Insurance Services Office Inc., the Jersey City parent of Interthinx, has acquired the assets of Domus Systems Inc., a Beverly Hills provider of compliance and reporting technology for the affordable-housing sector.
Interthinx offers fraud detection and compliance technology to the mortgage industry. The Agoura Hills, Calif., unit was formed last year after ISO acquired two top providers of fraud protection, Sysdome Inc. and AppIntelligence Inc.
The purchase was announced Thursday. Interthinx did not say how much ISO paid for the Domus assets, which have been added to its domain.
Entities that buy, build, or manage government-subsidized properties for low-income and other disadvantaged people, as well as the government agencies running such programs, use Domus' flagship product, the Domus System, to collect, maintain, and report on resident and property data.
It is the "only program that addresses all of the reporting requirements" of the Department of Housing and Urban Development, Interthinx said. It also "includes reporting capabilities for Section 8, people living with HIV/AIDS, senior disadvantages, homeless," and similar programs.
Mike Zwerner, Interthinx's vice president of business development and marketing, said in an interview the purchase, which was outside its residential mortgage focus, was made to pair his unit's fraud-fighting expertise with what Domus offered the affordable-housing industry, where there is "a great need … for tools like we have."
More acquisitions to support Interthinx's growth are possible, he said, as "we are looking at other sister spaces where we could kind of port our tools over," as well, "to make our solutions more robust for our current clients."
