Monthly Archives November 2017

Fundingshield Newletter 116: February 2, 2017 – OCC Third Party Oversight leveraging our SPC system that incorporates key principals of the Mckinsey Consulting study

On January 24, 2017 the OCC shared the OCC Bulletin 2017-7 (examination procedures to supplement OCC Bulletin 2013-29, “Third-Party Relationships: Risk Management Guidance,”) to promote “consistency” in the examination guidelines and goals of the OCC of the covered national banks and federal savings associations. These guidelines are designed to help examiners focus and apply consistent measurement across any framework in place for third party oversight by institutions and the key is to have a “best in class” risk management system and framework for identified and appropriate risks. FundingShield has been deploying vendor & third party service provider (“TPSP”) oversight, management, compliance
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Categories: News Letters and Press.

Fundingshield Newletter 114: November 8, 2016 – FundingShield launches next generation Vendor the Third-Party Service Provider Compliance Portal for State, OCC and CFPB Compliance:

FundingShield has answered its clients’ call for a simple yet powerful tool for assuring Third Party Service Provider and Third Party Originator Compliance with Federal and State requirements with the launch of its SPC service. Clients Any mortgage lender or servicer who work with third party service providers and who is subject to OCC, CFPB or State compliance rules. Problem Lenders and Servicers need a simple hands off solution to managing federal and state compliance requirements for all types of third party service providers and originators without paying a high price and experiencing a steep learning curve. Solution Fundingshield’s SPC
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Categories: News Letters, Press, and Uncategorized.

Fundingshield Newsletter 119: June 5, 2017 Fundingshield Title Insurance Services results in change of New Jersey state CPL form by state commissioner.

FundingShield (“FS”) continues to partner with the title insurance community providing analysis of any closing agents acting outside of approved guidelines set forth by the title insurers.  When FS reviews closing documents to confirm CPL coverage and funding verification of valid bank accounts for lender clients we collect and maintain a tremendous amount of live data on closing agents.  Our technology and staff investigate any inconsistencies identified in closing agent behavior and report this back to the state counsels of the title insurance community for verification.  One recent example uncovered in New Jersey provided a top 5 title insurance company
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Categories: News Letters and Press.

News Alert: Senior Govt cyber-crime advisor to Fundingshield issues holiday wire fraud alert

A senior government cyber-crime advisor to Fundingshield has issued a holiday season wire fraud alert to lenders warning of heightened cyber attacks and a need for diligence and screening. November 16, 2017 Newport Beach, CA: Fundingshield is a financial technology company that protects the Mortgage, Real Estate, Title and Legal firms from wire fraud, social engineering attempts, cyber based and settlement agent wire fraud. A recent report shared by a cyber security government contractor shares that in the coming holiday season extra diligence is needed in processing wire validation in advance of 3-day weekends and key employee holiday periods such as Thanksgiving, Christmas,
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Categories: News Letters and Press.