To further increase the accuracy of the information reported within its Third Party Review (TPR) comprehensive background check on brokers, Interthinx has added Advanced Name Matching into its technology platform. Interthinx Inc., is the leading provider of proven risk mitigation, mortgage fraud prevention, and regulatory compliance tools for the mortgage industry. The platform enhancement will drastically improve the veracity of alerts and reduce false positive alert notifications that trigger for Client Watch Lists, OFAC (Office of Foreign Asset Control), FHLMC (Freddie Mac) Exclusionary, HUD LDP (U.S. Dept. of Housing and Urban Development Limited Denial of Participation), NFPD (National Fraud Protection Database) and Bankruptcy databases.
"Most name matching solutions identify variations due to phonetic errors, accounting for only 20 to 25 percent of all name matching errors," stated Stacey Louie, senior vice president of product development and engineering for Interthinx. "In addition to phonetic errors, the Interthinx solution will overcome common variations associated with misspellings, transpositions, acronyms, nicknames, and many other errors, providing our customers better precision when approving or denying business partners."
"In today's market, lenders need to know with certainty that their third-party business partners are reputable, reliable, and of good character," stated Ann Fulmer, vice president of Interthinx. "This latest technology achievement by Interthinx leaves the fraudsters with even less room to hide."