Interthinx® Provides FACT Act Compliance Support

Business Wire, Sept 24, 2008

FraudGUARD[R] supports compliance with mandatory requirements associated with Red Flags identified in the FACT Act

AGOURA HILLS, Calif. -- Interthinx[R] offers a loan-level identity component to assist lenders in complying with mandatory Red Flags identified in the FACT Act (Fair and Accurate Credit Transactions Act). Interthinx is the leading provider of proven risk mitigation, fraud detection, and regulatory compliance for the residential mortgage industry.

FACT Act compliance is mandatory as of November 1, 2008. The legislation requires that banks develop policies and procedures consistent with Customer Information Program (CIP) rules to identify potential instances of identity theft. FraudGUARD[R] by Interthinx, the proven detection tool for measuring and scoring fraud risk, accesses both public and proprietary data to generate more than 45 alerts that assist customers in fulfilling "Red Flag Rule" FACT Act requirements.

"Creditors and financial institutions are obligated to implement a written program that would satisfy the requirements to detect, prevent, and mitigate identity theft," said Kevin Coop, president of Interthinx. "FraudGUARD provides a multitude of critical alerts to support compliance in areas such as Social Security numbers issued prior to date of birth of borrower, invalid phone numbers, and inconsistent personal identification information. FraudGUARD is an outstanding decision-support solution for any lender looking to support their current FACT Act compliance program or to help begin one."

"The issue of identity theft is a significant focus of the FACT Act," added Connie Wilson, executive vice president for Interthinx. "For training purposes, a multitude of FraudGUARD Red Flags have been mapped to specific FACT Act Red Flag Rules to help underwriters understand exactly what loan data needs further scrutiny. For example, under the FACT Act category of 'Suspicious Personal Identifying Information,' Red Flag 10.b states 'SSN has not been issued, or is listed on the Social Security Administration's Death Master File.' FraudGUARD easily identifies Social Security numbers used in Death Benefit claims prior to loan dates."

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.