|Mortgage risk mitigation solution offered|
October 8 was the go-live date for FraudGUARD Evolution by Interthinx, featuring increased operational speed, further workflow efficiency, and improved usability for mortgage lenders and investors.
With FraudGUARD Evolution, customers have access to the new dashboard and an enhanced alert model that categorizes and consolidates variances, allowing clients to identify the primary risk of a mortgage loan quickly and accurately. The new technology, which enhances user-experience by improving review times, is now available for demonstration.
"Lenders today feel a pressing need not only to integrate automated risk management systems but also to ensure that the systems prove to be robust, efficient, and easily navigable for the end user," says Jim Portner, vice president of product for origination solutions at Interthinx. The FraudGUARD Evolution release complements the Interthinx system by delivering features designed to eliminate redundancy; reduce loan underwriting time; and recognize borrower, participant, and property valuation risk swiftly."
FraudGUARD is a customizable, automated web-based tool that identifies risk and potential fraud in mortgage loans by using public, private, and proprietary data sources. It enables prefunding file review of borrower, collateral, and third-party information to help lenders clearly identify problematic loans and remain compliant. Emulating the most current fraud tactics based on massive Interthinx investigations and quality control reviews, specific models and search algorithms are deployed to identify patterns and commonalities across data sets to fill information gaps and update FraudGUARD scoring systems.
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