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| [May 11, 2006] |
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Interthinx(TM) and the Mortgage Industry Collaborate to Create Fraud Prevention Training Tool; Video Content Offers ''Edutainment'' Approach Through Parody of Crime Investigation TV Series
CALABASAS, Calif. --(Business Wire)-- May 11, 2006 -- Interthinx(TM) and leading mortgage professionals have teamed up across competitive boundaries to develop a fraud prevention training video that will help the industry thwart the expansion of mortgage fraud schemes nationwide. The FBI recently warned that mortgage fraud "has the potential to be an epidemic" that "could have as much impact as the Savings and Loan crisis."
In April, representatives of a cross section of mortgage lenders convened in a southern California location to film their portrayal of characters in FSI(SM): Fraud Scheme Investigation, a project sponsored by Interthinx(TM), a provider of comprehensive fraud prevention and decision support tools for the mortgage industry, and RADAR Multimedia, an award winning branded entertainment production company. Principal photography has wrapped, and the project is now in its post production phase.
Interthinx, a unit of ISO, will make the video available for general distribution in September 2006. The training video will reflect the compelling storyline, style and parody of a popular primetime television series to demonstrate the characteristics and "red flags" of a complicated property flipping scheme. FSI is loosely based on actual events.
Industry experts agree that delivering effective training content to production and deadline oriented mortgage professionals has been an impediment to executing on effective fraud prevention strategies. As a public service to the mortgage industry, the FSI project adopted an "edutainment" approach that combines education and entertainment to achieve maximum adult learning retention.
"I have a very experienced staff, and have begun the process of selection/hiring to replace members of this experienced staff for future retirement," said Mike Stuckey, Director of Real Estate Underwriting for American General and role of "Deputy Clarkson" in FSI. "FSI will provide an entertaining but serious piece to show less experienced people that the best defense against mortgage fraud is a well trained human eye, personal integrity and use of the right automated technology for your company. I look forward to FSI's release, its messages and the gains it will provide in our training program."
"Clearly, automated technology and training are key to stemming mortgage fraud at origination," said Rachel Dollar, Dollar Law Firm, founder of MortgageFraudblog.com and a Story Consultant on FSI. "The FSI training video project is on target in providing educational training materials that 'stick' in the minds of mortgage professionals and their employees and provides a true service to the industry. This approach to training enables the mortgage industry to stay one step ahead of fraudsters' schemes. By creating a training tool in a style that absolutely encapsulates drama, parody and urgency, viewers are immediately engaged, intrigued and willing to participate."
The completed FSI training video will premiere at Mortgage Bankers Association (MBA) Quality Assurance Conference in September 2006. More information about the video production and instructions for ordering the final free product can be found at http://www.fsimovie.com/.
About Interthinx
Interthinx, a unit of ISO, is the nation's leading provider of automated fraud protection 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 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, mortgage analytics, 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.
About RADAR Multimedia
RADAR is an award-winning branded entertainment production company that invents new & creative ways to communicate corporate messaging and training via audio, video, web & print. RADAR's boutique creative approach delivers Fortune 500 results for organizations across the country and around the world. A portion of their client list includes Interthinx(TM), Sutherland Design Agency, Children's Hunger Fund, CAI, ITT, Alpine Pictures, UniCare, Jafra Cosmetics, ADI, SDPA, The HAND Company, Face Time Productions and CarCrazyCentral.com.
RADAR's unique offerings include: SalesCinema(TM), BrandLaunch, EventLaunch and Premiere Productions. Its services also include writing & producing videos, handling all aspects of post production as well as the design & authoring of DVD's. Other offerings include: Website creation and management, interactive presentations and on-site highlight videos for events, production of event experiences and webisodes as well as event media, content for kiosks and short films. For more information, please visit www.GoRADAR.net
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