Interthinx® Mortgage Loan File Review Business Sees Explosive Growth, Bolsters Automated Fraud Detection

Business Wire, Oct 20, 2008

A 400 percent increase in business puts fraudulent findings from more than 4,000 loan file reviews per month directly into FraudGUARD[R] for the benefit of mortgage lenders

SAN FRANCISCO -- Agoura Hills, Calif.-based Interthinx[R] announced from the 95th Annual Mortgage Bankers Association's Conference and Expo that, due to historic lender demand, the company is now completing more than 4,000 mortgage loan file investigations and quality control reviews each month -- a 400 percent increase from a year ago. By placing findings directly into its automated fraud detection system, Interthinx continually updates its model with emerging fraud schemes and tactics, which has already resulted in one new module added to FraudGUARD, the company's preeminent loan-level fraud detection tool. Interthinx is the leading provider of proven risk mitigation, fraud detection, and regulatory compliance for the residential mortgage industry and the only company using current file reviews to enhance its software tools.

"Most recently, the investigations team identified complex, undisclosed liability misrepresentation across hundreds of files and worked swiftly with our technology team on enhanced analytics for FraudGUARD," said Kevin Coop, president of Interthinx. "The result is an advanced Ownership and Occupancy module within FraudGUARD designed to detect undisclosed properties which can skew debt-to-income ratios, and reveal property investors who falsely claim owner occupancy status in loan applications. This comes at a fortuitous time as 'buy and bail' schemes, now prevalent in FHA lending, can be mitigated with the recent FraudGUARD enhancement."

"Results from the thousands of monthly file reviews are systematically captured and sent to the Interthinx technology team for conversion into 'learned behavior,'" stated Connie Wilson, executive vice president of Interthinx. "Emulating the most current fraud tactics, specific models and search algorithms within FraudGUARD are quickly deployed to identify new, suspicious patterns and commonalities across extensive Interthinx data sets." FraudGUARD is a proven detection tool that measures and scores fraud risk against public, private and proprietary data sources.

"The continuous direct feed of massive internal investigative findings into FraudGUARD clearly separates Interthinx from other fraud detection providers," added Kevin Coop. "This is a crucial time for technologists to be nimble and swift in discovery of, and reaction to, current market dynamics."

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.