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First Payment Default (FPD)

First Payment Default (FPD)

Can you determine fraud intent from FPD?
FPD alone may not be a reliable indicator of fraud intent, but it can raise suspicion and prompt further investigation.
What does early default mean?
Early default refers to a borrower’s failure to make a scheduled loan payment within a relatively short period of time after the loan is issued.
What is the most effective way of predicting FPD fraud?
There is no single most effective way of predicting FPD fraud, as lenders typically use a combination of tools and methods such as credit scores, income verification, and fraud detection and prevention software to assess credit risk and detect potential fraud.
What are the common FPD Fraud types and detection methods?
Common FPD Fraud types include identity theft, loan stacking, and false employment/income information. Detection methods include credit checks, employment/income verification, and fraud analytics.

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