Real Estate Industry targeted by Highly Sophisticated Ransomware Attacks Cloudstar Under Attack Industry experts said the attack and subsequent blockage of Cloudstar’s system could create a national emergency because the company provides technology for hundreds of title companies and lenders. Cloudstar said it has contacted law enforcement and does not know when its system will be accessible to customers. After accessible to customers. The incident occurred on Friday, July 16th and has halted all business operations supported by Cloudstar. “Cloudstar was recently the victim of a highly sophisticated ransomware attack. We have retained third-party experts to assist us in
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Posts by Vanshika
“Fraud Trends in The COVID Environment” with Adam J. Chaudhary
“Fraud Trends in The COVID Environment” with Adam J. Chaudhary MQAC Webinar is going to be insightful discussing the rising issues of elder abuse and wire fraud. Join Us https://cmba.com/event/june-mqac-webinar/
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“Driving Decisions with Trusted Data” with Ike Suri
“Driving Decisions with Trusted Data” with Ike Suri MISMO plays an essential role as the central point for collaboration between lenders, servicers, regulators, GSEs, and technology providers, enabling the industry to achieve a more seamless and productive digital future. MISMO enables all industry participants to speak the same language by developing and distributing compliance, data and technology standards that improve the integration and flow of data end-to-end. MISMO Summits allow you to network and collaborate with your industry colleagues while learning the latest updates on mortgage industry standards. Your participation helps make the digital future possible. Join us at
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Media, News Letters, and Press.
FundingShield featured on Forbes Magazine “Combating Wire Fraud In The Mortgage Industry”
FundingShield featured on Forbes Magazine “Combating Wire Fraud In The Mortgage Industry” As real estate transactions have moved online, so have scammers who hope to intercept money that’s meant for down payments and funding loans. According to the FBI’s 2020 Internet Crime Report, nearly 14,000 people fell victim to real estate/rental fraud in 2020, which equated to a loss of more than $213 million… As published on: https://www.forbes.com/sites/forbesbusinesscouncil/2021/05/18/combatting-wire-fraud-in-the-mortgage-industry/?sh=4b9d7efc2e59
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News Letters, Press, and Press Releases.
eClosing MBA Demo Day
eClosing MBA Demo Day Come join FundingShield’s President, Adam Chaudhary at MBA’s eClosing Demo Day, May 20th 2:00 – 3:30 PM ET. We are pioneering the digitization of wire fraud prevention. Ensuring your funds impacting your closings and fundings are protected. Come join Us:
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News Letters, Press, and Press Releases.
HousingWire Reports FundingShield Q1 2021 Wire Fraud Market Risk Analytics
HousingWire Reports FundingShield Q1 2021 Wire Fraud Market Risk Analytics HousingWire reported FundingShield’s Q1-2021 Market Wire Fraud Risk Analytics showing that wire fraud & title fraud risks increased by ~90% from Q4 2020 to Q1 2021. 1 in 3 transactions had wire and title fraud risks during Q1 2021 and much of this risk was driven by growing adoption of eClosing solutions that lack third party oversight.
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Press and Press Releases.
#MIC21 – Innovator Insight, Data + Data Security Co
#MIC21 – Innovator Insight, Data + Data Security Co
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Ike Suri named MBA Tech All Star 2021
Ike Suri named MBA Tech All Star 2021 “Suri was not selected because he got a lot of nominations. The quality of his vision in the past four years has transformed how many of us work. Plus, it’s hard to ignore the head of a company that has reviewed more than $1 trillion (that’s trillion with a “t”) in closing value.” As quoted by MBA Continue Reading
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News Letters, Press, and Press Releases.
Funding Shield Wire Fraud Analytics 2021
Wire and title fraud risk spiked in the first quarter of this year while closing and settlement firms leveraged new RON, eClosing and other automation technologies and various cyber security breach events took place at a national scale. Prolonged Work-From-Home policies as well as customer convenience demands have driven the need to expand and leverage many of these eClosing technologies which have increased speed but such solutions are not fraud prevention tools. Comparing Q1 2021 vs Q4-2020 there was an alarming increase in fraud/risk exposure surrounding CPL errors/issues of 163%, a 22 times increase in CPL/Agent validation
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FundingShield Demo’s at the MBA Spring21 conference
FundingShield shared its fintech, market-leading solutions in Wire & title fraud risk management to the mortgage industry at the Mortgage Bankers Associations national Spring21 conference. See the video link below: https://youtu.be/Hk28fDmkj4k Contact sales@fundingshield.com for a demo!
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Media, News Letters, Press, and Press Releases.