Lend America receives approval for Ginnie Mae issuer status – NMP Skip to main content

Lend America receives approval for Ginnie Mae issuer status

National Mortgage Professional
Jun 26, 2008

Interthinx integrates MERS data to enhance automated fraud detectionMortgagePress.comInterthinx, MERS, Mortgage Electronic Registration Systems, FraudGUARD, mortgage fraud Interthinx Inc., a provider of proven risk mitigation, mortgage fraud prevention and regulatory compliance tools for the mortgage industry, has integrated MERS (Mortgage Electronic Registration Systems Inc.) data into its proven FraudGUARD scoring system to detect undisclosed properties, reveal investors claiming owner occupancy, and uncover recently closed loans that could indicate a borrower's intent to commit mortgage fraud. "'Shotgunning' is a simultaneous closing scheme that occurs when a borrower takes out multiple loans on the same property," stated Connie Wilson, executive vice president of Interthinx. "It can easily go undetected when lenders cannot quickly search for loans associated with the borrower or subject property. This new feature allows FraudGUARD users to automatically access the MERS database of registered real-estate transactions to conduct such searches during the FraudGUARD scoring process for automated detection of potential fraud before funding a loan." "Our integration of MERS data enables our customers to detect undisclosed loans associated with the borrower that could also skew debt-to-income ratios and cause lenders to misprice loans," added Mike Zwerner, senior vice president of business development and marketing at Interthinx. "This integration, available through FraudGUARD at no cost to our customers, contributes to their operational efficiency, process consistency, and bottom line." "MERS is committed to working with Interthinx to fight the onslaught of multiple application mortgage fraud," stated Dan McLaughlin, executive vice president of MERS. "Having the MERS loan-registration information available through FraudGUARD from Interthinx, presents a powerful solution for lenders looking for new weaponry in this environment of epidemic mortgage fraud." For more information, visit www.interthinx.com.
Published
Jun 26, 2008
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