Interthinx has partnered with Collateral Analytics to launch an automated appraisal, collateral evaluation and mortgage origination compliance risk assessment tool.
"Risk Profiler" analyzes public and proprietary data to independently assess appraisals and broker price opinions. It also gives mortgage lenders, servicers, insurers and investors the option to bundle the service with FraudGUARD to generate an automated analysis of credit and collateral evaluation.
"We are excited to be working with Interthinx to expand the use of our Risk Profiler technology," said Michael Sklarz, chairman and chief executive officer, Collateral Analytics. When powered by Collateral Analytics the Risk Profiler tool allows mortgage originators to use an automated valuation model to analyze neighborhood trends and local market data.
In addition to evaluating collateral risk and valuation data Risk Profiler uses a single rules engine to support industrywide collateral risk protocol, such as the Uniform Appraisal Dataset applications, and rating vendor and appraiser performance.
"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, a subsidiary of First American Financial Corp.
A major benefit is that it can be incorporated into the origination process, "pulling the entire pipeline through will highlight risk, satisfy compliance and lower costs," she said.
