Detect fraudulent borrowers with AI

Loan fraud occurs when someone provides false information or conceals facts to obtain a loan they would not otherwise qualify for. This can include identity theft, falsifying income or employment details, or misrepresenting the purpose of the loan.

Lending fraud leads to reputation damage and financial losses for lenders. That is why modern and forward-looking lenders use Resistant AI to automatically detect fraud during their loan and mortgage underwriting process. 

An automated underwriting system is a software that evaluates loan, mortgage or other lending applications using algorithms and data analysis to assess risk and eligibility automatically. It streamlines decision-making by analyzing factors like identity, credit history, income, and other criteria, reducing the need for manual review and speeding up the approval process.

Adding Resistant AI as a fraud detection layer to your automation is essential though, because if you're automating your document intake without fraud prevention, you're automating fraud.

Resistant AI is transforming the mortgage industry by improving efficiency, accuracy, and customer experience. 

• Document Fraud Detection: Resistant AI analyzes all documents used in mortgage applications, in all languages, and in PDF or image formats. It verifies if the documents provided are authentic and if they haven't been modified.
• Behavioral Analysis: Resistant AI analyzes patterns in loan applications and transactions to identify anomalies or potential fraud.
• Automated Underwriting: Lenders use Resistant AI to evaluate borrower risk using real-time data, streamlining credit decisions, decreasing screening cost, and ensuring consistency and confidence in decisions.
• Document Processing: Lenders automate the verification of loan documents, spotting fraud that is invisible to the human eye, and reducing manual errors.
• Compliance and Risk Management: Resistant AI helps banks and other lenders ensure regulatory compliance by monitoring and flagging potential issues in real-time, minimizing legal and financial risks.

To spot fraudulent mortgage applicants with Resistant AI, digital lenders first verify the identity of the customer as part of the KYC or KYB process, spotting forged or altered documents, detecting face spoofing, and finding suspicious behavioral patterns. They usually check: 

• IDs
• Utility bills
• Bank statements
• Selfies
• Certificates of incorporation
• Business licenses
• Suspicious transactions

Once the borrower submits an application for a loan, the lender verifies their creditworthiness and financial health, usually checking:

• Pay stubs
• Bank statements
• Tax forms or tax returns
• W-2 Forms
• Invoices
• Contracts

With Resistant AI, they can automate their fraud detection capabilities, streamline their processes, lower their operating costs, and ultimately detect more fraud, faster.

Avoiding mortgage fraud requires vigilance, due diligence, and adherence to best practices. Resistant AI helps you streamline the whole process, lower underwriting costs, and spot more fraud, faster. 

• Verify Documentation: Scrutinize all submitted documents, including income statements, tax returns, and identification, for inconsistencies or alterations.
• Use Automation: Employ our AI-driven fraud detection systems to identify red flags, such as fake documents or suspicious patterns.
• Perform Background Checks: Conduct thorough checks on borrowers, appraisers, and third-party agents involved in the transaction.
• Monitor Transactions: Implement strict monitoring protocols to detect unusual behavior, such as frequent address changes or suspicious transactions patterns.

The best mortgage loan origination software uses a leading fraud detection system like Resistant AI, with great scalability, integration capabilities, and user experience. Resistant AI sits on top of your existing automated underwriting system, and you don't have to change your processes, making it a very easy solution to implement.

Resistant AI is document agnostic. That means it works with any document loan underwriters use, from anywhere—even those we've never seen before. That includes tax forms and other tax documents, bank statements, pay stubs, account statements, IDs, passports, invoices, and more.

Resistant AI works with all PDF and image formats. Different formats have different risk profiles, and we can help you set up a policy that matches your risk appetite. 

Resistant AI analyzes documents in any language. In fact, we don't read the content of the documents to catch fraud—we analyze the whole context of how the document is made instead. Simply put, we look at how the words are written, not what they say. 

By analyzing millions of documents every month, we've found that 1 in 5 documents used in digital loan applications show signs of tampering, and up to 2% of documents are based on reused or generated documents indicative of crowd-sourced first party fraud or organized crime rings.

Yes, you can analyze any and all documents necessary for the lending underwriting process: From tax forms and other tax documents, to bank statements, pay stubs, account statements, IDs, passports, invoices, and more.

It takes less than 20 seconds on average for you to get your verdict when analyzing a document for fraud with Resistant AI.

We don't believe in risk scores: What do you do with a 68% vs an 82% document risk score?

Instead, Resistant AI gives you clear actionable verdicts:

You can either use Resistant AI manually by dropping documents in our web interface, or use our API integration to automate fraud detection at scale.