Washington, D.C.-based Lender Technologies Corp. (LTC)-a subsidiary of the Mortgage Bankers Association (MBA)-is now focusing on the need for the potential creation of a national database that will help the mortgage community detect fraud within individual loan portfolios.

LTC is now circulating a request for proposal about the possibility of creating a database to vendors in an effort to seek comments on the proposed database and to elicit feedback.
The project that LTC is exploring is a database that would have the technological ability to spot fraud and provide the mortgage lending and servicing communities with an early warning system, the MBA says.
“Fraud against mortgage lenders is a growing problem, one that affects all lenders and consumers,” said Kieran Quinn, chairman of the MBA. “We are eager to explore new technologies to help track fraud and share information that will allow lenders to better protect themselves, as well as consumers, taxpayers, and communities, from the costs of mortgage fraud and that is why we are lending our support to efforts to develop a national fraud prevention database.”