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AUGORA HILLS, CA-Shotgunning, a simultaneous closing scheme that occurs when a borrower takes out multiple loans on the same property, can go undetected when lenders are unable to quickly search for loans associated with the borrower or subject property.
As a means of helping protect lenders from shutgunning, an Agoura Hills, Calif.-based provider of proven risk mitigation, mortgage fraud prevention and regulatory compliance tools for the mortgage industry has added a Reston, Va.-based electronic loan registry's transaction data to its flagship service.
Interthinx has integrated Mortgage Electronic Registration Systems data into its FraudGUARD scoring system to detect undisclosed properties, reveal investors claiming owner occupancy...