FundingShield’s Adam Chaudhary was recently part of a Tech Demo at the Mortgage Innovators Conference detailing FundingShield’s WAVs and Guardian Service. [intense_video video_url=”https://youtu.be/4tuZC_Gk9hg?t=988″ show_badge=”0″ show_byline=”0″ show_portrait=”0″]
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HousingWire recently highlighted FundingShield’s analysis of Q2 2020 which showed a significant rise in fraud and risk exposures, as compared to Q1. Click here to read the entire article.
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Lenders need to safeguard their Ops and workflows from an epidemic rise in Wire/ Title Fraud, Risk and Compliance further exacerbated by the rise in work from home. FundingShield CEO Ike Suri shared their Q2-2020 analytics, “The risk of wire and title fraud in the closing and settlement space continues to grow due to fast moving changes in closing practices, Work-from-home and more due to COVID-19. Comparing Q1 vs Q2-2020 we saw an alarming increase in fraud/risk exposure in CPL errors/issues of nearly 50%, 530% increase in CPL/Agent validation errors with title insurers and nearly 135% increase in state licensing
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FundingShield is pleased to announce that Patricia Suazo has recently joined the team as the Vice President of Technology Operations and Integrations. Patricia brings more than 15 years of leadership experience in the mortgage lending space, previously working with firms including Stearns Lending, Bank of America, Carrington Holding Company & CloudVirga. Patricia specializes in software systems implementation, migrations, and integration. She has extensive knowledge and experience in digital platforms and automation. Patricia is a Certified Scrum Product Owner and her experience includes roles as IT Systems Product Manager, Lead and Sr. Business Systems Analyst for Digital Mortgage POS/LOS integrations, Business
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FundingShield provided HousingWire with an analysis of how COVID-19 and a shift to work from home provided the perfect recipe for increased fraud and errors in lending, click here to read more.
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Volly, an industry-leading provider of SaaS-based enterprise technology and marketing solutions for banks, credit unions and mortgage lenders, including CRM, Marketing Automation, Marketing Portal, Portfolio Retention, POS and Loan Officer Website solutions, announced that it has entered into an integration partnership with FundingShield, a market-leading provider of wire fraud prevention, mortgage compliance and risk management fintech solutions. This seamless integration allows lenders to utilize FundingShield’s wire fraud and settlement risk management technology through the Volly POS platform. Known as the Guardian Service, this technology provides a loan level certificate of assurance that confirms good settlement, valid CPL coverage, wire account
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The response to the novel Coronavirus in the mortgage industry has been justifiably rushed. Unfortunately, as lenders move quickly to ensure business continuity by moving to work from home (WFH) environments, vulnerability to bad actors has been amplified like never before. Wire fraud and regulatory compliance violations have risen by an additional 62% within the last 10 business days alone. It is crucial to take the necessary steps to prevent wire and title fraud with FundingShield’s fintech solutions- now more than ever. During this volatile time, leveraging an API driven digital strategy is paramount to success. FundingShield’s partnership with
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FundingShield is a fintech firm offering plug-and-play, scalable, cloud-based risk, compliance and fraud technology solutions to protect the mortgage, real estate, title, and legal industries from wire fraud, social engineering attempts, injection attacks and regulatory and compliance risk with third parties. Using its customized APIs, FundingShield provides actionable transaction-level intelligence. The company emphasizes clear communication and uses a binary pass/fail intelligence. $6 billion closings halted by clients or redirected More than $530 billion closing value monitored $90 billion flagged for closing deficiency or inconsistency
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By Sabrina Park Ike Suri and Adam Chaudhary of fintech firm, FundingShield, talk wire and title fraud prevention in the mortgage industryÔÇöa new target for hackers with sophisticated technology designed to sidestep internal fraud controls. Less than 6 months ago, we were having a conversation with a reverse mortgage lender who had personally experienced a fraudulent attack on a $200,000 wire transfer. The lost funds were never recovered. When you get right down to it, law enforcement can’t keep up with the rapid pace at which internet crime is rising. And with fraudulent reports increasing by 1,100%, the FBI has
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The below article has been pulled from CFO TECH OUTLOOKS article featuring Ike Suri, Chairman & CEO of FundingShield. Original article is available here
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