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Sydney’s Mortgage Loan Fraud Detection: Safeguarding Profit – Anomaly detection is one of the popular topics in machine learning to detect unusual data points in datasets.
For example, in a greenhouse, the temperature and other elements of the greenhouse can suddenly change and affect the health of the plant. Identifying the data anomaly in a credit card transaction or in health data received from a patient, etc. helps us to detect problems as soon as possible and address them.
Sydney’s Mortgage Loan Fraud Detection: Safeguarding Profit
The Microsoft Power BI AI team announces that we have access to line chart time series anomaly detection in Power BI
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Anomaly detection in Microsoft Power BI is for time series data, which means it can find that anomaly in the data based on the time horizon.
2- Click on the line chart in the preview panel and select the date for axis and temperature in values.
5- You should see the chart below, the pint in the chart shows the detected anomaly with 70% sensitivity
6- You can change the sensitivity to higher or lower. if you decrease the sensitivity you may see more data points, also if you increase the sensitivity you may see more anomaly data points.
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You can reduce the sensitivity ti 56% to see fewer points on the data, then increase it to 93% to see more anomalies
7- In the next step you can add some ore values that can help to better describe the cause of the anomalies. I just added some attributes like rain, mist, fog, etc.
9- you can see the explanation for each anomaly data point by clicking on it. A new page called the anomaly page will be displayed, first displaying some explanation about the expected value. Next, a little more explanation of what factors can affect this anomaly. just note that there may be some explanation for one point, not all data points.
For example, in the picture below, the data point has an anomaly of 73 degrees, and the expected value is 32. Also, we have foggy weather on this date, which has a 45% greater influence on the weather temperature.
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Leila is the first Microsoft AI MVP in New Zealand and Australia, she has a Ph.D. in Information Systems from Oakland University. She is a co-director and data scientist at a company with more than 100 customers worldwide. She co-organizes the Microsoft Business Intelligence and Power BI Use group (meetup) in Auckland with more than 1200 members. She co-organizes three major conferences in Auckland: SQL Saturday Auckland (2015 to date) with more than 400 registrations, Difinity (2017 to now) with more than 200 registrations and Global AI Bootcamp 2018. She is a data scientist, BI consultant, trainer and speaker. She is a well-known international speaker at many conferences like Microsoft ignite, SQL pass, Data Platform Summit, SQL Saturday, Power BI world Tour, etc. in Europe, USA, Asia, Australia and New Zealand. He has over ten years of experience working with databases and software systems. She has participated in many large-scale projects for large companies. She is also a Microsoft MVP for AI and Data Platform. Leila is an active Microsoft AI technical blogger for . Data from the Finder survey of 1,114 respondents showed that at least one in eight people had lied on their home loan application forms, with 310 of the respondents owning a mortgage.
If the ratio were applied to the wider population, it would equate to 429,000 mortgage lenders admitting to falsifying their details during the home buying process.
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It also found that 4 percent of respondents admitted to lying about their income and the amount of debt they still owed in their home loan applications.
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Finder’s home loan expert Richard Wheaton said lying on these applications can still have consequences down the road, even if the lies aren’t caught straight away – including losing the home.
“Falsifying information on a mortgage application can have serious consequences. Not only could it potentially qualify as fraud, but it could also result in you losing your home in the worst-case scenario,” Whitten said.
“Although lies may go unnoticed – the financial burden of an unaffordable loan can create a lot of stress.”
Thousands of Australian homeowners have lied about their income and debt in their home loan applications, according to a Finder survey. Credit: AAP
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While Whitten says lying on home loan applications isn’t entirely surprising, he warns that significant discrepancies in a person’s finances can set the stage for legal trouble and greater debt down the road.
“As housing affordability deteriorates, Australians fear being rejected and missing out on the property ladder.
“While small inaccuracies may not be the end of the world, if a creditor discovers a large discrepancy in the figures you’ve given them, or you’ve outright lied about your financial situation, the consequences can be severe.
“Home loan contracts usually contain wording around providing misleading or false information to the lender. At worst, lying on a mortgage application is grounds for an event of default, which means the lender can sell your property.
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“Legalities aside, you put yourself in a risky position if you lie on your application and borrow more than you can afford.”
Despite rising interest rates and inflation, property values continue to decline in many of Australia’s capital cities. Credit: AAP
Whitten also advises aspiring homeowners to be honest about their income and disclose all loans and credit cards when applying for a home loan.
He also warns that those caught in the lie could have their credit score affected or their loan foreclosed on.
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“Lenders check everything and applicants who deliberately provide false information could potentially get a black mark on their credit score, and in severe cases applicants can get their loan, meaning they have to pay off the loan in a hurry.”
In addition to lying about their income or debt, common lies that borrowers tell include overestimating the value of their assets, claiming that an investment property is owner-occupied, claiming a false residency status, misrepresenting the source of deposit funds and even outright lying about someone’s employer details.
Australia’s cost of living crisis continues as interest rates hit a ten-year high in December of 3.10 percent, with the next rate hike expected in February.
Despite rising interest rates and inflation, property values continue to fall in many of Australia’s capital cities, with Sydney and Canberra the most significant declines. Adelaide is also experiencing high sales prices.
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Nationally, home prices fell an average of 4.1% in the September 2022 quarter, followed by a 3.3% drop in the three months to December 31, 2022, property market research company CoreLogic found.
Details in Farmer Wants a Wife star’s post sends fans into a spin Car rolls outside busy Brisbane children’s center An ASIC probe into credit fraud has resulted in permanent bans for former National Australia Bank employees Danny Merheb and Samar Merjan (known also as Samar Awad) from performing credit activities and providing financial services.
NAB has alerted ASIC to the misconduct of its former employees, alleging the bank’s employees in much of Sydney’s western region were accepting false documents to support loan applications.
Mr Merheb was found to have recklessly given NAB false pay slips, letters of employment, bank statements and statutory declarations in respect of home loan applications. Ms Merjan was found to have knowingly and recklessly given NAB false pay slips and employment letters in connection with personal loan and credit card applications.
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The false information and documentation submitted by Mr. Merheb and Ms. Merjan were primarily provided to them by a third party unrelated to NAB.
The bans follow NAB’s announcement of a remediation program for home loan customers in November 2017 after an internal review found that some home loans may have been submitted with inaccurate customer information and/or documentation, or incorrect information relating to with NAB’s Introducer Program.
Mr Merheb and Ms Merjan were permanently banned on 29 June 2018. Both have the right to apply for a review of ASIC’s decisions in the Administrative Appeals Tribunal.
On 16 November 2017, NAB announced a remediation program for home loan customers following an internal review prompted by reports received from whistleblowers which found that some home loans may not have been established in accordance with NAB policies. NAB.
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NAB found that around 2,300 home loans since 2013 may have been submitted with inaccurate customer information and/or documentation, or incorrect information in relation to NAB’s referral program. People scrolling through online search results and social media are urged to avoid clicking on “sponsored” ads from unknown sources.
Scamwatch said this particular pop-up ad for popular Frank Green water bottles directs anyone who clicks on it to a scam website.
If you get a text message from what looks like myGov claiming your tax refund has been processed automatically – don’t fall for it.
The Australian Competition and Consumer Commission’s Scamwatch said “these are fraudulent messages” designed to con you out of your hard-earned money.
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“Watch out for messages that look like
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