Fast, Accurate Identity Verification Helps California Homeowners

The state used AI/ML-driven identity verification software to fight fraud and deliver nearly $1 billion in post-COVID-19 mortgage relief.

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~1B

Dollars in federal funds to be distributed by California’s Mortgage Relief Program

30,000+

variables analyzed in Socure’s solution uses AI/ML algorithms

94%

positive identity verification of California’s Mortgage Relief Program applicants with Socure’s automated solution

Challenges

In March 2021, homeowner relief funding from the American Rescue Plan Act put program administrators on high alert due to reports of massive fraud in other COVID-related programs.
California’s Mortgage Relief Program needed technology to approve assistance applications quickly, easily and accurately.

Key results

Socure’s solution leverages risk scores and factors in custom identity logic specific to the Mortgage Relief Program’s needs to validate an individual’s identity.
The California Mortgage Relief Program positively verified the identity of applicants nearly 94 percent of the time through Socure’s automated solution.

We were looking for real-time, accurate identity verification that allows us to improve our operational efficiencies. If we are able to have our staff spend more time on processing and decisioning applications rather than validating an applicant’s identity, it not only improves productivity but also saves costs for the program.

- Stephen Johnson, Director of Finance for the California Mortgage Relief Program and VP of OSaaS

Let us prove it.

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