Bust Out Fraud Detection & Prevention

A patent-pending solution developed to help identify and stop one of the lending industry’s biggest problems - Bust Out Auto Loan Fraud. Bust Out Fraud exploits the timing gap that currently exists in the Credit Scoring and Reporting Process at the point of sale. The estimated $1 billion in annual losses for the auto lending industry is likely severely underreported. No one in the industry currently knows exactly how many transactions are related to Bust Out Fraud rings, but they are unanimous in the expectation that the size of the fraud will continue to grow if left unchecked.

Developed by Steve Schroeder

co-founder of CoreLogic

Inventor of Multiple Technologies Used by Lending Industry Today:

• AVM Cascade Technology Collateral Score Fraud Detection
• Mortgage Broker Fraud Scorecard
• HELOC “Shotgun” Fraud Prevention
• LoanSafe Blended Borrower-Collateral fraud detection

• Timely prevention of the fraud
• Alerting to possible events
• Collaborative detection process and pattern recognition