AGOURA HILLS, CA -- 04/28/08 --
Interthinx, Inc., the leading provider of
proven risk mitigation, mortgage fraud prevention, and regulatory
compliance tools for the mortgage industry, has announced a new APR
calculator enhancement to its PredProtect loan-level regulatory compliance
solution. The enhancement gives Interthinx customers two options for
verifying the accuracy of their disclosures under the federal
Truth-In-Lending Act (TILA). Lenders may now choose APRWin from the Office
of Comptroller of Currency (OCC) or the new engine that validates payment
streams and creates printable amortization schedules. What's more, the
highly acclaimed PredProtect Worksheet has been redesigned with better
graphics to make compliance reviews even easier. With Interthinx-exclusive
Points & Fees Drilldowns(SM), the worksheet eliminates guesswork from
prepaid finance charge determinations under Reg. Z.
"In this ultra-tight market, inaccurate APR, finance charge, and payment
stream calculations cost lenders money as investors look for even the
smallest errors to force lenders to buy back bad loans. The new APR
calculator option within PredProtect eliminates TILA errors before the
loans are made," noted Roger Fendelman, Esq., vice president of compliance
for Interthinx.
"In developing the enhanced APR calculator, our goals were to provide
proven quality assurance and streamline processes with a product that is
easy to use," stated Stacey Louie, senior vice president of product
development and engineering for Interthinx. He continued, "The new
calculator is powered by Math Corporation's technologically advanced
zMath® loan calculation engine, and it supports virtually every loan
product in existence. In addition, it automatically interprets
company-specific fees and provides the flexibility to customize APR and
finance charge tolerances as needed. This new engine is fully contained in
the PredProtect system architecture, allowing for a seamless integration
that's nearly invisible to the end-user."
"Interthinx is committed to putting product enhancements such as the
PredProtect APR calculator on a fast-track because we understand how vital
it is to support the mortgage industry during these challenging times,"
added Kevin Coop, president of Interthinx. "As with other recent
enhancements to the PredProtect automated compliance system, the APR
calculator enhancement is provided at no cost to Interthinx customers."
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
