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Banks Get Break on Fraud Prevention Technology

Interthinx announces deal with American Bankers Association unit

Oct. 8, 2010

A group of banks are being offered special rates for access to technology that helps prevent mortgage fraud.



 

PRESS RELEASE


ABA AND INTERTHINX ENTER AGREEMENT FOR RESIDENTIAL MORTGAGE RISK MITIGATION TOOLS


 
WASHINGTON -- Business Solutions, a subsidiary of the American Bankers Association, has selected Interthinx to offer member banks critical end-to-end risk mitigation at advantaged pricing. Interthinx is a leading national provider of automated fraud protection, regulatory compliance, income verification, and decision-support tools for the mortgage industry.

“Mortgage fraud is a growing concern,” said William Kroll, president of Business Solutions. “Proper fraud prevention measures are essential. Our new relationship with Interthinx will help ABA members thwart scam artists, staying one step ahead of the ever-changing mortgage lending environment.”

“We’re very enthusiastic about teaming with the ABA and providing its members with proven automated tools and services at member rates to help improve loan quality,” said Kevin Coop, president of Interthinx. “There’s never been a greater need for technology to support production workflow for lenders, and Interthinx is proud to offer ABA members a complete suite of tools to help reduce risk and streamline processes.”

Interthinx, a Verisk Analytics company, is a national provider of comprehensive risk mitigation solutions that utilize a powerful combination of industry experience and cutting-edge technology to help banks make safe, efficient residential mortgage lending decisions. This is achieved through the use of state-of-the-art electronic loan-level fraud detection solutions; accurate, easy-to-use, comprehensive real-time compliance checks; identity verification solutions; and more.

About American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its two million employees. Learn more at aba.com.

About Interthinx
Interthinx, a Verisk Analytics subsidiary, is a leading national provider of comprehensive risk mitigation solutions in the areas of mortgage fraud, collateral valuation, regulatory compliance, audit services, and loss forecasting. The Interthinx quarterly Mortgage Fraud Risk Report is a standard for the financial services industry and includes analysis of national mortgage fraud risk with indices for the most common types of risk. At every point in the mortgage life cycle, the Interthinx suite of services can directly increase the value of client portfolios. Winner of Mortgage Technology magazine’s 10X Award, Interthinx is a charter participant in the national fraud prevention database MERS® FraudALERT, a powerful utility that allows members of the mortgage industry to share data while maintaining privacy in a secure environment. For more information, visit www.interthinx.com


ABA Media Contact: John Hall
(202) 663-5473
E-mail: jhall@aba.com

Interthinx Contact: Kristi Kennelly
(818) 878-2844
E-mail: kkennelly@interthinx.com
 
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