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After finding that property valuation mortgage fraud risk has risen since 2006, ""Interthinx"":http://www.interthinx.com/ responded to its own research by incorporating satellite images from Google Maps as a solution.
[IMAGE]Interthinx stated that the inclusion of satellite image data within the company's FraudGUARD can improve loan quality, provides users with a more comprehensive fraud prevention report, and enables a more concise overall risk review.
[COLUMN_BREAK]""According to our findings, property valuation fraud risk has more than doubled since 2006, which could expose lenders to buyback requests that could cripple their companies,"" said Ian Anthony, director of product management at Interthinx. ""Our product team recognized the threat and alerted our customers. They responded by comparing photos from appraisal reports or Broker Price Opinion (BPO) photos to satellite images through multiple steps.""
Interthinx's FraudGUARD software contacts the Google Satellite image database in real-time, which returns a 360 degree street level view of the property.
The new Interthinx product enhancement can also highlight risk associated with borrower employment and intent to occupy by pinpointing potential misrepresentations of employer location. In addition, the distances between the property, borrower's current residence, and employer location can also be quickly identified.
Headquartered in Agoura Hills, California, Interthinx is a national provider of risk mitigation solutions focusing on mortgage fraud, collateral risk and valuation, regulatory compliance, forensic loan audit services, loss mitigation, and loss forecasting.
