AGOURA HILLS, CA, June 8, 2010 — Interthinx has released its quarterly Mortgage Fraud Risk Report, covering data collected during the first quarter of 2010. The report includes an analysis of national mortgage fraud risk and indices for the four most common types of mortgage fraud risk. Based on the most current data available, overall fraud risk has increased by 4 percent from the previous quarter and 11 percent from the same quarter a year ago to 151 (n = 100). This is the first time since 2004 that the index has exceeded 150.
Major findings include the following:
The Mortgage Fraud Risk Report is an Interthinx information product created by an internal team of fraud experts. The report was prepared with input from Constance Wilson, Ann Fulmer, Shane De Zilwa, Ph.D., and the Interthinx analytics team. This is the fourth time the company has released its quarterly report, which is providing deeper insight into current fraud trends through analysis of the extensive pool of data the company amasses from the industry’s use of the Interthinx FraudGUARD® loan-level fraud detection tool.
“Our lender customers can now benefit from our investment in fraud detection and risk mitigation analytics as we share a more detailed analysis of the data we’ve been collecting,” said Kevin Coop, president of Interthinx. “The data we’ve analyzed in our most recent report will help lenders anticipate and prepare for trends that will impact their risk mitigation strategies. This will contribute to their continued success.”
“It behooves all lenders to take a closer look at the first-quarter report and take advantage of the analysis our research team has performed,” added Mike Zwerner, senior vice president for Interthinx. “Our quarterly report is fast becoming the primary source for detailed fraud risk information for the mortgage industry. It provides the only regular report on what is happening in originations today, which allows lenders to take proactive steps to reduce their risk substantially.”
For more information about the Interthinx Mortgage Fraud Risk Report, visit http://www.Interthinx.com.
Interthinx, Inc., a Verisk Analytics subsidiary, is a leading national provider of proven risk mitigation and regulatory compliance tools for the financial services industry. At every point in the mortgage life cycle, Interthinx helps to assess risk and prevent mortgage fraud and compliance violations. Interthinx earned Mortgage Technology magazine’s prestigious 10X Award as “a diagnostic and corrective solution of the highest order” for its technological expertise in predictive analytics, data mining, and risk scoring. The Interthinx suite of solutions 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.