Digital Risk In The News

Digital Risk, MortgageFlex Systems Launch Next Generation Due Diligence Tools

New LOS Integration Provides Comprehensive Tools for Identity, Income, Occupancy and Collateral Authentication

Dallas, Texas (November 16, 2005) – Digital Risk LLC and MortgageFlex Inc. have announced a joint agreement to integrate Digital Risk’s Enterprise Verification System with LoanQuest, an industry-leading Loan Origination System from MortgageFlex.

The result will provide a next generation, one-stop risk mitigation solution to the mortgage lending industry.

The new application gives MortgageFlex lender/customers an automated solution integrated into their desktop loan processing systems, providing fast, accurate verification of personal identity, income, occupancy and collateral information.

“As the residential real estate business has expanded in recent years, so have fraudulent attacks on lenders, surpassing the ability of existing tools to defend against them,” said Lester Dominick, chairman/founder of MortgageFlex.

“This integration will give lenders unique access to fraud prevention and loss mitigation solutions,” Dominick added. The solutions include occupancy verification and instant income verification, as well as access to existing IRS and to Social Security Administration data.

Digital Risk’s Applicant Risk Profile Modeling is based on access to more than 150 million income-related data records held in public or private databases.

Jeffrey Taylor, chief executive officer of Digital Risk, noted that, “The consumer lending business has expanded in recent years and with it fraudulent attacks on lenders. Our solution is to offer unique identity, income collateral and occupancy data access. These solutions are customized to our clients' specific business needs and integrated with their Loan Origination Systems, enabling an efficient application workflow or via secured Web portal interface.

The Company’s tools enable lenders to accurately authenticate loan information, utilizing unique access to public, government, and private data sources.

Digital Risk is currently working with major federal and state agencies to provide real-time data access from existing and new government data sources. Its one-stop solution offers lenders and investors innovative tools for loan application due diligence that incorporates industry-standard data enhanced with unique additional data.