Data Consortium

Benefit from Data Covering More Than 120 Million Loan Applications
Consortium members benefit from data on more than 120 million lending applications representing more than 55 million unique applicants and growing across auto, mortgage and personal lending. For each application, the consortium has data including:
  • Over 12.6 Billion unique data points
  • Over $4.5 Billion in Early Defaults
  • Over $1 Billion in Confirmed Fraud
  • Over 100 million unique income reports
  • Over 17 Million Unique Employers Across the US
  • Close to 7,000 Fake employers
  • Over 100,000 Car Dealerships
  • Home phones, Cell Phones, Employer Phones
  • Address and Location Data
  • Risky social security numbers (SSNs)
  • SSNs linked to default or prior fraud
  • VINs and Collateral linked to default or prior auto loan fraud
This powerful data is used to build artificial intelligence (AI)-powered scoring models that help lenders automate the lending process – increasing loan pull-through, reducing origination cost, and improving the borrower experience – and reduce fraud and early payment default (EPD) risk

10 Ways The Consortium Helps You Identify Fraud

Identify Fraud Risk of Potentially Fake Employer Information
Fraud risk is present if the borrower or dealer uses a fictitious employer that has been detected at other lenders. Point Predictive identifies 100 new fake employers a week and has collected close to 7,000 fake employers on over $1.5 billion in application activity.

Fraud Risk is Present If Your Borrower Recently Reported As Self-Employed But Switched
Find out if the borrower reported to be self-employed in the last 30 days, but now they report as a wage earner. In 2020, we discovered that 43% of borrowers claiming to be self-employed had a subsequent application reporting to now be a wage earner.

Identify Straw Borrowers
Find out if the borrower is likely purchasing the vehicle for someone else. We can identify recent applications for the same borrower which may have had a previous co-borrower removed.

Identify If The Vehicle Price Increased Dramatically Recently
Find out if the vehicle being purchased is priced accordingly. Or if the dealer is attempting to “powerbook” the loan. Price inflation can present significant risk to the relationship between the lender and the dealership. For instance in 2020, we saw roughly 20% of applications where the vehicle was priced at least $1,000 higher than advertised.

Identify If Other Lenders Find The Dealer Risky
Find out if other lenders recently terminated the dealership. Or if they have high rates of fraud and default. The power of our consortium can identify dealership risk across lenders. As a result, you don’t have to fight fraud alone.

Identify If The Vehicle Make and Model Is Targeted by Fraudsters
Vehicle makes and models come with differing levels of risk. Whether reliability, cost to own, or popular among fraudsters. Gain an understanding of collateral risk patterns and fraud-ring risk.

Spot Borrowers Who Recently Changed Their Income Significantly
Ever wondered if an applicant inflated their income on an application?  If a customer doesn’t qualify for the loan they want, they may try again with some adjusted numbers.  Point Predictive collects and tracks discrepancies in application values across lenders to prevent income misrepresentation. A 2019 study in Canada by Equifax showed that 19% of surveyed millennials had not been entirely truthful on a credit or loan application.

Identify Borrowers Who Changed Their Employer Recently
Similar to income discrepancies, applicants may choose to show a different employer.  This commonly occurs for self-employed borrowers who may find better luck listing the company name rather than self-employed when applying for loans.

Identify Potential Credit Washers
Coached by credit repair schemes, some borrowers will either create synthetic identities by using alternative identifiers or wash their credit.  Only Point Predictive offers a credit washing detection capability. By looking for sudden swings in credit scores with a sudden drop in negative tradelines over a short time period.

Leverage 12.6 Billion Unique Data Points Not Available On Bureau or Public Record Source

Point Predictive’s consortium leverages a unique approach in its method of collection as well as the data points aggregated across lenders.  As a result, the information is highly effective and predictive alone. As well as greatly complementing existing tools and data sets in lenders’ arsenals against fraud and loss