Interthinx Launches SAFE Act-Compliant Contract Underwriting Services for Mortgage Lenders
October 16, 2014, Agoura Hills, Calif.,
Interthinx, Inc., a subsidiary of First American Financial Corporation (NYSE: FAF) and a leading provider of comprehensive risk mitigation solutions for the financial services industry, today announced the launch of its Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act-compliant Contract Underwriting Services, a fully integrated, comprehensive service providing as-needed underwriting staff to augment or replace a mortgage lender’s existing underwriting resources. Engaging Interthinx SAFE Act-compliant Contract Underwriting Services allows mortgage lenders to respond with agility and confidence to market cycles, giving them the flexibility to staff up quickly, or to reduce staff as volumes dictate under a profit-friendly variable cost model.
Interthinx Contract Underwriting Services encompass:
- Outsourced front-line underwriting for conventional, jumbo and mortgage insurance (MI) product;
- Upfront layered risk assessment of credit, compliance, income, assets and collateral;
- A decision issued on each loan at origination, resulting in a clear-to-close, conditional approval, or declination;
- Condition clearing and remediation; and
- Direct communication between underwriters and brokers, loan officers and internal staff on loans in the pipeline.
"We are launching Interthinx Contract Underwriting Services in response to growing demand by mortgage lenders for a reliable partner in outsourced expert services," said Jeff Moyer, president, Interthinx. "For decades Interthinx has been focused on building its expertise in the mortgage process from a quality control, fraud and forensics perspective. Now, with SAFE Act-compliant underwriting resources at the ready, we are ideally positioned to assist directly in the loan manufacturing process."
Interthinx Contract Underwriting Services dedicates a highly qualified and experienced underwriting team to each client, ensuring its intimate familiarity with the lender’s processes, loan programs, tolerances, and sales personnel. All Interthinx underwriters have current front-line experience with agency underwriting and average five years of industry experience. In addition, Interthinx management services encompass hiring, training, and on-boarding team members.
The underwriting services can be performed directly within the lender’s loan origination systems, eliminating the need for costly and error-prone data transmissions. Teams are trained to manage the workflow, provide excellent customer service to loan officers and brokers, and have experience in all product types.
Interthinx, a subsidiary of First American Financial Corporation (NYSE: FAF), provides essential solutions to mitigate risk in the mortgage lending marketplace. Interthinx offers capabilities in mortgage fraud and verification, property valuation, compliance, quality control and loss mitigation that are used by the nation's top financial institutions. Interthinx helps its clients minimize risk, increase operational efficiencies, satisfy regulator demands, manage data verification and remain compliant. NMLS ID# 1121951. For more information, visit http://www.interthinx.com/ or call 1-800-333-4510.
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $5.0 billion in 2013, the company offers its products and services directly and through its agents throughout the United States and abroad. More information about the company can be found at www.firstam.com.