Newport Beach, CA (January 9, 2014) – Pelican Point Capital Partners, LLC., announced that it increased its ownership stake in FundingShield LLC, a financial technology firm focused on risk mitigation in mortgage closing protection letters (CPLs). Further Pelican Point Capital announces the appointment of its partner, Adam J. Chaudhary, as FundingShield’s CEO.
Pelican Point Capital views this investment as a strategic leveraged technology play in the mortgage finance space given FundingShield’s product set that provide verification of closing agents and the parties and processes to a closing in closing protection letters (CPLs). FundingShield’s products complement and in many cases greatly strengthen the internal control and compliance efforts of Mortgage lenders, banks, credit unions and other participants to a mortgage closing. This investment comes at a time of increased regulatory scrutiny and industry initiatives to further mitigate fraud in mortgage closings.
FundingShield LLC is based in West Palm Beach, FL with clients ranging from money center banks to regional, community banks and mortgage lenders. The new ownership and management team looks to leverage the scalable platform and talented team at FundingShield.
“As we continue to face increased regulatory, compliance and interest rate headwinds in the mortgage industry, there will be a greater need to ensure operational efficiencies as it relates to an entity’s loan origination systems. FundingShield brings an element of risk mitigation to that process,” said Shahid Quraishi, Co CEO and Co Founder of Pelican Point Capital Partners.
Further Information on FundingShield and Its products can be obtained by reaching out to Keith Nance at KNance@FundingShield.com.
Further information on Pelican Point Capital, its partners and advisory committee including bios for each, can be found at the Pelican Point Capital Partners website here.
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