INDUSTRY RESOURCES - Warehouse Information Networksm

An industry first, Warehouse Information Networksm (WIN) is a groundbreaking independent, membership-based collaborative providing automated inter-warehouse fraud detection technology, a warehouse lender knowledge resource center, and other services specific to improving and promoting the mortgage warehouse lending indiustry.

• Provides centralized information services which specifically reduce mortgage warehouse risk
• Promotes education on ways to increase your warehouse operational efficiencies
• Serves as a forum for the exchange of ideas on issues related to mortgage warehouse lending
• Documents warehouse lending standards and practices
• Creates a vehicle to communicate as a collective group with other industries (title companies, e-mortgage suppliers, etc) which have impact on the business of warehouse lending

“The warehouse lending community, through WIN membership, will now have access to specific tools which reduce common warehouse lending risk points as well as participation in this broad-based initiative to position and support its members for long-term growth in a changing marketplace. The convergence of volatile business conditions, anticipated regulatory involvement, and emerging e-Mortgage adoption will result in new business opportunities for those that adapt and significant challenges for warehouse lenders that don’t.”
Stanley M. Street, President

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Warehouse Loan Registry – The Warehouse Loan Registry Alert (LRA) service will be the first automated, real-time risk mitigation service specifically designed for the detection of inter-warehouse fraud.

Historically, there have been no electronic methods available for a mortgage warehouse lender to investigate previous or existing warehouse funding activity on a property or borrower. As warehouse funding requests are processed, the LRA validation uses intelligent matching logic (e.g., eliminating affiliate warehouse relationships, variable street naming conventions, etc.) to compare the property address and borrower identity against WIN’s independent, centralized, secure database containing data from other participating warehouse lenders. A match could indicate sequential or simultaneous warehousing, flipping, straw buyer rings or other possible fraudulent activity.

Whether revealing potential individual borrower fraud or corporate collusion, the Warehouse Loan Registry Alert is a powerful new tool for WIN members to use as part of their overall fraud mitigation strategy. LRA is integrated into SRG’s industry-leading Warehouse Loan System to provide seamless real-time submission and immediate validation of funding requests for SRG clients. Similar value is available to warehouse lenders with proprietary software through efficient and secure LRA web services..

Warehouse Closing Agent Registry – With its information database sharing capabilities, WIN is also positioned to create a Closing Agent Registry Alert service using a centralized portal which provides automated validation for problem agents, suspended or closed title company agencies, and verifies risk-relevant closing agent information. SRG is currently coordinating the collaborative design, development, and deployment of this critically important utility.

Knowledge Resource Center – WIN’s web-based knowledge resource center will utilize managed online forums, rather than blogs, to facilitate discussion on warehouse industry issues. Access to the information presented on the website will be available for the mortgage industry at large or may be restricted to members only.

““When researching mortgage warehouse lending subject matter, navigating irrelevant search engine results and browsing unproductive websites can be frustrating. Being able to access organized information from a single website will enhance our user’s experience and significantly increase their efficiency.”
Jim Bierma, Director of Marketing and Sales

In addition to the online discussion forums, SRG will continue to present a series of web-based seminars and host invitation-only events for warehouse managers and mortgage industry professionals as part of its Warehouse Information Network initiative. WIN will also be conducting and sharing the results of industry surveys specific to mortgage warehouse lenders.

Request more information on WIN here.