- Track bad actors and questionable loans across the industry
- Provide and receive reports on fraudulent activity
- Maintain complete privacy and security
- Use MERS gateway
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MERSCORP, Inc. (MERS) & Interthinx have together, created MERS® FraudALERT, a national fraud prevention database with an open platform that functions as a powerful industry utility. Finally, ALL players in the mortgage industry can easily collaborate to locate, identify and track bad actors and questionable loans while maintaining complete privacy. MERS® FraudALERT combines MERS's infrastructure and industry wide integration with the proven fraud detection capabilities of Interthinx. Lenders who register their loans on the MERS® System will have immediate access to the first industry-wide database of fraud-related information through the new product, making any fraud screening technology more effective. "While the industry currently has access to excellent loan-level fraud detection technology, lenders still face unacceptable risk. Fraudsters circumvent those tools by perpetrating multiple instances of fraud concurrently because no one is speaking to each other," said R.K. Arnold, MERS President and CEO. "Our goal from the beginning has been to eradicate mortgage fraud, and we have developed the industry's best tools to accomplish that. But our technologies are most effective when they have access to more data," said Kevin Coop, president of Interthinx. 
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MERS® FraudALERT is an industry utility - It has built-in flexibility so that, for the first time, all players in the mortgage industry (originators, investors, servicers, government agencies,
non-profit organizations, technology vendors, etc.) can easily integrate into the system and share data. It also has an adaptable platform to accommodate the integration of third party analytic vendors, making it a collaborative tool in every way. Future enhancements will be developed in conjunction with subscriber and vendor involvement.
Incident Reports – Subscribers can submit Incidents Reports. Incident Reports include not only confirmed fraudulent activity, but suspicious activity as well.
The MIN and the MERS® System – By leveraging the 32 million active loan records with a Mortgage Identification Number as its unique ID, and the MERS® System for tracking
ownership and rights holders, MERS® FraudALERT can identify inconsistencies on duplicate loan applications and tracks any change of the rights holder throughout the life of a loan. As loans change hands, the current and future rights holders of a loan are notified when suspicious activity occurs.
Monitoring Platform – The MERS® FraudALERT monitoring platform automatically pushes alerts to customers twice daily, notifying lenders, servicers and investors of potential risk
associated with loans in their inventories. Using the MERS® System, MERS® FraudALERT tracks all rights holders associated with a loan transaction and pushes notification alerts to them without requiring downstream players to resubmit data. Downstream players (investors, servicers) are notified of potential fraud even if they did not submit the original loan transaction.
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Pilot phase
General Availability For more information on MERS® FraudALERT, contact us at mersfraudalert@mersinc.org 
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