AGOURA HILLS, CA -- 04/03/08 --
Interthinx, Inc., the leading provider of
proven risk mitigation and regulatory compliance tools for the mortgage
industry, has been selected by iFreedom Direct Corporation to perform
automated high cost and covered loan reviews during the loan origination
process. Interthinx was chosen to ensure loans are in compliance with
various consumer protection laws including all federal, state and local
anti-predatory lending requirements.
iFreedom Direct, a leader in the mortgage industry since 1985, provides
loans for purchase, refinance, and FHA/VA streamline -- from zero down
payment to low credit score loans. "We implemented Harland's Interlinq E3
loan origination system and did not want to write and maintain a loan
testing program. So we selected an Interthinx solution which is compliant
with all regulations and provides a seamless interface to our users,"
stated Becky Hersh, vice president of quality control for iFreedom.
"Interthinx was flexible and highly responsive to our various system
requirements. Their integration team also demonstrated extensive knowledge
of laws governing state and federal testing requirements, providing yet
another level of assurance during the integration process."
PredProtect(SM) from Interthinx is a feature-rich automated compliance
solution, updated with every federal, state and local predatory lending law
and many consumer loan laws. Within seconds, the system automatically
compares individual loan data to applicable laws, warning end-users of rate
and fee threshold violations, federal Truth-In-Lending Act violations,
state consumer loan laws failures, and much more.
"Many executives don't realize the extent to which compliance violations
impact profitability," added Roger Fendelman, Esq., vice president of
Compliance for Interthinx. "Throughout the greater part of this decade,
Interthinx has proven that the use of PredProtect dramatically reduces
exposure to costly loan buybacks, borrower reimbursements and license
examination failures, all of which are a drag on extremely tight profit
margins. The unique strength of PredProtect automation through the Harland
loan origination system lies in its ability to perform instant compliance
reviews on every loan without disrupting the origination process."
About Interthinx
Interthinx, Inc., an ISO business, is the nation's leading provider of
proven risk mitigation and regulatory compliance tools for the financial
services industry. Used at every point in the mortgage lifecycle to prevent
mortgage fraud, compliance violations and to assess risk, Interthinx is
relied upon by more than 1,100 customers, including 15 of the top 20
mortgage lenders and three of the top five largest financial institutions.
With technology that earned Mortgage Technology Magazine's prestigious 10X
Award as "a diagnostic and corrective solution of the highest order,"
Interthinx expertise in predictive analytics, data mining, and risk scoring
sets the standard for the industry and directly increases the value of
client portfolios. For more information, visit www.interthinx.com or call
(800) 333-4510.
About ISO
A leading source of information about risk, ISO provides data, analytics,
and decision-support services to professionals in many fields, including
insurance, finance, real estate, health services, government, human
resources, and risk management. Using advanced technologies to collect,
analyze, develop, and deliver information, ISO helps customers evaluate and
manage risk. The company draws on vast expertise in actuarial science,
insurance coverages, fire protection, fraud prevention, catastrophe and
weather risk, predictive modeling, data management, economic forecasting,
social and technological trends, and many other fields. To meet the needs
of diverse clients, ISO employs an experienced staff of business and
technical specialists, analysts, and certified professionals. In the United
States and around the world, ISO helps customers protect people, property,
and financial assets. For more information, visit www.iso.com.
Media Contact:
Ron Demeter
(213) 486-6560 x315
