See the attached bulletin put together by the Mortgage Bankers Association and MISMO on why FundingShield made the decision to be a pioneer in the Fraud Risk Management space by leveraging the data standards and forum of MISMO: Click Here View this article and more in the Q1 MISMO Newsletter
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FundingShield provides FinTech B2B & B2B2C solutions that deliver transaction level coverage against wire & title fraud, settlement risk, closing agent compliance & cyber threats while reducing operating costs and improving asset quality. The solutions are user-centric plug’n’play tools that are scalable, pay-per-loan, secure, cloud-based and integrate easily through APIs driving ROIs greater than 200%. Clients in turn are able to confirm data integrity, confirmation that 3rd party interference and data breaches are not impacting their closings and can lower their operating costs. Lenders who use FundingShield are able to achieve compliance, risk management and operational efficiencies while creating secure
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FundingShield offers FinTech B2B & B2B2C solutions that deliver transaction-level coverage against wire & title fraud, settlement risk, closing agent compliance & cyber threats while reducing operating costs and improving asset quality. User-centric Plug’n’Play tools that are scalable, pay-per-loan, secure, cloud-based, and integrate easily through APIs driving ROIs greater than 200%. View More
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So many great discussions in the Housing Industry led by our very own Faith Schwartz. Supporting #women execs in Housing. To view for free- click the link below https://lnkd.in/g_rqA8h
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Adam J. Chaudhary President, FundingShield discussing Wire Fraud Prevention on HousingWire’s Demo Day. FundingShield Wire fraud prevention collaboration platform brings participants to know about our API driven services for mortgage and title fraud prevention allow lenders, investors, homebuyers, and title companies to confirm wired funds are going to intended recipients and transactions that are free of impact from cyber fraud, phishing, business email compromise, or title fraud.
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FundingShield’s CEO Mr. Ike Suri on how top minds in today’s industry provide borrowers a safe, secure, and seamless homebuying experience. Specifically, discover the innovative wire fraud prevention solutions that are available to today’s lenders powered by the partnership of Ellie Mae and Volly. Click here to watch the video.
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FundingShield provides live data protecting for transactions to vet, verify and validate each counterparty to compliantly prevent wire fraud loss and misrepresentations.
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With market challenges and lower volumes we are seeing an increase in defalcations in the market. Protect your funds on every loan with up to $5mm of coverage using our FinTech tools at FundingShield.
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Fundingshield reports an estimated $75 million per day in wire and closing fraud exposure. This would equate to exposure of ~$20 Billion in 2018. This report leverages Fundingshield’s industry-leading proprietary software, analytics and transaction database of wire account information and transaction closing history. Furthermore, this projection is specific to lender wire and closing fraud attempts, and does not capture the much higher volume of wire fraud attempts against consumers in housing transactions. Wire and closing fraud victims overwhelmingly underreport losses because of reputational risk concerns. As Fundingshield has shared previously, Cyber criminals use crawlers, also known as software
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Fundingshield reports an estimated $3 Billion in wire and closing fraud attempts in the first 4 months of 2018, triple the $1 billion reported to the FBI for all real estate related wire fraud losses for the first 9 months of 2017. This report leverages Fundingshield’s industry-leading proprietary software, analytics and transaction database of wire account information and transaction closing history. Furthermore, this projection is specific to lender wire and closing fraud attempts, and does not capture the much higher volume of wire fraud attempts against consumers in housing transactions. Wire and closing fraud victims overwhelmingly underreport losses because of
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