SOURCE: Interthinx

July 19, 2007 09:00 ET

Interthinx® Automates Third Party Review

Same Day Results for Third Party Review Service Assist in the Fight Against Mortgage Fraud

AGOURA HILLS, CA--(Marketwire - July 19, 2007) - Interthinx®, the leading provider of proven risk mitigation, mortgage fraud prevention and regulatory compliance tools for the financial industry, has completed automation for lenders to validate broker submitted data with same day results. With its suite of Third Party Review solutions, Interthinx monitors nearly half a million broker/lender licenses per month and provides that information to eight of the top ten financial services companies in the nation. The new automation enables Interthinx to alert lenders of issues pertaining to license information and status, licensee derogatory information, social security number, bankruptcy filings, address and phone number and the broker's inclusion on the OFAC (Office of Foreign Asset Control) list, industry and client submitted watch lists and Interthinx's NFPD (National Fraud Protection Database) on mortgage brokers with near immediate results.

"FBI statistics reveal that 80% of mortgage frauds involve industry participants," said Kevin Coop, president of Interthinx. "Participants can include appraisers, brokers, real estate agents, etc. Interthinx's ability to provide same day reports on the status of broker licensing can not only arm today's lenders with crucial data on business partners, but may help prevent more undesirable business partners from breaching company walls."

The Third Party Review automation provides lenders fresh data, which is imperative to today's decision processes where licensing status of current and potential business partners is always in flux. "To avoid being a victim of mortgage fraud, it's important to know who you're doing business with today," said Connie Wilson, executive vice president of Interthinx. "Part of your broker review process should absolutely include a current license check and thorough background check. Automation of this type of process streamlines office efficiencies and ensures an additional layer of risk protection necessary in today's rather dubious environment."

About Interthinx

Interthinx, Inc., an ISO business, is the nation's leading provider of 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 over 1400 customers, including 15 of the top 20 mortgage lenders and 3 of the top 5 largest financial institutions. With technology which 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

ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO services help customers protect people, property and financial assets. For more information, please visit www.iso.com.

Contact Information

  • Contact:
    Michael DiVirgilio
    (213)-286-6560 ext. 328