Archives for News Letters

CEO Ike Suri’s Spotlight article with California MBA

November 15, 2020 | by | No Comments

FundingShield provides FinTech B2B & B2B2C solutions that deliver transaction level coverage against wire & title fraud, settlement risk, closing agent compliance & cyber threats while reducing operating costs and improving asset quality. The solutions are user-centric plug’n’play tools that are scalable, pay-per-loan, secure, cloud-based and integrate easily through APIs driving ROIs greater than 200%. Clients in turn are able to confirm data integrity, confirmation that 3rd party interference and data breaches are not impacting their closings and can lower their operating costs. Lenders who use FundingShield are able to achieve compliance, risk management and operational efficiencies while creating secure
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Categories: Media, News Letters, Press, and Press Releases.

President Adam J. Chaudhary presenting FundingShield at #NEXTDC20

November 13, 2020 | by | No Comments

FundingShield offers FinTech B2B & B2B2C solutions that deliver transaction-level coverage against wire & title fraud, settlement risk, closing agent compliance & cyber threats while reducing operating costs and improving asset quality. User-centric Plug’n’Play tools that are scalable, pay-per-loan, secure, cloud-based, and integrate easily through APIs driving ROIs greater than 200%. View More
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Categories: Media, News Letters, Press, and Press Releases.

President Adam J. Chaudhary at HousingWire’s Demo Day

October 9, 2020 | by | No Comments

Adam J. Chaudhary President, FundingShield discussing Wire Fraud Prevention on HousingWire’s Demo Day. FundingShield Wire fraud prevention collaboration platform brings participants to know about our API driven services for mortgage and title fraud prevention allow lenders, investors, homebuyers, and title companies to confirm wired funds are going to intended recipients and transactions that are free of impact from cyber fraud, phishing, business email compromise, or title fraud.
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Categories: News Letters, Press, and Press Releases.

CEO Ike Suri Discusses how to create a safe, secure and seamless homebuying experience for customers

September 24, 2020 | by | No Comments

FundingShield’s CEO Mr. Ike Suri on how top minds in today’s industry provide borrowers a safe, secure, and seamless homebuying experience. Specifically, discover the innovative wire fraud prevention solutions that are available to today’s lenders powered by the partnership of Ellie Mae and Volly. Click here to watch the video.
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Categories: Media, News Letters, and Press.

300% increase in settlement agent defalcations, theft of funds & misapplication of fund by closing agent YTD

February 15, 2019 | by | Comments Off on 300% increase in settlement agent defalcations, theft of funds & misapplication of fund by closing agent YTD

With market challenges and lower volumes we are seeing an increase in defalcations in the market. Protect your funds on every loan with up to $5mm of coverage using our FinTech tools at FundingShield.
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Categories: News Letters and Uncategorized.

Fundingshield reports ~$75 million per day in wire and closing fraud exposure

October 16, 2018 | by | Comments Off on Fundingshield reports ~$75 million per day in wire and closing fraud exposure

Fundingshield reports an estimated $75 million per day in wire and closing fraud exposure. This would equate to exposure of ~$20 Billion in 2018.   This report leverages Fundingshield’s industry-leading proprietary software, analytics and transaction database of wire account information and transaction closing history. Furthermore, this projection is specific to lender wire and closing fraud attempts, and does not capture the much higher volume of wire fraud attempts against consumers in housing transactions.  Wire and closing fraud victims overwhelmingly underreport losses because of reputational risk concerns.   As Fundingshield has shared previously, Cyber criminals use crawlers, also known as software bots, with redundant schemes
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Categories: News Letters and Press.
Tags: BEC, Business Email Compromise, Compliance, Crime, Cyber, FBI, Fintech, Fraud, lending, losses, Mortgage, Risk, Security, wire, and Wire Fraud.

Fundingshield reports an estimated $3 Billion in wire and closing fraud attempts in the first 4 months of 2018

June 5, 2018 | by | 2 Comments

Fundingshield reports an estimated $3 Billion in wire and closing fraud attempts in the first 4 months of 2018, triple the $1 billion reported to the FBI for all real estate related wire fraud losses for the first 9 months of 2017. This report leverages Fundingshield’s industry-leading proprietary software, analytics and transaction database of wire account information and transaction closing history. Furthermore, this projection is specific to lender wire and closing fraud attempts, and does not capture the much higher volume of wire fraud attempts against consumers in housing transactions.  Wire and closing fraud victims overwhelmingly underreport losses because of reputational risk concerns. “The rising fraud attempts come while lenders expand their efforts
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Categories: News Letters and Press.
Tags: Bank, CMBA, Cyber, Fannie Mae, Fintech, FNMA, Fraud, Freddie Mac, Fundingshield, Hackers, IBM, MBA, Mortgage, Risk, Secure, wire, and Wire Fraud.

FS Newsletter 123: Mortgage “Purchase Market” Drives Closing Agent Stress

March 13, 2018 | by | No Comments

The current “purchase mortgage” market is causing mortgage banks across the country to re-examine their in-house closing party review processes as they have less control of closing agent selection. Additionally, this adds stress operationally and increases risk through closing agent review, compliance, risk management and wire fraud prevention if not actively utilized and deployed at the loan transaction level.    Mortgage Participants: All Mortgage lenders doing purchase (non-refinance) transactions & any lender that cannot force the use of its preferred closing agents across all closings. Investors or Warehouse lenders concerned about closing agent controls. Problem: The purchase market is causing
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Categories: News Letters and Press.
Tags: Agents, Bank, Closing, Fraud, insurance, lender, licensing, loan, Mortgage, Risk, Title, vendor, and wire.