Interthinx® Offers FHA Compliance SupportMortgagePress.comfraud prevention, income verification, identity validation, occupany status
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."
For more information, visit www.interthinx.com or call
(800) 333-4510.
