Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Verisk Analytics    VRSK

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Verisk Analytics, Inc. : Interthinx 2011 Annual Report Sees Disturbing Rise in Employment/Income Mortgage Fraud Risk 

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/28/2012 | 04:15pm CEST

? Risk particularly high for investor loans for high-value properties ?

Interthinx has released its annual Mortgage Fraud Risk Report, which highlights some of the most significant mortgage fraud risk trends based on analysis of loan applications processed in 2011 by the Interthinx FraudGUARD® system. According to the annual report, the Employment/Income Fraud Risk Index rose 14 percent during 2011 and has been on an upward trend for more than two years for a total increase of more than 45 percent. The Employment/Income Fraud Risk Index is particularly high for investor loans with an index of 310, which is almost three times the overall index value of 111 and is highest for high-value properties.

More detailed points highlighted by Interthinx analysts include the following:

  • The fraud hot spots for 2011 are very similar to those observed in 2010. The top six states with the highest overall levels of mortgage fraud risk in 2010 were again the riskiest six states in 2011. Mortgage fraud risk remained consistent from 2010 to 2011 in the Metropolitan Statistical Areas (MSAs) as well, with 16 of the 20 riskiest MSAs repeated from the previous year. This alarming degree of persistence suggests that it is going to be a long road back for these MSAs and states. They are all experiencing high levels of foreclosure activity, and the predominant mortgage fraud schemes center on distressed borrowers and properties.
  • Nevada has the highest mortgage fraud risk in the nation, with a risk index value at 245, which is 99 points higher than the national mortgage fraud risk index of 146. Over the last eight years, Nevada has experienced a cycle of fraud leading to an artificial boom followed by a devastating bust resulting in the largest house price declines, unemployment rates, and foreclosure rates in the nation. High fraud risk, associated in particular with foreclosure and short sale schemes, contributed to Nevada retaining its position as the state with the highest mortgage fraud risk in the country for the third consecutive year.
  • The entire Chicago MSA saw a dramatic decrease in high-risk transactions in 2011, with its risk index value falling from 174 in the first quarter to 146 in the fourth quarter. Increased media and lender scrutiny of fraud in these geographies may have played a role in this dramatic change.
  • Five of the six New England states experienced large changes in fraud risk between 2010 and 2011. Rhode Island, Massachusetts, and New Hampshire are among the four states with the largest risk decreases, while Vermont and Connecticut both experienced large increases in fraud risk. This dichotomy could be caused by the movement of fraudsters between neighboring regions as they identify areas ripe for exploitation. Maine remained in the five lowest-risk states.
  • The rise in the Employment/Income Fraud Risk Index over the past two years is likely the result of the decline in house prices being outpaced by the decline in the income of working households combined with more stringent underwriting and documentation requirements.
  • Loan applications for investment properties continue to have very high fraud risk compared with owner-occupied properties.

"Keeping our guard up as risk profiles shift requires our industry to think as creatively as the criminals," said Kevin Coop, president of Interthinx. "That's only possible when lenders have access to the best data and analytics available. By identifying risky correlations, such as high employment/income fraud risk on loans to investors for high-value properties, or pinpointing geographic pockets of risk, we provide actionable intelligence that lenders can use to mitigate risk. I'm proud that our Mortgage Fraud Risk Report has become an essential tool for industrywide mortgage fraud risk mitigation efforts."

The full annual report at http://www.interthinx.com/pdf/11_MFRR_Annual_FNL.pdf is an Interthinx information product created by an internal team of fraud and analytics experts.

For more information about the Interthinx Mortgage Fraud Risk Report, visit http://www.Interthinx.com.

About Interthinx

Interthinx, a Verisk Analytics (Nasdaq:VRSK) subsidiary, is a leading national provider of comprehensive risk mitigation solutions focusing on mortgage fraud, collateral risk and valuation, regulatory compliance, forensic loan audit services, loss mitigation, and loss forecasting. With more than 20 years of experience in customizable risk evaluation technology, Interthinx offers proven and effective predictive analytics to the residential mortgage industry through its experience with millions of loan applications and fraud incident data from thousands of monthly loan reviews. Throughout the mortgage life cycle, the Interthinx suite of services can increase the value of client portfolios with its comprehensive and holistic approach to loan quality and compliance. Winner of multiple awards for technology, Interthinx helps clients reduce risk, increase operational efficiencies, satisfy regulator demands, manage data verification, remain compliant, and mitigate loan buybacks. The Interthinx quarterly Mortgage Fraud Risk Report is a standard for the financial services industry. For more information, visit www.interthinx.com or call 1-800-333-4510.

Interthinx
Rick Grant, 800-979-9049
Cell: 570-497-1026
[email protected]


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VERISK ANALYTICS
06/26 VERISK ANALYTICS : FDA request to remove Opana ER may be good news for WCMSAs
06/26 VERISK ANALYTICS : Property/Casualty Insurance Industry's Net Income Drops 42.2 ..
06/26 VERISK ANALYTICS : AIR Worldwide Announces Crop Hail Model for Canada
06/20 VERISK ANALYTICS : AIR Worldwide Releases Updated Earthquake Model for the Unite..
06/19 VERISK ANALYTICS : Smartphone technology facilitating customer collaboration wit..
06/19 VERISK ANALYTICS : AIR Worldwide Releases Updated Earthquake Model for the Unite..
06/17 VERISK ANALYTICS : Nordea Investment Management AB Raises Stake in Verisk Analyt..
06/16 VERISK ANALYTICS : New Jersey proof-of-insurance requirements
06/16 VERISK ANALYTICS : Court Blocks Medicare Discovery Requests – Ruling limit..
06/07 VERISK ANALYTICS : ISO ClaimSearch Accelerator Receives Ready for Guidewire Desi..
More news
Sector news : Technology Consulting & Outsourcing Services
12:22a Banks' blockchain consortium picks IBM for trade finance platform
06/26 Apple, Cisco team up to push for cyber security insurance discounts
06/26 EU court seen ruling on Intel antitrust case next year - judge
06/23DJINFOSYS : Settles Visa Case With New York
06/15 Messaging startup Slack said to draw interest from Amazon - Bloomberg
More sector news : Technology Consulting & Outsourcing Services
News from SeekingAlpha
06/08 Verisk Analytics (VRSK) Presents At Baird's Global Consumer, Technology & Ser..
05/30 Tracking Charles Akre's Akre Capital Management Portfolio - Q1 2017 Update
05/23 Verisk Analytics Acquires MAKE For Wind And Solar Research
05/16 Tracking Warren Buffett's Berkshire Hathaway Portfolio - Q1 2017 Update
05/10 Tracking The Parnassus Core Equity Fund - Q1 2017 Update
Advertisement
Financials ($)
Sales 2017 2 083 M
EBIT 2017 821 M
Net income 2017 471 M
Debt 2017 1 756 M
Yield 2017 -
P/E ratio 2017 30,16
P/E ratio 2018 27,05
EV / Sales 2017 7,45x
EV / Sales 2018 6,77x
Capitalization 13 753 M
More Financials
Chart VERISK ANALYTICS
Duration : Period :
Verisk Analytics Technical Analysis Chart | VRSK | US92345Y1064 | 4-Traders
Full-screen chart
Technical analysis trends VERISK ANALYTICS
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 84,2 $
Spread / Average Target 1,2%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Scott G. Stephenson Chairman, President & Chief Executive Officer
Mark V. Anquillare Chief Operating Officer & Executive Vice President
Eva F. Huston Chief Financial Officer & Senior Vice President
Nicholas Daffan Chief Information Officer & Senior Vice President
J. Hyatt Brown Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
VERISK ANALYTICS2.48%13 617
INTERNATIONAL BUSINESS..-7.16%144 786
SAMSUNG SDS CO LTD--.--%11 875
OTSUKA CORPORATION31.38%6 076
DHC SOFTWARE CO., LTD--.--%4 796
CONDUENT INC0.00%3 374
More Results