Title Insurance National Information Exchange, LLC
Stopping mortgage fraud and title insurance fraud through the cooperative use of internet technology.
In 2004 the FBI received reports of mortgage fraud losses totaling $429 million, up from $225 million in 2003. These frauds not only cost the title insurance and lending industries money, but they caused stress and financial losses to innocent victims who bought homes but did not get good title.
TINIX can significantly reduce mortgage fraud and title insurance fraud by combining internet technology with a collective spirit of determination among members of the title insurance and lending industries.
We do this by tracking pending transactions.
Our subscribers—settlement agents as well as lenders not working with title companies—register title orders, HELOCs, and other pending transactions on the TINIX.org website. Our computers then search for indicators of mortgage fraud such as two simultaneously pending title orders on the same parcel.
Our computers then alert the affected subscribers and provide contact information so you can investigate and stop mortgage fraud before the closing while there is still time!
Subscribers can save tens and hundreds of thousands of dollars, even millions of dollars, by reducing mortgage fraud.
All it takes is a few minutes to register each title transaction and a $30 fraud prevention fee charged to the borrower.
In the near future we will add additional features, including tracking fraudulent Identities and falsified appraisals.
For more information view our demo or read how Tinix works by clicking on the "Fighting Fraud" link below.
|© 2006, Title Insurance National Information Exchange, LLC, all rights reserved. |
TINIX is a trademark of the Title Insurance National Information Exchange, LLC. Patent pending.