March 06, 2017 03:27 PM Eastern Standard Time NEWPORT BEACH, Calif.–(BUSINESS WIRE)–FundingShield announced that its Chairman Ike Suri would be taking the role of CEO, partnering with the firm’s President, Adam Chaudhary to execute the firm’s growth strategy. Adam commented, “Ike brings 25 years of experience and relationships as a principal and operator in private equity, technology, human capital management and strategic situations. He has led various efforts in financial services, banking, technology solutions and investments. The valuable risk management and technology aptitude he brings is already reflected in the strategy, operations and product offering at FundingShield.” FundingShield’s technology-enabled services
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Posts by FundingShield
REDUCING FRAUD, ENHANCING COMPLIANCE IN THE MULTI-TRILLION DOLLAR MORTGAGE INDUSTRY
Business, finance, technology and media executive Ike Suri launches ÔÇÿfintech’ firm focusing on compliance and risk management for the top mortgage lenders. BY CALIFORNIA BUSINESS JOURNAL Ike Suri, a Southern California-based investor, operator and principal whose successes in business range from technology and finance to real estate and film, has launched FundingShield, a financial technology and regulatory technology company in the residential mortgage space. Suri runs Pelican Point Investments, a boutique private equity and late-stage venture capital shop focused on growth channels and opportunities for itself and its partners. FundingShield is a unique financial technology and regulatory technology company focused
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FundingShield’s Alert Update: California lifts Fidelity National Title Company’s suspension on conducting business
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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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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FundingShield wishes all a wonderful, safe and joyous Thanksgiving! Take a look at our newsletter during your travels to see some of the cool things we are providing the residential mortgage industry
Issue 114: November 18, 2016 Total loan value of verified, validated and certified loan closings to end of Oct 2016 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 ~ $70 Billion+ ~ $10 billion+ >0.05% 8 FundingShield retained by Top 25 mortgage lender to conduct a third-party service provider & vendor review. The audit of the lenders relationships has resulted in a FundingShield engagement to provide surveillance and compliance data
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FundingShield is pleased to announce that Arthur Rice joins its Advisory Board
660 Newport Center Drive Suite 710, Newport Beach, CA 92660 Ph: +1 949 706 4888 Fax: +1 949 706 6501 www.FundingShield.com FundingShield LLC is pleased to announce that Arthur Rice is being added to its Advisory Board. Newport Beach, CA (October 23, 2016) – FundingShield, LLC., Arthur Rice joins the FundingShield advisory board driving connectivity, client outreach and new deal flow with US Mortgage Lenders leveraging his 20 plus year career in the C-Suite of major mortgage lenders and his role as a senior consultant to mortgage participants. For the past several years Art has been sought by various residential
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Fundingshield Newsletter 113 – FundingShield Offers Real Time Due Diligence and Risk Management on Title Agents and Closing Attorneys – A Market Leading Service
Total loan value of verified, validated and certified loan closings 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 ~ $70 Billion+ ~ $11 billion+ >0.05% 8 FundingShield Offers Real Time Due Diligence and Risk Management on Title Agents and Closing Attorneys – A Market Leading Service. Industry Problem: Due diligence and risk management services regarding third-party service providers, specifically title companies and closing attorneys, have mainly focused on certifying stagnant information
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Fundingshield Newsletter 112 – FundingShield develops product toolkit for State IOLTA Sections
Total loan value of verified, validated and certified loan closings 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 ~ $60 Billion+ ~ $10 billion+ >0.05% 8 FundingShield develops product toolkit for State IOLTA Sections: FundingShield (“FS”) works with State IOLTLA sections to assure that attorney managed and controlled bank accounts are properly registered for the benefit of mortgage market participants. This due diligence “behind the scenes” prior to funding of mortgage transactions
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FundingShield Newsletter 111 – FundingShield Successfully Completes Consulting Assignment for National Title Company
FundingShield LLC – Newport, CA – July 25, 2016 – Newsletter 111 FundingShield is excited to announce that it has successfully completed a consulting assignment for a National Title Company (“NTC”) that resulted in the amendment of Closing Protection Letter template (“CPL”) documentation of NTC for the attorney states of North Carolina and South Carolina. FundingShield began the process on the back of a referral from an existing and current top 10 retail lender client and the assignment was lead by FundingShield’s President Adam Chaudhary who has been driving the expansion of the firms client base and service offerings that
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Client Case Summary – Top 5 US Bank
FundingShield has been providing residential mortgage closing fraud & diligence verification to bank and non-bank residential mortgage originating clients as well as warehouse lenders for the past 5 years. Screening of closing agents’ valid status, licensing, ability to close in various states and their insurance coverages meeting underwriters’ requirements as well as verification of a valid closing protection letter (CPL) is central to the service that FundingShield provides. Client – A domestic bank in the United States with over USD 300 billion in Assets Client has originated over USD 50 billion in new mortgages originated in 2015 Tenor – Client
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