SOURCE: Interthinx

September 15, 2008 09:00 ET

Interthinx® Automated Regulatory Compliance Solution Provides Unmatched Protection

Fee Prohibition and Usury Test Enhancements Within PredProtect® Shield Lenders From Costly Consumer Law Compliance Errors

AGOURA HILLS, CA--(Marketwire - September 15, 2008) - To provide the residential mortgage lending industry with an easier way to comply with consumer law fee and rate restrictions in all 50 states, Interthinx® announces its new Prohibited Fees and Usury Tests within its PredProtect® Regulatory Compliance Suite. The enhancements significantly reduce origination costs and buyback exposure with analysis that can be performed on virtually any loan type. Interthinx is the leading provider of proven risk mitigation and regulatory compliance tools for the mortgage industry.

The new Prohibited Fees Test warns users when a fee found on either the GFE or HUD-1 exceeds state law fee limitations. The new Usury Test warns users when the interest rate or APR exceeds state law rate limitations. The updated PredProtect worksheet identifies violations and provides users a clear explanation about how to achieve compliance.

"In the last year, we have made key advances to our PredProtect system, including the development of a new APR calculator and a new prepayment penalty test," said Roger Fendelman, Esq., vice president of compliance. "These advances, when taken together with our new Prohibited Fees and Usury Tests and existing high-cost loan testing, make our system a true one-stop automated regulatory compliance suite. The protections we offer are unparalleled, and the response has been overwhelming."

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, risk scoring and regulatory compliance analytics 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