AGOURA HILLS, CA, August 26, 2008 — Interthinx® now offers specific FHA Requirement Solutions to help lenders ensure compliant FHA lending programs. Interthinx features and services — such as income verification, identity validation, occupancy status, automated regulatory compliance checks, and third-party certifications — provide the necessary data validation to meet a broad number of specific requirements to support the rapidly growing share of FHA business for many lenders. Interthinx is the leading provider of proven risk mitigation, mortgage fraud prevention and regulatory compliance tools for the residential mortgage industry.
“Although FHA lending programs are clearly presenting profitable revenue opportunities in the residential mortgage marketplace, lenders are at risk if they mistakenly loan outside of strict requirements,” stated Mike Zwerner, senior vice president of business development and marketing for Interthinx. “With the many rules, regulations, and restrictions, Interthinx can help limit the risk of missing important facts that could make a loan uninsurable by the FHA.”
For training purposes, a multitude of Interthinx “Red Flags” have been mapped to specific FHA requirements to help challenged underwriters understand exactly what loan data needs further scrutiny. For example, FHA handbook 4155.1 states FHA will insure “Owner Occupied principle residences only. At least one borrower must occupy the property.” Interthinx provides a minimum of eleven Red Flag alerts around the issue of occupancy that, under various circumstances, will trigger and notify an underwriter of potential fraud or risk.
“Lenders can find the increased demand of FHA underwriting overwhelming — especially after coming from an environment with fewer regulations and having the ability to make policy exceptions,” added Connie Wilson, executive vice president of Interthinx. “Our FHA Requirement Solutions were developed by Interthinx fraud experts who have experience underwriting FHA loans. They understand the data verification necessary for compliance and how our products satisfy requirements and/or uncover potential fraud. Our goal is to replace some of the confusion with certainty.”
Interthinx, Inc., an ISO business, is the nation’s leading provider of proven 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 more than 1,100 customers, including 15 of the top 20 mortgage lenders and three of the top five largest financial institutions. With technology that 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. For more information, visit www.interthinx.com or call 1-800-333-4510.
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets.
MWW Group (for ISO)