How LYNK Capital supercharged their fraud detections
Private mortgage lender LYNK Capital slashed their fraud detection time from days to minutes, enhancing security, operational efficiency, and loan buyer confidence.
THE CLIENT
LYNK Capital: the cleanest files from the sharpest underwriters
LYNK Capital is an American private mortgage lender specializing in providing loans to real estate investors, including renovation loans, construction loans, and rental loans for non-owner-occupied properties.
Operating in 32 states, LYNK Capital focuses heavily on the Eastern Seaboard, and has built a reputation among experienced real estate investors for its meticulously clean files thanks to the sharp eyes of its underwriting and loan processing teams.
“We’re known as the Fraud Stoppers internally,” said Sarah Smith, LYNK Capital Operations Manager, whose responsibilities include oversight of the organization's fraud controls.
THE CHALLENGE
Brazen document fraud on the rise
But with expanding operations, the complexity and volume of documentation increased and brought with it a significant challenge: detecting fraudulent documents efficiently. And as fraudsters became more sophisticated, relying on manual reviews proved inadequate.
With frauds harder to detect visually, instinct kicks in—and a well-trained underwriter’s instinct will usually be right. “We like to think that we are pretty good at detecting when people edit the documents,” said Operations Manager Sarah Smith who oversees underwriting.
But suspicion alone is not enough, and being wrong could severely damage long-term relationships with potential borrowers who might end up going to the competition.
And in those cases, getting alignment internally on the decision could take time. “Typically, it could take a couple of days to come to a decision, getting everyone from the loan officer to management onboard,” said Smith.
It was clear they needed a more efficient solution to maintain their high standards and protect against fraud.
OUR SOLUTION
Giving the Fraud Stoppers a new weapon
LYNK Capital turned to Resistant AI's Document Forensics to enhance their fraud detection capabilities, and it transformed their operations.
The efficiency gains were significant, with the detection and resolution of fraudulent activities reduced to minutes. Smith noted, “We’re able to make confident decisions in seconds, rather than days.” This speed was crucial in maintaining their operational flow and ensuring timely processing of loans.
The AI system also provided the team with concrete proof of document alterations, which was crucial for convincing other stakeholders within the organization, but also fortified their confidence in identifying and addressing fraud.
The implementation of Resistant AI also strengthened LYNK Capital's relationship with their loan buyers.
CEO Dee Toal-Brothers explained, "Letting our loan buyers know that they're not just trusting the intelligence of the humans that we have here, but that we also have an additional net to catch fraud gives them a higher level of confidence in the loans that they're purchasing from us."
The combination of enhanced security, increased efficiency, and robust validation has not only streamlined their processes but also fortified their reputation for delivering high-quality, secure loan files.
Document Forensics
Streamline your documents processing to identify fakes and fraud attempts—even when invisible to the human eye.
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