Newport Beach, CA (July 17, 2017) – Fundingshield, LLC., is pleased to announce the mortgage risk, information security and technology veteran, William Klumper, has joined its advisory board.
William’s career has focused on driving best practices and technological innovation for the mortgage industry in the information security, risk and technology forums. He currently serves as the Chief Information Officer of First Mortgage Company LLC in Nebraska where he also assumed the Chief Security Officer & Chief Privacy Officer roles facilitating governance and controls during the firms rapid growth. He currently has several Mortgage Industry wide leadership roles including MISMO where he is Vice-Chairman of Residential Governance and Residential Governance Committee Member elected lender representative and Co-Chair of the Council of Chairs. Further, he is an active participant and thought leader in the MBA CIO & MBA Residential Technology Forums. William was invited to join the Michigan Financial Industry Cyber Council (MIFICC) where he has drafted a significant portion of the legal framework including their intellectual property and antitrust statements. He is a licensed attorney with the state of Nebraska and a proud, retired member of the United States Army Reserves where he held the rank of Major in the Transportation Corps.
FundingShield’s Chairman & CEO Ike Suri said, “William’s extensive background & efforts to create a more secure operating environment make him a natural fit with our efforts on working to develop an industry standards for information security surrounding wire verifications, settlement risk management and closing protection letter conformity. William sees our service value relative to the market’s need to combat heightened cyber-based risks to mortgage settlements and settlement parties. We look forward to working with him on bringing Fundingshield into the best practices arena so the entire industry can benefit from the services as our clients have.”
FundingShield verifies the 3rd parties (closing agents, closing attorneys, title companies and their associated bank information) to each transaction and verifies the documents that support the Closing Protection Letters (CPLs) to afford lenders proper protections in the event of a defalcation or wire swap attempts. The firm has added additional services that conduct rapid bulk wire verifications and fraud checks leveraging their industry leading datasets, risk algorithms and fraud risk teams to make better funding decisions in tighter time-frames. Further the firm has the industry’s most robust third party service provider compliance management system that takes vendor management to new heights allowing for users to define requirements by vendor type and then control the use of approved entities throughout the enterprise. The system is a live environment where vendors provide all data and the system allows for streamlined reporting, wire account verifications, controlled access for regulators, TPOs, Warehouse lenders/funding counterparties and operational teams.
William Klumper shared, “I look forward to working with the management and ownership of Fundingshield to contribute and share ideas to further assist in their market leading approach to solving the growing problem around wire account and funding security. I am excited to see an industry leading tool which reinforces and exceeds the security and safety standards which protects the borrower,seller and the industry. I look forward to helping in the furtherance of their industry collaboration efforts within the Mortgage and Financial Industry.