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Morris Hardwick Schneider names five new partners

Feb 17, 2009

Interthinx bolsters identity theft detectionMortgagePress.comInterthinx , identity theft, mortgage loan applications, FraudGUARD, Identity Verification Based on the disturbing trend of identity theft found in mortgage loan applications, Interthinx has enhanced the Identity Verification feature in FraudGUARD with a more robust set of identity data and improved analytics for superior fraud detection. The new identity data is seamlessly integrated into FraudGUARD and intelligently groups borrower information to isolate identity misrepresentation before loan funding. Interthinx is a leading provider of proven risk mitigation, fraud detection, and regulatory compliance tools for the residential mortgage industry. "Over the last six months, our analysis shows an average of 5.7 percent of loan applications are from borrowers who simply are not who they say they are," said Stacey Louie, senior vice president of product development for Interthinx. "This level of identity misrepresentation exposes lenders to extreme and intolerable risk. In response to client demand, our developers have carefully incorporated a comprehensive identity data set into Interthinx proprietary technology. The 16 new identity alerts and state-of-the-art analytics within FraudGUARD reduce false positive findings and improve fraud scoring." The identity enhancement enables lenders to locate maiden names, alias, and misspelled names and borrowers who have changed their identity. The enhancement also includes information such as the number of trade counts associated with a borrower's name and social security number (SSN), the number of trade counts associated with a borrower's address, additional reported SSN's associated with a submitted SSN, property type for each borrower address, and employer information reported to a credit bureau. "Underwriting resources are down, volume is up, and lenders need tools to streamline processes," added Connie Wilson, executive vice president for Interthinx. "In today's high tech and unforgiving environment, it's imperative to know who you are lending to. Comprehensive identity verification of a loan applicant will not only help financial institutions comply with regulations such as the USA Patriot Act, The Fact Act, and various FHA requirements, but will help ensure quality and reduce underwriting time." For more information, visit
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