Stay Ahead Of The Fraud Curve

*Stay Ahead Of The Fraud Curve*
**By Tony Garritano**

***Mortgage fraudsters are always evolving. As a result, lenders need to stay on their toes. To this end, Interthinx has announced October 8, 2012, as the “go live” date for FraudGUARD Evolution, advanced technology enhancements to FraudGUARD designed to increase operational speed, further workflow efficiency, and improve usability for mortgage lenders and investors. Here’s why this matters to lenders:

****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 significantly affects user-experience by vastly improving review times, is now available for demonstration. Interthinx is taking appointments for the Mortgage Bankers Association’s 99th Annual Convention & Expo scheduled for October 21 through October 24 at the Hyatt Regency in Chicago, Illinois.

****“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,” said Jim Portner, vice president of product for origination solutions at Interthinx. “A deficiency in any of these components can leave lenders and investors nonproficient and, worse yet, vulnerable. The FraudGUARD Evolution release complements the comprehensive 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 quickly deployed to identify patterns and commonalities across extensive data sets to fill information gaps and update FraudGUARD scoring systems. Guidance and direct input from mortgage fraud experts with more than 350 years of combined experience are woven into the learned-behavior technology. FraudGUARD increases operational efficiencies and time savings through process and workflow automation, data aggregation, and risk analysis.