Monthly Archives December 2017

Fundingshield Alert – Rise In 2017 Holiday Season Wire Fraud Attempts

Newport Beach, CA – December 28, 2017: As the holidays continue and lenders push forward to close loans ahead of the year end FundingShield has been called upon to assist in numerous situations of wire diversion and closing fraud hitting lenders across the country.  As highlighted in our recent newsletters and alerts our sources and systems have noticed an increase in wire swapping and diversion attempts during the run up to and through the holiday season in 2017.  The many system breaches at Uber, Yahoo, Equifax and the most recent from Alteryx (see Fundingshield commentary in the press National Mortgage
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Categories: News Letters and Press.

The Mortgage Collaborative Adds FundingShield to Preferred Partner Network

San Diego, Calif. – December 7, 2017  The Mortgage Collaborative, the nation’s only independent mortgage cooperative, today announced the addition of FundingShield to its Preferred Partner network. FundingShield offers TMC members a pair of loan level verification services to protect lenders assuring closing funds go to verified bank accounts belonging to licensed and authorized parties. FundingShield provides actionable intelligence to lenders while other services may provide data that you have to interpret.   “We’re thrilled to add an organization like FundingShield that is so highly regarded by our Lender Members that currently utilize their products and services,” said Jim Park,
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Categories: Press and Press Releases.

Fundingshield Market Alert – How UBER, Equifax & Yahoo data breaches have increased fraud risk in the US mortgage market

Recent news shared that UBER has had a massive data breach of roughly 60 million accounts. While there has been the leaking of PII such as name, address, and driver’s license numbers, it has yet to be reported that the leakage extended to trip location histories, credit card numbers, bank account numbers and other Personally identifiable information (PII) . December 6, 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.   Ike Suri, Chairman & CEO of Fundingshield,
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Categories: News Letters and Press.