home mortgage fraud newsletter full stories advertise mortgage industry newsletter RSS about us
 
HOT Topics Fraud Resources Fraud Prevention Mortgage Litigation News Appraisal News

Sign Up for Free Mortgage Fraud Newsletter


 
 
twitter linkedin
facebook google+
Mortgage News

Search
Search mortgage fraud news by keyword.

Mortgage Fraud News
News, analysis and statistics about mortgage fraud.

Local Mortgage Fraud
Stories about individual mortgage crime cases.

Mortgage Fraud Statistics
Statics by year about real estate fraud.

Mortgage Fraud Index
Quarterly index based on case activity.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage Fraud Feedget RSS code
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.

Mortgage Fraud Archives
Archive of FraudBlogger.com entries going back to 2005.

 

PRESS RELEASE


FraudGUARD Officially Launched

Interthinx(TM) Unveils Most Comprehensive Fraud Prevention Tool to Date
- FraudGUARD(R) Draws from Largest Database of Loan Information to Spot Fraud Patterns


 
AGOURA HILLS, Calif. -- (Sept. 25, 2006) Interthinx(TM), the leading provider of comprehensive fraud prevention, compliance and decision support tools for the mortgage industry and an ISO business, is proud to announce its next generation loan-level fraud detection solution for lenders and investors: FraudGUARD®. By utilizing FraudGUARD, lenders and investors can significantly reduce loss due to fraudulent transactions, increase pull through rates, process more loans with less resources and improve loan quality.

"Today's fraudsters are attacking on multiple fronts. Simply considering components of a loan is neither enough nor is it complete protection," said Kevin Coop, president of Interthinx. "FraudGUARD uncovers the entire fraud scheme because it uses a holistic approach to fraud detection. By combining the 'best practices' of system and application intelligence with Interthinx's 10-plus years of experience in fraud detection, FraudGUARD analyzes an entire loan file to flush out fraud in every aspect of the loan application process. FraudGUARD is truly the most comprehensive fraud detection weapon on the market to protect lender and investor assets."

FraudGUARD is powered by FraudNet(SM), a network of data, pattern matching analytics and industry experience that provides fraud prevention solutions to the mortgage industry. Using this technology, FraudGUARD is able to uncover fraud by comparing loan application information with data pulled from the proprietary Interthinx National Fraud Protection Database (NFPD), aggregated 1003 (application) data spanning over 10 years, third- party data, and internal shared data. The data is then analyzed using a pattern-matching system designed to emulate the most current fraud tactics. The system employs models and search algorithms to spot patterns and commonalities between the loan information and previous instances of loan fraud.

"FraudGUARD is the most comprehensive and progressive risk evaluation tool on the market today," said David Subar, chief information officer of Interthinx. "Because Interthinx is the largest aggregator of application data in the industry, we can provide data/results that simply aren't available anywhere else in the market place. Effective fraud detection requires a study in pattern identification, which is a function of identifying, isolating and tracking data. History of multiple loans, both valid and fraudulent, is imperative to compare a submitted loan both to data and heuristics (related 'rules of thumb'). FraudGUARD encompasses ample and diverse historical application data, deeming it not only authentically practical, but powerful."

"The release of FraudGUARD is a huge step forward in completely eliminating fraud from the mortgage industry," added Coop.

Key Benefits to FraudGUARD:
  • Can be applied to a single loan or to a pool of loans
  • Can review 100% of loans for fraudulent activity including identity, collateral risk and data integrity
  • Provide expert scoring based on rules and artificial intelligence
  • Only collateral risk tool that calculates 1003 data, neighborhood and property analysis
  • Is easily accessible and defined exposure
  • Includes forensic tools such as maps, graphs and chain of title
  • Delivers rapid delivery of accurate default/foreclosure propensity and flip risk
  • Combines borrower, property and loan participant components instantly
  • Processes individual loan files in seconds
  • Eliminates or reduces other origination, verification or AVM costs
  • Customizes suggested "actions" for resolution according to customer/investor policies
  • Easily integrates into most Loan Originations Systems (LOS)
  • Provides output data that can be as concise or as detailed as desired



SOURCE: Interthinx

 
Mortgage Fraud Litigation

Q4-2012 | Q3-2012
Q2-2012 | Q1-2012

Q4-2011 | Q3-2011
Q2-2011 | Q1-2011

Q4-2010 | Q3-2010
Q2-2010 | Q1-2010

Q4-2009 | Q3-2009
Q2-2009 | Q1-2009

Q4-2008 | Q3-2008
Q2-2008 | Q1-2008

full-year 2007
Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
The Mortgage Graveyard
Reverse Mortgage Blog
Mortgage Compliance Newsletter
Free compliance newsletter from MortgageDaily.com.



Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan officer compensation rule

loan originator compensation rule

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

sales blog

reverse mortgage news

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news