FundingShield provides live data protecting for transactions to vet, verify and validate each counterparty to compliantly prevent wire fraud loss and misrepresentations.
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Please read the editorial by our CEO Ike Suri in the April 2019 edition of the Mortgage Compliance Magazine titled “Cognitive FinTech Solutions to Combat Wire Fraud & Risk” discussing how FundingShield’s automated, tech driven products and APIs can be seamlessly incorporated to reduce risk, increase margins and prevent fraud. “…Our firm has API tool kits, currently going through Ellie Mae integration, first Mortgage Tech IBM strategic partner on IBM Cloud. Our B2B and B2C solutions address the top 3 initiatives at all clients – 1.cut down operating costs 2. eliminate risk and 3. provide insurance against loan losses during
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FundingShield joins IBM Cloud as IBM’s first MortgageTech partner delivering API based solutions driving innovation to the financial services space. MortgageTech – Wire fraud prevention firm FundingShield works with IBM Cloud for Financial Services to bring cloud based, plug ’n’ play FinTech tools for fraud prevention, risk management and compliance to mortgage lenders and banks.FundingShield delivers loan transaction level verification and validation tools for closing documents and parties via APIs.February 21, 2019 10:30am Eastern Daylight TimeNew York – FundingShield, an integrated application programming interface (API) solution delivering FinTech solutions to the Mortgage and Real estate finance space, has published its
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FundingShield, LLC – Newport Beach, Calif. – Jan. 8, 2019 FundingShield is pleased to announce that Faith Schwartz has joined its senior advisory board. She brings a wealth of experience and relationships stemming from her leadership in the lending, fintech, non-profit and advisory space, and she is currently president of automated verification provider FormFree. Schwartz received the HousingWire HW Vanguard AwardÔäó for her career contributions to the housing finance industry in 2018 and was recognized as one of mortgage banking’s most powerful women by National Mortgage Professional magazine the same year. Other awards include HousingWire’s HW Women of InfluenceÔäó award
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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
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PRESS RELEASE: FundingShield, LLC – Newport Beach, CA – September 6, 2018 It brings FundingShield, LLC great pleasure to announce that Jim Svinth has joined its Senior Advisory Board. Jim is a seasoned business leader with 30+ years of financial and operations experience with several Fortune 500 companies including: GE Capital, Norwest, The Prudential, and Citigroup. Jim has led virtually every aspect of the mortgage banking process with emphasis in risk management, capital markets, and structured finance disciplines. Recently, Jim served as LoanDepot’s Executive Vice President of Enterprise Risk Management and is a founding member of its executive team. Prior
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Original Article from National Mortgage News: https://www.nationalmortgagenews.com/news/housing-market-players-beef-up-defenses-to-thwart-new-wire-fraud-threat ————————————— ————————————— ————————————— Editor’s Note: This is part three in a three-part series from the August edition of National Mortgage News magazine about the growing prevalence of business email compromise fraud. Read part one and part two here. It takes a multipronged approach, through systems and education, by mortgage lenders to stop business email compromise attacks. After a number of unsuccessful attempts at wire fraud against Gateway Mortgage Group, the Tulsa, Okla.-based lender spent much of its 2017 information technology budget putting up defenses to thwart these types of scams. It built a
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Please read the editorial by our CEO Ike Suri in Mortgage Compliance Magazine titled “Manage compliance risk and fraud during the digitization of the mortgage industry” discussing how the digitization of the origination side of the mortgage lending business is creating further risk and exposure to IT assets and back office workflows. Fundingshield technology can assist lenders and other mortgage market participants in managing risk & fraud through the lifecycle. Please click on the image below to open the E-magazine and view the piece: About FundingShield FundingShield is the market leading fintech firm offering plug’n play, scalable, cloud-based risk,
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PRESS RELEASE: FundingShield, LLC – Newport Beach, CA – August 1, 2018 FundingShield, LLC (“FS”) is pleased to announce Jerry Halbrook has joined its Senior Advisory Board. Jerry brings with him 34+ years of leadership experience in mortgages, banking, title and technology running large scale businesses as a senior executive around the country. Mr. Halbrook’s leadership experience includes his role as CFO of Prudential Home Mortgage, Chief Information Officer of Bank of America consumer real estate, Managing Director of CitiMortgage in the Capital Markets area, Co-founder and COO of Nexstar Financial, President of Black Knight Inc. Origination Technology and Business
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