Archives for Press Releases

FundingShield Announces Partnership With Pioneer Underwriters and NFP Corporation to privide enhanced crimes policies covering New York State Attorney “Theft of client funds”

September 25, 2017 | by | Comments Off on FundingShield Announces Partnership With Pioneer Underwriters and NFP Corporation to privide enhanced crimes policies covering New York State Attorney “Theft of client funds”

PRESS RELEASE: Original release can be found here NEWPORT BEACH, Calif.–(BUSINESS WIRE)–FundingShield is proud to announce its partnership with Pioneer Underwriters (U.K.) and NFP Corporation (a global top insurance brokerage) in deploying FundingShield’s technology based underwriting services allowing for enhanced crimes policies for New York state attorneys. FundingShield was able to leverage its vast data from over $500 billion of mortgage closings that identify closing party document deficiencies, control gaps or potential fraud tactics used by closing agents and attorneys to develop the framework to approve attorneys seeking enhanced coverage. The “FundingShield Endorsement” policy specifically covers theft of clients funds
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Categories: Press Releases.
Tags: crimes, Fintech, Fraud, insurance, insuretech, insurtech, law firm, policy, and regtech.

FundingShield News Alert 9/14/2017: Equifax Data Breach Impact on Mortgage Funding & Third Party Risk

September 14, 2017 | by | Comments Off on FundingShield News Alert 9/14/2017: Equifax Data Breach Impact on Mortgage Funding & Third Party Risk

As the mortgage industry lenders implement the requirements to meet the New York Cyber Security requirement (DFAS) and the FFIEC CAT, the Equifax breach highlights the existing risk surrounding data integrity, fraud and the need for enhanced controls. Consumer finance and mortgage banks will have to manage the ongoing threat of fraud which the mortgage press and our clients have reacted to by showing an increased demand for third party diligence, oversight and controls. National Mortgage News Reported Monday September 11, 2017 the Seven Aftershocks of the Equifax Breach of which one of the 7 points highlighted was precisely Third-party
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Categories: Press Releases.
Tags: Bank, Compliance, Cyber, Equifax, Fraud, funding, lender, lending, Mortgage, Risk, Security, third party, and wire.

William Klumper, a mortgage risk, technology and information security veteran joins the Fundingshield Advisory Board.

July 17, 2017 | by | Comments Off on William Klumper, a mortgage risk, technology and information security veteran joins the Fundingshield Advisory Board.

Newport Beach, CA (July 17, 2017) – Fundingshield, LLC., is pleased to announce the mortgage risk, information security and technology veteran, William Klumper, has joined its advisory board. William’s career has focused on driving best practices and technological innovation for the mortgage industry in the information security, risk and technology forums. He currently serves as the Chief Information Officer of First Mortgage Company LLC in Nebraska where he also assumed the Chief Security Officer & Chief Privacy Officer roles facilitating governance and controls during the firms rapid growth. He currently has several Mortgage Industry wide leadership roles including MISMO where
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Categories: Press Releases.
Tags: CIO, CISO, Fraud, funding, Fundingshield, Mortgage, Risk, Settlement, and wire.

FundingShield Announces Ike Suri as CEO and Launches a New Array of Products, Pricing & Service Bundles with Enhanced Tools for Fraud and Risk Mitigation in the Mortgage Industry

March 7, 2017 | by | Comments Off on FundingShield Announces Ike Suri as CEO and Launches a New Array of Products, Pricing & Service Bundles with Enhanced Tools for Fraud and Risk Mitigation in the Mortgage Industry

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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Categories: Press Releases.

REDUCING FRAUD, ENHANCING COMPLIANCE IN THE MULTI-TRILLION DOLLAR MORTGAGE INDUSTRY

February 2, 2017 | by | Comments Off on 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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Categories: Press Releases.

FundingShield’s Alert Update: California lifts Fidelity National Title Company’s suspension on conducting business

January 23, 2017 | by | Comments Off on 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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Categories: Press Releases.

FundingShield is pleased to announce that Arthur Rice joins its Advisory Board

October 24, 2016 | by | Comments Off on 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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Categories: Press Releases.

Client Case Summary – Top 5 US Bank

January 20, 2016 | by | Comments Off on 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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Categories: Press Releases.

Pelican Point Capital Partners, LLC., is pleased to announce that it has taken a 90% plus controlling ownership stake in FundingShield LLC

December 9, 2015 | by | Comments Off on Pelican Point Capital Partners, LLC., is pleased to announce that it has taken a 90% plus controlling ownership stake in FundingShield LLC

Newport Beach, CA – Pelican Point Capital Partners, LLC., is pleased to announce that it has taken a 90% plus controlling ownership stake in FundingShield LLC, a financial technology firm providing transaction level risk mitigation for the residential mortgage market. FundingShield’s unique service verifies the 3rd parties (closing agents, closing attorneys, title companies and their associated bank information) to each transaction for its clients and verifies the documents that support the Closing Protection Letters (CPLs) so that its clients are afforded proper protections in the event of a defalcation. Further the company has uncovered several hundred million in potential diverted
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Categories: Press Releases.