Body: FundingShield would like to update all on our last advisory regarding Fidelity National Title Company Suspension on doing business in California. The current status is listed as active on the Business Search Site for California here. If you have questions on loan level matters for approval/certification by Fundingshield do not hesitate to reach out to your account representative. If you would like to learn more about our loan level monitoring, please email Sales@fundingshield.com. Here is some press mention of our efforts related to the suspension which has been lifted: HousingWire Article
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Monthly Archives January 2017
FundingShield Newsletter – 115. FundingShield’s services provide mortgage lenders risk and exposure mitigation in New York State Settlements by analyzing the closing Attorney’s Insurance Coverage for risk of “Theft of Client Funds”. We have seen a large increase in client business related to this concern and are working with insurers to develop products and solutions around this specific gap in coverage.
Issue 115: January 11, 2017 Total loan value of verified, validated and certified loan closings to end of year 2017 Total dollar amount of transactions identified as erroneous / fraudulent and then corrected and/or redirected with FundingShield Certification Cost of FundingShield Certification versus Dollar Value of Potential Client Loss Exposure: Top 25 mortgage lenders clients serviced ~ $80 Billion+ ~ $15 billion+ >0.05% 8 The vast majority of mortgage lenders have ZERO INSURANCE COVERAGE IN NEW YORK STATE for theft of settlement funds. The current insurance market conventions and policy
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