Flagstar Bank Integrates Interthinx(TM) DISSCO(TM) and ValVerify(SM) as Front End Fraud Detection and Prevention System; System Enhances Fraud Detection and Streamlines Underwriting Process

AGOURA HILLS, Calif.--Flagstar Bank, a leading mortgage lender and national leader in the wholesale mortgage business, has integrated fraud prevention tools from Interthinx(TM), the leading provider of comprehensive fraud prevention and decision support tools for the mortgage industry and an ISO business. Interthinx products DISSCO(TM) and ValVerify(SM) will serve as the leading components of the Flagstar Bank mortgage fraud prevention system.

"Integrating the DISSCO and ValVerify fraud detection tools moves us closer to our goal of providing an ultra fast underwriting decision while simultaneously enhancing our fraud detection capabilities," said Marni Scott, senior vice president of underwriting at Flagstar Bancorp. "The integration allows us to seamlessly capture the DISSCO and Value Verify red flag alerts and data directly into our system at the time underwriters are reviewing the loan files. That helps us streamline the overall process of ensuring a quality loan. Plus, for our wholesale customers, Flagstar now offers additional protection from fraudulent transactions and the repurchase risk associated with fraudulent transactions," Scott said.

DISSCO is an electronic fraud-prevention tool designed to reduce the risk associated with mortgage lending due to fraud. It can instantly search hundreds of mortgage-related data fields in a loan record to identify and score the kinds of misinformation, inaccuracies and inconsistencies that could signal fraud. DISSCO then produces a detailed report with step-by-step recommendations for lenders on how to respond. ValVerify utilizes the most comprehensive data set in the industry, including property characteristics, borrower data, employer information and other critical elements to produce a reliable and comprehensive property score for valuation and flip analysis.

"Flagstar is an outstanding example of how the mortgage industry is poised to unravel fraud schemes by empowering all participants to identify and respond to red flags produced by automated fraud detection," said Kevin Coop, president of Interthinx. "Combining DISSCO and ValVerify as an integrated value solution enables Flagstar to help its lenders protect themselves by reconfirming a property's collateral value and its risk potential."

About Flagstar Bancorp

Flagstar Bancorp, which has $15.2 billion in total assets, is the largest publicly held savings bank headquartered in the Midwest. Flagstar operates 146 banking centers throughout southern Michigan, Indiana and Georgia. Flagstar also operates home loan centers across the country. Flagstar Bank is one of the nation's leading originators of residential mortgage loans. For more information, please visit www.flagstar.com.

About Interthinx

Interthinx is the nation's leading provider of automated fraud protection, compliance and decision support tools for the mortgage industry. Used by 15 of the top 20 lenders, Interthinx combines its National Fraud Protection Database (NFPD) along with advanced technology and data collection to offer the most comprehensive fraud detection system available. Interthinx helps to bridge the gaps left by traditional manual fraud detection by enabling the increase of front-end efficiencies while improving quality control and profitability. Its multi-faceted approach to risk management includes innovative training programs designed for greater retention and immediate results. More than 1100 customers rely on Interthinx, an ISO business, for automated scientifically-based solutions, historical analysis and consistent data collection. For more information, visit www.interthinx.com or call 800-333-4510.

About ISO

ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO services help customers protect people, property and financial assets. For more information, please visit www.iso.com.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.