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Experian partnership with CoreLogic enhances fraud protection for UK mortgage lenders

Experian partnership with CoreLogic enhances fraud protection for UK mortgage lenders

Nottingham, 19 July 2011 – Experian®, the global information services company, and CoreLogic, a leading provider of property information, analytics and business services, today announced a partnership to make the CoreLogic FraudMark scoring software available to UK mortgage providers through Experian’s Hunter II fraud detection system.

The partnership will allow UK mortgage providers to use the FraudMark fraud detection model to refer and prioritise potentially fraudulent applications, whilst using their existing Hunter platform to manage the alerts generated.  Organisations that access FraudMark through Hunter can increase productivity and fraud detection rates by focusing available resources on the highest risk cases.

Recent analysis from Experian revealed that mortgage fraud attempts increased by 14 per cent in 2010. 32 in every 10,000 applications for mortgages were identified as being fraudulent. Attempts typically involved individuals inflating incomes, misrepresenting their employment and personal finances or not disclosing previous addresses in an attempt to conceal an adverse credit history.

Nick Mothershaw, Director of Identity & Fraud at Experian, comments: “Increasing levels of mortgage fraud, and greater sophistication in how it is attempted, underline the need to improve identity verification and fraud prevention tools used in the application process. Our partnership with CoreLogic will further enhance the fraud detection and prevention capabilities available to mortgage lenders in the UK.”

Peter Stimson, UK Managing Director at CoreLogic, comments: “The increase in ‘soft’ fraud types where an applicant is acting in isolation to purchase a property as well as professional mortgage fraud rings, has created an increased demand for fraud identification tools. Our relationship with Experian means that mortgage lenders can now access even richer data and insight, making mortgage fraud identification easier and more reliable.”

ENDS

For further information regarding Experian, please contact:

Chantal Heckford / Sarah Tye/ Kate Douglas
Lansons Communications
+44 (0)20 7490 8828
chantalh@lansons.com / saraht@lansons.com / kated@lansons.com

For further information regarding CoreLogic, please contact:

Alyson Austin
Corporate Communications
00 (1) 714-250-6180
newsmedia@corelogic.com

Dan Smith
Investor Relations
00 (1) 703-610-5410
investor@corelogic.com

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.

For more information, visit http://www.experianplc.com .

About CoreLogic
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2010 revenues of $1.6 billion. For more information visit
www.corelogic.com .

CORELOGIC is a United States registered trademark of CoreLogic.
FraudMark is a United Kingdom registered trademark of CoreLogic Solutions Limited