FraudGUARD® Module: Undisclosed Debt Monitoring™ powered by Equifax

Undisclosed debt is a leading cause of mortgage fraud and has

represented a large percentage of all lender repurchase demands. In

response, industry guidelines related to undisclosed debt continue to be

reinforced. Fannie Mae has required the verification of undisclosed debts

as part of their LQI (Loan Quality Initiative) guidelines, while Freddie Mac

has similar requirements as part of their Responsible Lending guidelines.

A Solution That’s “Always On” Undisclosed Debt Monitoring was developed by Equifax to provide lenders with in-depth monitoring of a borrower’s activity concerning tradelines, inquiries and secondary re-issues during the loan process. Lenders need more transparency into the credit activity of borrowers during the underwriting process – and supplemental “static” or “compare” reports are not the answer. Undisclosed Debt Monitoring, a proprietary Equifax platform, monitors the “quiet period” between the time of the original credit file pull and the closing of a loan. This module within FraudGUARD is “always on” – meaning borrower files are continuously monitored with daily alerts provided on activity that may represent potential risk.

Continuous monitoring of borrower(s) activity providing daily alerts on potential risk

Enhancement Facts

• Constantly monitors borrower activity, provides proactive alerts & notifications

• Data will be displayed in a dedicated Undisclosed Debt Monitoring page within FraudGUARD

• Analyzes Undisclosed Debt Monitoring data to provide an overall borrower risk score

Undisclosed Debt Monitoring™ in FraudGUARD® meets and exceeds new guidelines.

a service of

800.333.4510 | 818.871.1941 fx | interthinx.com | sales@interthinx.com

PRODUCT ENHANCEMENT

FraudGUARD® Module: Undisclosed Debt Monitoring powered by Equifax

FeaturesCustomized Email Notifications on Borrower(s) Activity• Ability to setup customized email notifications on import borrower activity

Streamlined Integration into FraudGUARD• Analyzes the Undisclosed Debt Monitoring data and provides an overall borrower risk score

• No need to integrate with multiple vendors – order and view results within FraudGUARD

Supports a Retro-active date to start monitoring• Ability to send a “look-back” date to FraudGUARD based on your process

One Report for all Borrower Related Information• Combines all borrower activity into one user friendly report

BenefitsNo More “Blind Spots”• More visibility into borrower activity that may suggest misrepresentation or undisclosed debt activity for better risk mitigation

Compliant with Fannie Mae’s LQI Requirements for Undisclosed Debts• Provides peace of mind by ensuring compliance with current requirements

Streamlined Underwriting and Quality Control Efforts• Focus valuable resources on loan files that represent a higher level of buyback risk

Increased Loan Delivery Confidence• Improve the confidence level of investors, mortgage insurers and regulators in your underwriting practices

Immediately Improve the Quality of Your New Vintages• Reduce the risk of fraud, the cost of non-compliance and potential repurchase

Frequently Asked QuestionsQ: Who should be monitored?A: Fannie Mae recommends that all borrowers should be monitored.

Q: What is the relationship between Interthinx and Equifax?A: Interthinx and Equifax have joined forces. Undisclosed Debt Monitoring was developed by Equifax to further streamline processes and increase operational efficiencies for lenders.

Q: How quickly will I be alerted to new activity?A: Customized email alerts can be setup based on your risk tolerance so that you are notified of borrower activity as soon as it happens.

Q: How will I be billed?A: The monthly invoice will be included as part of the existing invoice from Interthinx to streamline services for you.

Q: How can I start using Undisclosed Debt Monitoring in FraudGUARD?A: Contact your Interthinx Sales Representative.

i. If an existing relationship is in place with Equifax, a simple addendum is needed.

ii. If an existing relationship is not in place with Equifax, a contract will be needed and we can help.

Q: What information must I submit to receive Undisclosed Debt Monitoring data?A: Borrower SSN, Borrower Name and Borrower Address

For more information regarding the Undisclosed Debt Monitoring module within FraudGUARD, please contact your Sales Representative or Account Manager today.

Data Alerts • FraudGUARD user notified when alerts from Equifax are received• Integrated into FraudGUARD Score & Variances

Undisclosed Debt Alerts for Borrowers• Instantly find out if the borrower has: - A high value tradeline - A tradeline and/or inquiry in a certain industry type - High number of inquiries

Ongoing visibility into borrower activity eliminates “blind spots” for better risk mitigation

FraudGUARD variances identify new borrower activity

Ability to provide a Retro-active date to start monitoring

New in the FraudGUARD Report

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PRODUCT ENHANCEMENT

©2014 INTERTHINX, INC. All Rights Reserved. Interthinx, Inc. is a member of the First American family of companies. Interthinx, Inc. makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or ommissions. First American and the eagle logo are registered trademarks of First American Financial Corporation and/or its affiliate. Undisclosed Debt Monitoring is a registered trademark of Equifax. Equifax is a registered trademark of Equifax, Inc.