FundingShield in the News: MarketWatch Wire & Title Fraud Risk Hit Record Highs in Q4 2023 with 51.8% of loans at risk. First American & Fidelity Title Cyber Events Increased Focus on Risk Controls NEWPORT BEACH, Calif.–(BUSINESS WIRE)–January 23, 2024– Wire and title fraud risk reached all time highs for Q4 2023. With 51.8% of loans in Q4 2023 having at least one risk issue. This is a 5% rise from Q3 2023. Quarterly Data: During Q4 2023 51.8% percent of transactions on a $61bn portfolio had issues leading to a risk of wire & title fraud.
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Archives for Media
FundingShield in the News: Financial Times
FundingShield in the News: Financial Times NEWPORT BEACH, Calif. & SAN DIEGO–(BUSINESS WIRE)–Feb. 21, 2024– FundingShield, a market-leading fintech providing plug-and-play solutions to manage risk, compliance, and fraud prevention, has entered into a relationship with CoreLogic┬«, a leader in global property information, analytics and data-enabled solutions, to provide comprehensive title fraud solutions via a seamless API integration to the CoreLogic Digital Mortgage PlatformÔäó. Together, the companies are working to protect borrowers and financial institutions from the rapid increase in wire and title fraud in recent years, delivering superior standards in data integrity, bank account verification, and counterparty
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Press Release: FundingShield Announces Integrated Title Fraud Prevention Services on CoreLogic’s Digital Mortgage Platform
FundingShield Unveils Advanced Title Fraud Prevention Integration for Enhanced Security on CoreLogic’s Digital Mortgage Platform NEWPORT BEACH, Calif. & SAN DIEGO–(BUSINESS WIRE)–FundingShield, a market-leading fintech providing plug-and-play solutions to manage risk, compliance, and fraud prevention, has entered into a relationship with CoreLogic┬«, a leader in global property information, analytics and data-enabled solutions, to provide comprehensive title fraud solutions via a seamless API integration to the CoreLogic Digital Mortgage PlatformÔäó. Together, the companies are working to protect borrowers and financial institutions from the rapid increase in wire and title fraud in recent years, delivering superior standards in data
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FundingShield CEO Ike Suri named to the 2024 Board of MISMO
FundingShield CEO Ike Suri named to the 2024 Board of MISMO NEWPORT BEACH, CA, UNITED STATES, February 15, 2024 /EINPresswire.com/ — MISMO Board members represent a cross-section of the residential and commercial real estate finance industries. Board members are responsible for overseeing MISMO’s standards activities and serve two-year terms. Ike Suri, FundingShield CEO, will bring a unique perspective to MISMO leveraging his experience as a principal investor, operator, board member and advisor to public and private companies across various industries during the past 30+ years. FundingShield is a MISMO Certified FinTech offering B2B & B2B2C solutions delivering
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FundingShield Q4 – 2023 – Fraud Analytics With Commentary From FundingShield’s CEO Ike Suri
FundingShield – Q4 – 2023 – Fraud Analytics With Commentary From FundingShield’s CEO Ike Suri Q4 2023 REPORT Wire and title fraud risk reached all time highs for Q4 2023. With 51.8% of loans in Q4 2023 having at least one risk issue. This is a ~5% rise from Q3 2023. Quarterly Data During Q4 2023 51.8% percent of transactions on a $61bn portfolio had issues leading to a risk of wire & title fraud. On average, problematic loans had 2.2 issues per loan indicating the lack of appropriate controls by closing agents to identify
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FundingShield Successfully Completes SOC 2 Audit
FundingShield Successfully Completes SOC 2 Audit FundingShield, a fintech focused on wire and title fraud prevention in the financial services market, today announced its successful completion of its SOC 2 audit. Follow this link for the full article from Business Wire Full article
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featured, Media, and Press Releases.
Mortgage Bankers Association’s MBA Newslink reports “FundingShield: Concerns of Wire, Title Fraud Still High in Q3”
Mortgage Bankers Association’s MBA Newslink reports “FundingShield: Concerns of Wire, Title Fraud Still High in Q3” FundingShield, Newport Beach, Calif., reported risks of wire and title fraud remained high in third-quarter data, although fairly flat from the previous quarter. The report identified 49.2% of loans in the quarter as having at least one risk issue. Q2 clocked in at 50%, and the number was as low as 35.7% of loans in the first quarter of 2022. “Tech innovations that have been deployed by mortgage companies have helped bring down closing costs, however these emerging technologies being introduced such
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FundingShield CEO Ike Suri Spoke on the Panel “Innovation: Addressing the Needs for the Next Generation of Homebuyers” at the #HousingDC23 digital conference
National Mortgage News Covers FundingShield Q3 2023 Wire & Title Fraud Risk FundingShield CEO Ike Suri spoke on the panel: “Innovation: Addressing the Needs for the Next Generation of Homebuyers” at Housing Finance Strategies #HousingDC23 alongside mortgage and tech leaders. Generational affordability for new time homebuyers remains a challenge amidst burdensome rental costs, higher mortgage rates and stubbornly high home prices. This expert panel discusses some of the offerings in the marketplace that offer alternative entry products and analytics to prepare homeowners, augment purchasing power and offer security to the wire transaction as aspiring homeowner reach the
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National Mortgage News Covers FundingShield Q3 2023 Wire & Title Fraud Risk
National Mortgage News Covers FundingShield Q3 2023 Wire & Title Fraud Risk National Mortgage News reports that Title and Wire Fraud Risks Appeared in Nearly half of Q3 Loans: See full article on the National Mortgage News Site at the following link: https://www.nationalmortgagenews.com/news/title-and-wire-fraud-risk-appeared-in-nearly-half-of-3q-loans?utm_campaign=editorial-content&utm_medium=organic&utm_source=linkedin
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FundingShield – Q3 – 2023 – Fraud Analytics With Commentary From FundingShield’s CEO Ike Suri
FundingShield - Q3 - 2023 - Fraud Analytics With Commentary From FundingShield’s CEO Ike Suri Q3 2023 REPORT Wire and title fraud remain at alarming highs in 2023. With 49.2% of loans in Q3 2023 having at least one risk issue. Quarterly Data and Analytics for Q3 2023 During Q3 2023 49.2% of transactions on a $61.3bn portfolio had issues leading to a risk of wire & title fraud. On average, problematic loans had almost 2 issues per loan indicating the lack of appropriate controls by closing agents to identify and fix issues. Q3 yielded
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