Monthly Archives March 2020

As America Moves to WFH, Cyber-Security has Never Been More Important – Solutions in a single click for EllieMae and API Users

  The response to the novel Coronavirus in the mortgage industry has been justifiably rushed. Unfortunately, as lenders move quickly to ensure business continuity by moving to work from home (WFH) environments, vulnerability to bad actors has been amplified like never before. Wire fraud and regulatory compliance violations have risen by an additional 62% within the last 10 business days alone. It is crucial to take the necessary steps to prevent wire and title fraud with FundingShield’s fintech solutions- now more than ever. During this volatile time, leveraging an API driven digital strategy is paramount to success. FundingShield’s partnership with
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Categories: Media, Press, and Press Releases.

Disruption in Operations due to Coronavirus (COVID-19) is an Opportunity to Embrace Fintech and Leverage its Tools to run a Healthy and Prosperous Business

Coronavirus (COVID-19) has not been classified as a pandemic yet, but businesses need to prepare themselves for the reality that Coronavirus will cause disruptions to their daily operations. Having a secure and proactive response plan is crucial in times of uncertainty. FundingShield and its award-winning MISMO certified fintech tools provide solutions to keep your business safe and functional in uncertain times. With vulnerability at an all-time high, here’s what we know will be crucial to maintain daily operations in a tech-oriented market: A secure crisis management plan Transparent, clear, and secure communications Consideration for the likelihood of mass absenteeism Plans
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Categories: Media and Press Releases.

2020 HW Tech100 Real Estate winner: FundingShield

FundingShield is a fintech firm offering plug-and-play, scalable, cloud-based risk, compliance and fraud technology solutions to protect the mortgage, real estate, title, and legal industries from wire fraud, social engineering attempts, injection attacks and regulatory and compliance risk with third parties. Using its customized APIs, FundingShield provides actionable transaction-level intelligence. The company emphasizes clear communication and uses a binary pass/fail intelligence. $6 billion closings halted by clients or redirected More than $530 billion closing value monitored $90 billion flagged for closing deficiency or inconsistency
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Categories: Media, Press, and Press Releases.

Wire Fraud Consequences to Mortgage Lenders

By Sabrina Park Ike Suri and Adam Chaudhary of fintech firm, FundingShield, talk wire and title fraud prevention in the mortgage industry—a new target for hackers with sophisticated technology designed to sidestep internal fraud controls. Less than 6 months ago, we were having a conversation with a reverse mortgage lender who had personally experienced a fraudulent attack on a $200,000 wire transfer. The lost funds were never recovered. When you get right down to it, law enforcement can’t keep up with the rapid pace at which internet crime is rising. And with fraudulent reports increasing by 1,100%, the FBI has
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Categories: Media, Press, and Press Releases.