Data Verify adds MERS solution to detect undisclosed mortgages.

Position:Tech Newz - Mortgage Electronic Registration Systems Inc. - Brief article
 
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Data Verify Inc., Chesterfield, Missouri, announced it has created the first electronic integration with Reston, Virginia-based Mortgage Electronic Registration Systems Inc. (MERS (R)) within its Data Risk Intelligent Verification Engine (DRIVE (TM)) anti-fraud platform to assist mortgage lenders in reducing loan losses by detecting and identifying the deceptive practice of undisclosed mortgage transactions within a specified window of time.

Combined with DRIVE's unique undisclosed debt alerts, DRlVE's automatic MERS trigger creates an additional "touchless" verification process to assist in significantly reducing the risk associated with undisclosed debt, according to Steve Halper, president of DataVerify.

"The MERS System has become an essential due-diligence step in the mortgage industry's war on fraud," said Halper. "As MERS continues its mission to reduce paper in the home-buying process, DataVerify is proud to be the first automated fraud-prevention vendor to link our...

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