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  PRESS RELEASE:   FundingShield Announces $670 Billion in Mortgage Related Payments Secured in 2022, 63% Client Growth in 2022, and CEO Ike Suri Appointed to California Mortgage Bankers Association Board   Newport Beach, CA (January 10, 2023) – FundingShield announced that its CEO, Ike Suri, has been appointed as a board member to the California Mortgage Bankers Association (“CMBA”), the country’s largest state level Mortgage Finance Association. The appointment of Ike Suri comes at a time when the mortgage market is seeking further efficiencies driven by technology to manage cost, risk, improve throughput and improve client experience in light
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      FundingShield Q3 2022 Fraud Analytics Commentary from FundingShield’s CEO Ike Suri Wire and title fraud risk reached a new record in the third quarter of 2022 at 47.9% of transactions having at least one risk issue. With the contraction in market transaction volumes the impact is that much more severe for lenders where a single wire or title fraud event could be catastrophic. Business email compromise (BEC) attacks in real estate have appeared in media outlets such as Bloomberg’s recent article that shed light on this blind spot that has been overlooked from a risk prevention perspective.
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      FundingShield Q2 2022 Fraud Analytics Commentary from FundingShield’s CEO Ike Suri Wire and title fraud risk remained at all time high levels in the second quarter of 2022 while the market contracted, rates increased, and fraud risk continued to rise. Several national law firms, title agents and independent agents had business email compromise events that FundingShield uncovered after these firms had emails going to market with fraudulent wire instructions unbeknown to anyone at the closing agent / law firms. Comparing Q2 2021 vs Q1-2022 there was an alarming increase in fraud/risk exposure surrounding wire related issues of
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