Interthinx automated regulatory compliance solution provides unmatched protection MortgagePress.comInterthinx, compliance, prohibited fees, usury tests
To provide the residential mortgage lending industry with an
easier way to comply with consumer law fee and rate restrictions in
all 50 states, Interthinx announces its new Prohibited Fees and
Usury Tests within its PredProtect Regulatory Compliance Suite. The
enhancements significantly reduce origination costs and buyback
exposure with analysis that can be performed on virtually any loan
type. Interthinx is a provider of risk mitigation and regulatory
compliance tools for the mortgage industry.
The new Prohibited Fees Test warns users when a fee found on
either the GFE or HUD-1 exceeds state law fee limitations. The new
Usury Test warns users when the interest rate or APR exceeds state
law rate limitations. The updated PredProtect worksheet identifies
violations and provides users a clear explanation about how to
"In the last year, we have made key advances to our PredProtect
system, including the development of a new APR calculator and a new
prepayment penalty test," said Roger Fendelman, Esq., vice
president of compliance. "These advances, when taken together with
our new Prohibited Fees and Usury Tests and existing high-cost loan
testing, make our system a true one-stop automated regulatory
compliance suite. The protections we offer are unparalleled, and
the response has been overwhelming."
For more information, visit www.interthinx.com.