Tag Archives: Interthinx

Interthinx has released its quarterly Mortgage Fraud Risk Report covering data collected during the first three months of this year. The company found that the geographic distribution of fraud risk has ""evened out"" since its last study as faltering market conditions across the country have enticed fraudsters to try their hand. Despite a decline in its index reading, Nevada remains the state most at-risk for mortgage fraud. Wyoming, South Dakota, Connecticut, and Hawaii were reported to have the largest increases in fraud risk.

Interthinx, a provider of risk mitigation solutions, recently integrated business search and bankruptcy data within its FraudGUARD system to help lenders identify high-risk borrowers. 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.

Data released Monday shows an increase in mortgage related fraud in areas with high rates of foreclosures and underwater borrowers. Risk analytics firm Interthinx released its annual Mortgage Fraud Risk Report which analyzes loan applications and determines the most significant mortgage fraud risk trends for the past year. According to the report, overall mortgage fraud risk is highest in areas that have been hit hardest by the housing and economic downturns, and fraud criminals are migrating to these regions.

A new study by analytics firm Interthinx says mortgage fraud risk has been spreading from ZIP code to ZIP code. The company's quarterly Mortgage Fraud Risk Report covers data collected from the fourth quarter of 2010 and tracks overall and type-specific mortgage fraud risk. It provides an in-depth analysis of fraud risk from specific ZIP codes. The report shows that previously localized risks in one or more ZIP codes are in danger of spreading throughout a metropolitan area.

Mortgage technology provider ISGN recently partnered with Interthinx, a provider of risk mitigation solutions covering mortgage fraud, collateral valuation, regulatory compliance, audit services, and loss forecasting. ISGN will add Interthinx's FraudGUARD fraud detection solution and PredProtect Compliance Suite to the MORvision loan origination system Plug-In Partner Network. ISGN says these additions will prevent fraud and ensure compliance prior to loan funding.

Interthinx was awarded a Federal Supply Schedule contract by the General Services Administration (GSA) to sell its products and services directly to federal government organizations. The contract streamlines the government procurement process and allows government customers to buy offerings at pre-negotiated rates. Interthinx will offer government customers access to mortgage risk mitigation tools.

Trends are emerging that indicate ""fraud for property,"" i.e. fraud to attain homeownership, is returning to the industry. The analysts at Interthinx reached this conclusion after witnessing steep increases in two of the four types of mortgage fraud the company tracks. According to the firm's quarterly report released Monday, its risk indices for employment/income fraud and identity fraud in mortgage applications have both jumped more than 20 percent over the last year.

Mortgage fraud has become more prevalent over the past couple of years as perpetrators look to capitalize on deteriorated market conditions. But a new study released by Interthinx this week indicates that mortgages are now less likely to involve fraud than they were during the first part of this year. The company says its national mortgage fraud risk index declined 3 percent during the second quarter, but Interthinx warns that areas already feeling the effects of past fraudulent transactions are finding mortgage fraud hard to eradicate.