CALABASAS, Calif., March 30, 2006 — Interthinx™, a leading provider of comprehensive fraud prevention and decision support tools for the mortgage industry, and a unit of ISO, announced ISO's acquisition of RegsData, a provider of automated mortgage licensing compliance services. RegsData's flagship product, State Verification and Alert Repository, is a nationwide database of licensing information for all non-depository first and second mortgage brokers and lenders. RegsData also offers State Verification and Alert Repository Monitor, an efficient automated process to continuously monitor the license status of a lender's approved broker list. Terms were not disclosed.
"As the demand for automated broker and third party license checks grows, Interthinx continues to build a more comprehensive solution with targeted offerings to meet this need," said Kevin Coop, president of Interthinx. "Adding RegsData is a key addition to our already powerful fraud protection solution. We look forward to strengthening our offerings to customers with RegsData's proven products."
RegsData centrally stores data and allows the proactive monitoring of license information from the 49 states, and District of Columbia, where some type of license to originate home loans within that state is required. It continuously gathers license data from each state and, together with a process of data verification and validation, offers users accurate and timely information about license status and validity. RegsData's products will be integrated with Interthinx's National Fraud Protection Database and Third Party Review (TPR) services, further enhancing Interthinx customers' ability to manage and monitor their third-party relationships.
"The mortgage industry is experiencing an increase in third party fraud, and license verifications are essential to combating these challenges," said George Pressly, Jr. president of RegsData. "The combination of our automated license verification offering with Interthinx's fraud detection suite of products provides an all-encompassing solution for mortgage lenders."
RegsData's existing executive team will continue to be active with the company.
About Interthinx
Interthinx is the nation's leading provider of automated fraud protection 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 for automated scientifically-based solutions, historical analysis and consistent data collection. For more information, visit www.interthinx.com or call 800-333-4510.
About ISO
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 U.S. and around the world, ISO's services help customers protect people, property and financial assets. For more information about ISO, please visit www.verisk.com.
About RegsData
RegsData focuses solely on helping our Clients and Partners mitigate compliance risk around mortgage broker and lender licensing. We primarily serve large wholesale and correspondent lenders. Our flagship offering is the State Verification and Alert Repository The State Verification and Alert Repository which is a proprietary aggregation and archive repository of licensing information for all non-depository 1st and 2nd mortgage brokers and lenders. The State Verification and Alert Repository centrally stores data from and allows the proactive monitoring of license information from the forty nine states that require some type of license to originate loans within that state. The State Verification and Alert Repository continuously gathers data from each state and, together with a rigorous process of data verification and validation, is able to offer our users accurate and timely information about license status and validity. Whether through direct browser-based queries, batch XML file delivery, or customized real-time automation, our commitment is to provide the information and insight required for mortgage compliance.
Release: Immediate
Contacts:
Giuseppe Barone / Erica Helton
MWW Group (for ISO)
201-507-9500
gbarone@mww.com / ehelton@mww.com
Tara Tuschinski (Interthinx)
(678) 781-7209
tara@williammills.com