Interthinx Inc., a provider of risk mitigation solutions for the financial services industry, has partnered with Collateral Analytics to launch Risk Profiler, an automated appraisal review and collateral evaluation tool developed to support collateral risk assessment and to address today’s compliance-intensive origination environment.
Available through Interthinx’s proprietary fraud detection tool, FraudGUARD, Risk Profiler analyzes public and proprietary data to independently score appraisals and Broker Price Opinions (BPOs) for transactional risk, collateral risk and value confidence. This provides mortgage lenders, servicers, insurers and investors a method to make better-informed, property-related decisions.
“From a risk management perspective, our industry has been in need of improved collateral risk evaluation solutions. Driven by increased compliance requirements and added downstream scrutiny, the need for enhanced automated assessment is front and center for our clients,” Interthinx President Jeff Moyer said. “Risk Profiler brings efficiency, economy and consistency to the appraisal review process, qualities that are fundamental to collateral risk management and critical to our clients’ success.”
Leveraging analytics intelligence, a comprehensive automated valuation model (AVM), neighborhood trends and local market data, Risk Profiler analyzes the critical elements of valuation to test the conclusion and determine whether supporting data is reasonable. Risk Profiler was developed to meet specific mortgage origination processes and productivity demands, while ensuring that compliance mandates are satisfied.
“We are excited to be working with Interthinx to expand the use of our Risk Profiler technology,” Collateral Analytics CEO Michael Sklarz said. “Interthinx has a great reputation in the industry as a technology leader, which made them a trusted choice for distribution.”
In addition to evaluating collateral risk and verifying the reliability of the valuation product, Risk Profiler supports collateral risk protocol industry-wide. Monitoring of the application of the Uniform Appraisal Dataset (UAD) is native to Risk Profiler, not a bolt-on capability. Its ranking metrics and data assessment logic allow users to rate vendor performance, providing a quantitative method for rating appraisers. Applying a single rules engine ensures objective and consistent results.
“Risk Profiler has been developed to evaluate critical data and identify risk, so human intervention is only required for appraisals that fail to pass standards,” said Ashley Woodworth, senior vice president of product and marketing at Interthinx. “When Risk Profiler is incorporated as an integral part of an origination process, pulling the entire pipeline through will highlight risk, satisfy compliance and lower costs.”