SOURCE: Interthinx

June 10, 2008 15:47 ET

Interthinx® Announces the Availability of FraudGUARD in Automated Fraud Insurance Through Its Strategic Alliances With "A" Rated Insurance Carriers

FraudGUARD® Will Power the Automated Underwriting for This New Insurance Category

AGOURA HILLS, CA--(Marketwire - June 10, 2008) - Interthinx®, the leading provider of proven risk mitigation, fraud detection, and regulatory compliance tools for the mortgage industry, announced the availability of its tools to fight mortgage fraud and misrepresentation through its strategic alliances with "A" rated insurance carriers in their offerings of insurance to lenders. This first-of-its-kind combined offering is powered by FraudGUARD® and made part of the automated underwriting engine.

The insurance carriers, which have validated FraudGUARD results, will imbed those results as part of the underwriting engine for this unique line of mortgage fraud and misrepresentation insurance. Unlike previous offerings based on manual file reviews, this fraud insurance process is fully automated by integrating the proven Interthinx FraudGUARD® scoring system. As part of the underwriting process, loans are eligible to be insured based on receipt of a "passing" FraudGUARD score. FraudGUARD is the most comprehensive and progressive evaluation tool in the financial services sector to help reduce risk, decrease mortgage fraud, and improve loan quality.

"Our customers can continue to mitigate their risk by using proven FraudGUARD and its industry-leading fraud-detection capabilities," stated Mike Zwerner, senior vice president of business development and marketing for Interthinx. "However, as an added measure, automated protection is now available through 'A' rated insurance carriers that offer this modernized misrepresentation insurance based on the FraudGUARD scoring system."

"Lenders and investors can now turn a variable fraud loss into a fixed budget item, which is important to many of our customers in today's contracted market," said Kevin Coop, president of Interthinx. He continued, "Lenders can decrease loss reserves while increasing investor and rating agency confidence by purchasing insurance based on our proven scoring system. The stabilization created by this new type of fraud and misrepresentation insurance process and coverage is a path in the right direction for the ailing mortgage industry. We are proud of this exciting new option that is now available nationwide."

About Interthinx

Interthinx, Inc., an ISO business, is the nation's leading provider of proven risk mitigation and regulatory compliance tools for the financial services industry. Used at every point in the mortgage lifecycle to prevent mortgage fraud, compliance violations and to assess risk, Interthinx is relied upon by more than 1,100 customers, including 15 of the top 20 mortgage lenders and three of the top five largest financial institutions. With technology that earned Mortgage Technology Magazine's prestigious 10X Award as "a diagnostic and corrective solution of the highest order," Interthinx expertise in predictive analytics, data mining, and risk scoring sets the standard for the industry and directly increases the value of client portfolios. For more information, visit www.interthinx.com or call (800) 333-4510.

About ISO

A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets. For more information, visit www.iso.com.

Contact Information

  • Media Contact:
    Ron Demeter
    (213) 486-6560 x315