AGOURA HILLS, Calif., March 26, 2007 — Interthinx® the leading provider of comprehensive fraud prevention, regulatory compliance and risk mitigation tools for the mortgage industry, has successfully integrated its HCL — High Cost Loan FilterSM real-time automated compliance tool into Harland Financial Solutions’ Interlinq® E3 enterprise mortgage lending solution. HCL now performs nearly a dozen loan-level compliance reviews and identifies high cost loan violations as defined by federal, state and local laws and investor guidelines. Harland Financial Solutions is a wholly owned subsidiary of John H. Harland Company (NYSE: JH).
HCL from Interthinx is Web-based technology designed to alert lenders whenever loans are not in compliance. The system is always updated with the most up-to-date regulations from all federal, state and local anti-predatory lending laws, and contains an in-depth federal Truth-In-Lending APR analysis, OFAC check and much more. Once the loan data is entered into HCL, the system scans the information and matches it against thousands of rules. HCL generates its results in seconds and warns the lender of potential APR errors, anti-predatory lending law violations and many other state law prohibitions. An easy-to-use worksheet is displayed and can be placed in the loan file or sent to the investor.
The Interlinq E3 web-based loan production platform provides critical business process management, integration and connectivity across the mortgage supply chain, enabling lenders to integrate service providers into their business process.
The integrated solution is expected to provide the increased efficiencies lenders have been seeking. Harland Financial Solutions has approximately 170 lenders using Interlinq E3 to produce mortgage loans.
“By integrating Interthinx’ scoring system into the Interlinq E3 system, users are able to test loans for compliance with anti-predatory lending laws more efficiently from within each loan file,” said Joe Filoseta, executive vice president of Harland Financial Solutions’ Mortgage Solutions Group. Conditions that need to be cleared are marked for lender attention, and lenders can just click through to the Interthinx website for more detail. “Later this year, Interlinq E3 will filter HCL conditions through its conditions management feature, which helps lenders track the conditions, data and documents required to perfect a loan,” added Filoseta.
“With the increased emphasis on compliance, the combination of Interthinx HCL with Harland Financial Solutions’ Interlinq E3 solution offers lenders a powerful weapon in the effort to prevent predatory lending and many other compliance violations,” noted Mike Zwerner, Sr. Vice President Business Development & Marketing for Interthinx.
About Harland Financial Solutions
Harland Financial Solutions supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. The company is a leader in core systems, item processing, enterprise content management, branch automation, customer relationship management, business intelligence, origination and document solutions, risk management, compliance training, financial accounting, open documents, mortgage solutions, electronic funds transfer (EFT), self service solutions and performance advisory services.
Atlanta-based John H. Harland Company (NYSE: JH) is listed on the New York Stock Exchange under the symbol “JH.” Harland is a leading provider of software and printed products to the financial institution market. Harland’s software solutions include deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems and customer relationship management systems. Harland’s printed products offerings include checks, direct marketing and financial forms. Scantron Corporation (www.scantron.com), a wholly owned subsidiary, is a leading provider of software services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.
Interthinx, Inc., an ISO business, is the nation’s leading provider of 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 over 1400 customers, including 15 of the top 20 mortgage lenders and 3 of the top 5 largest financial institutions. With technology which 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. As part of its overall commitment to collaboration and mortgage fraud prevention, Interthinx has shared its expertise in fraud detection with the Federal Bureau of Investigation (FBI), the Department of Justice (DOJ), the Office of Thrift Supervision (OTS), the Federal Deposit Insurance Corporation (FDIC) and state agencies and local law enforcement in addition to providing major lenders with forensic reviews of loan files. For more information, visit www.interthinx.com or call 1-800-333-4510.
ISO 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 United States and around the world, ISO’s services help customers protect people, property, and financial assets.