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Interthinx Adds Critical Data Points to Combat Mortgage Fraud

""Interthinx"":http://www.interthinx.com, a national provider of risk mitigation solutions, recently integrated business search and bankruptcy data within its ""FraudGUARD"":http://www.interthinx.com/solutions/fraudguard.php system to help lenders identify high-risk borrowers.
[IMAGE] According to the company, the changes ensure a more concise borrower risk review, can improve loan quality, and provide users with a fraud prevention report.

Mike Zwerner, SVP of Interthinx, noted that in the company's 2010 annual study of mortgage fraud risk, it recorded a nearly 30 percent increase in the employment/income index. He says this could indicate that ‘fraud for property' is on the rise.

""Our product team has kept a close eye on this insidious trend, and we've focused key development in the area of

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identifying employment fraud and misrepresentation,"" Zwerner said. ""We're excited about the added data and analysis within FraudGUARD and the further protection and intelligence this proven tool brings to the residential mortgage lending industry.""

The bankruptcy and associated business search features are optional and customizable. Users can choose to order the new options on all loans or just certain ones.

""This essential product development provides our customers yet another layer of crucial information before funding a loan,"" said Kevin Coop, president of Interthinx.

""Within seconds, our customers will now have answers to questions such as, is the borrower associated with another business that is not the current employer? Is the borrower's employer an inactive corporation? Does the borrower have a bankruptcy record within the last four years? Is there a bankruptcy after the application date?"" Coop explained.

He says with this type of insight, lenders are better prepared to make informed underwriting decisions during a time when loan quality is emphasized over loan quantity.

California-based Interthinx provides solutions for mortgage fraud, collateral risk and valuation, regulatory compliance, forensic loan audit services, loss mitigation, and loss forecasting.

About Author: Heather Cernoch

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