AGOURA HILLS, Calif., January 19, 2011 — Interthinx today announced the integration of the Interthinx FraudGUARD® and PredProtect® products into the MortgageFlex Residential Lending System (RLS.Net). Interthinx is a leading national provider of comprehensive risk mitigation solutions in the areas of mortgage fraud, collateral valuation, regulatory compliance, audit services, and loss forecasting. MortgageFlex was founded 30 years ago to simplify loan origination and servicing for lenders.
The integration provides joint Interthinx and MortgageFlex customers the ability to perform fraud prevention and risk mitigation tests on loans before approval and to verify that approved loans are in compliance with hundreds of federal and state antipredatory lending requirements, including the HOEPA Section 35 and Truth-In-Lending Act and Mortgage Disclosure Improvement Act tolerances.
“We’re very pleased to team with MortgageFlex to provide lenders an integrated FraudGUARD solution to minimize redundant work, reduce costly errors, close loans faster, provide secure data transmission for sensitive consumer information, and minimize losses due to fraud. In addition, the integration with PredProtect provides shared clients the ability to keep pace with the surge of new laws and increased enforcement by both regulators and investors,” said Mike Zwerner, senior vice president of Interthinx.
Craig Bechtle, chief operating officer for MortgageFlex, added, “Delivering FraudGUARD and PredProtect via RLS.Net requires no mapping, no programming, and no additional integration costs for MortgageFlex customers. This is a major advantage for our customers.”
Interthinx, a Verisk Analytics subsidiary, is a leading national provider of comprehensive risk mitigation solutions in the areas of mortgage fraud, collateral valuation, regulatory compliance, audit services, and loss forecasting. The Interthinx quarterly Mortgage Fraud Risk Report is a standard for the financial services industry and includes analysis of national mortgage fraud risk with indices for the most common types of risk. At every point in the mortgage life cycle, the Interthinx suite of services can directly increase the value of client portfolios. Winner of Mortgage Technology magazine’s 10X Award, Interthinx is a charter participant in the national fraud prevention database MERS® FraudALERT, a powerful utility that allows members of the mortgage industry to share data while maintaining privacy in a secure environment. For more information, visit www.interthinx.com or call 1-800-333-4510.
About MortgageFlex Systems, Inc.
MortgageFlex Systems, Inc., Jacksonville, FL, founded in 1980, provides innovative loan origination and servicing software solutions to the lending industry. Developed entirely in Microsoft .NET, the MortgageFlex product platform supports evolving business processes as well as government compliance requirements with business rules, intuitive workflow and an embedded product and pricing engine. For information about products and services, call 800-326-3539 or visit www.mortgageflex.com.