A comprehensive transaction-level closing certification product that confirms valid title commitments, vendor compliance to state laws and registration of closing parties with requisite state-corporate registrar (OCC, FDIC, CFPB, State Dept. of Insurance / Finance) confirmation of good standing with title insurers as well as recourse back to the insuring entities who have contractual obligations to the lender or investor.
This Dev API Service confirms good settlement and title parties on every loan as well as title commitments/policies issued by bonafide entities approved by title insurers. This applies to any good standing and compliant closing agent, title company or attorney in the country.
The service drives over 200% ROI saving time and money while preventing fraud, meeting compliance and vendor oversight requirements and improves loan portfolio quality as it carries additional coverage of up to $5mm per transaction. Contact us to discuss the terms and conditions.
WAVs is an API driven FinTech solution that allows a user to leverage live wire account data on over 10,000’S of verified settlement party accounts representing well over 95% of actively used marketplace accounts. The fraud control can be conducted at the transaction/loan level delivering the highest level of protection.
The WAVs database is comprised of live data that has undergone vetting and verification according to FundingShield’s requirements in order to be deemed “good” accounts held by the intended licensed and authorized recipients.
Algorithms are used to determine what accounts are good and for how long. All accounts must have source data validation to tie the ownership of the bank account back to the intended real estate settlement
Results are available in seconds direct via LOS integration, via APIs or through secure web-based portals.
A customizable vendor compliance automation system to manage 1000’s of relationships efficiently and per your firm’s own risk specifications. SPC also automates communication, document and questionnaire management, vendor ratings, issues, and incident management and becomes the audit and control system that can be leveraged by operations teams, regulators, auditors and investors seeking to confirm controls around third party relationships of an institution.