assessment, and fraud prevention services for the mortgage lending industry, today announced that Genworth Financial Genworth Financial is an international financial services organization that offers a portfolio of primarily consumer-focused products through its various companies, including annuities, combination products, investment services, life insurance, long term care insurance, medicare has packaged C&S' LoanSafe(TM) system with Genworth's AU Central and Doc Central to create a new technology-based underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. solution called SecureFirst(sm). The announcement was made at the MBA's 2005 National Technology in Mortgage Banking Conference & Expo in Orlando. SecureFirst provides lenders and investors with a more seamless underwriting process, while reducing incidences of mortgage fraud by detecting situations when loans are locked for underwriting and require additional investigation. Fraud reports are customized by lender or investor needs, and delivered electronically through the AU Central results page and/or the Doc Central folder In a graphical user interface (GUI), a simulated file folder that holds data, applications and other folders. Folders were introduced on the Xerox Star, then popularized on the Macintosh and later adapted to Windows and Unix. In Unix and Linux, as well as DOS and Windows 3. . "This partnership with Genworth Financial - a leading global mortgage insurer -represents the forefront of blending fraud detection solutions with loan underwriting," said Steve Schroeder Steven A. Schroeder is Distinguished Professor of Health and Health Care at the University of California, San Francisco (UCSF). He served as the President and CEO of the Robert Wood Johnson Foundation from 1990 to 2002. Dr. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of C&S Marketing. "These tools have had a positive effect in the operations of mortgage lenders, while minimizing risk." Each individual lender or investor determines the parameters for ordering a fraud report through SecureFirst. Reports are based on requirements supplied by the lender. Benefits include processing fraud reports before the loan is underwritten, custom reporting results based on combined borrower, property and industry standard origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real party scoring, a summary page providing a snapshot (1) A saved copy of memory including the contents of all memory bytes, hardware registers and status indicators. It is periodically taken in order to restore the system in the event of failure. (2) A saved copy of a file before it is updated. of each loan and private reports that are only available to individuals approved by the user. SecureFirst can easily be added to AU Central or Doc Central, adding efficiency and safety to the loan underwriting process eliminating double-data entry, and report results flow automatically into Doc Central. C&S Marketing's LoanSafe system (comprised of HistoryPro(TM), IdentityPro(TM) and Third Party ScoreCard products) delivers a comprehensive analysis of the three common elements that expose a lender to fraud: collateral, borrower, and origination agent. The solution quickly examines a loan's potential fraud risk by analyzing property and relationship details between borrowers, brokers, appraisers, specific market regions, and other known interactions that are effective in detecting and preventing fraud and misrepresentation misrepresentation In law, any false or misleading expression of fact, usually with the intent to deceive or defraud. It most commonly occurs in insurance and real-estate contracts. False advertising may also constitute misrepresentation. . About Genworth Financial Genworth (NYSE NYSE See: New York Stock Exchange : GNW GNW Genworth Financial (stock symbol) GNW Good News Week (TV show) GNW Great Northwest GNW Great Northern War (1700-1721) GNW Guns 'n' Wankers (band) ) is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 20 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit www.genworth.com. About C&S Marketing Sacramento, Calif.-based C&S Marketing is the leading provider of collateral risk assessment and fraud prevention solutions to the mortgage lending industry. Since 1997, the mortgage industry has relied on C&S Marketing's knowledge and information tools to provide quality control, appraisal review and underwriting decision and process support. The C&S Marketing family of property information tools provide the data, comprehensive geographic coverage, ease-of-use and accessibility lenders need. For more information about C&S Marketing, visit www.csmarketing.com. |
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