AGOURA HILLS, Calif., Oct 23rd, 2006 — Interthinx, the leading provider of comprehensive fraud prevention, compliance and decision support tools for the mortgage industry and an ISO business, is proud to announce its online FSI: Fraud Scheme Investigator Exam Program in concert with the success of its FSI: Fraud Scheme Investigation training video. The FSI video is a unique mortgage fraud detection training tool, produced by Interthinx, and reflects the style and parody of a popular primetime television series to demonstrate the characteristics and “red flags” of a complicated property flipping scheme. FSI was inspired by actual events and is free to the mortgage industry.
Interthinx™, with the invaluable contributions of knowledge and talent brought to the project by a host of leading mortgage professionals, succeeded in creating an effectual training video to help the industry stem the tide of mortgage fraud. Federal Bureau of Investigation spokesman Steve Kodak confirmed with MortgageDaily.com that an upcoming report will show mortgage fraud losses totaled $1 billion in 2005. The total is more that double the total losses for all of 2004.
“The free online FSI Exam Program will provide a means to measure learning achieved by watching the FSI film and fraud detection training chapters,” said Kevin Coop, president of Interthinx. “With over 1,000 FSI DVD orders to date, the Interthinx training department is excited and able to help mortgage banking employees test their learning retention on the topic of mortgage fraud prevention, 24/7 and from anywhere Internet access is available.”
“This training initiative is ultimately about facing the insidious plague of mortgage fraud head on,” said Julie Woodley, vice president of QC/Risk for Saxon Mortgage. “Interthinx deserves special acknowledgment for having conceived the FSI project and for seeing it to fruition with the utmost quality and care. The Interthinx message is it takes the right balance of training and technology along with a commitment from the industry as a whole to create the best defense against mortgage fraud. I hope all mortgage companies embrace this free tool and training program to arm their front lines with the information necessary to truly fend off the thieves.”
Interthinx is the nation’s leading provider of automated fraud protection, compliance and decision support tools for the mortgage industry. Used by 15 of the top 20 lenders, Interthinx combines its National Fraud Protection Database (NFPD), along with advanced technology and data collection, to offer the most comprehensive fraud detection system available. Interthinx helps to bridge the gaps left by traditional manual fraud detection by enabling the increase of front-end efficiencies while improving quality control and profitability. Its multi-faceted approach to risk management includes innovative training programs designed for greater retention and immediate results. More than 1100 customers rely on Interthinx, an ISO business, for automated scientifically-based solutions, historical analysis and consistent data collection. For more information, visit www.interthinx.com or call 1-800-333-4510.
SO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO’s databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO services help customers protect people, property and financial assets.
William Mills III (Interthinx)
Jamie Pape (Interthinx)