Archives for Press

    FundingShield – Q1 – 2024 – Fraud Analytics   Q1 2024 REPORT Despite a slight decline from the record-breaking Q4 2023, wire and title fraud risk in Q1 2024 remained concerningly high. Nearly half (48.0%) of loans processed in Q1 still exhibited at least one risk factor.     Quarterly Data During Q1 2024 48% percent of transactions on a $65bn portfolio compromising of residential, commercial and business purpose loans, had issues leading to a risk of wire & title fraud. On average, problematic loans had 2.22 issues per loan indicating the lack of appropriate controls by closing
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    FundingShield certified as a MBE (Minority Business Enterprise) by the National Minority Supplier Development Council (NMSDC) FundingShield is proud to announce that as of March 2024, we are MBE Certified by the National Minority Supplier Development Council (NMSDC). We know our customers value economic inclusion, and supporting minority owned businesses and enterprises. This certification gives the confidence to know that they are working with a diverse supplier. We are excited to collaborate with the NMSDC and access new opportunities to learn, network, and grow through this partnership and continue to be a supplier of choice to our customers
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    FundingShield earns Gold Partner Status with ICE Mortgage Technology┬«   FundingShield is excited to share we are now an ICE Mortgage Technology GOLD Partner. Stay tuned for webinars on how our integrated solutions within Encompass┬« by ICE Mortgage Technology, are providing closing agent compliance automation, Wire & Title Fraud Prevention and cost saving efficiencies all while improving loan quality and risk. Reach out to Sales@fundingshield.com to learn more or set up a meeting with our team.
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    FundingShield in the News: National Mortgage News   A series of data breaches hit the financial services sector at the end of 2023 and into the new year, highlighting how vulnerable the mortgage industry can be to attacks from bad actors. Millions of borrowers have had their personal identifiable information exposed, with Social Security numbers and bank account information shared to the dark web. These incidents have put mortgage stakeholders on alert regarding how they can protect their infrastructure going forward. Companies recently impacted include: Loandepot, Mr. Cooper, Academy Mortgage, Fairway Independent Mortgage, Planet Home Lending, Fidelity National
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    FundingShield in the News: New York Post   Joe Biden is once again taking a ÔÇÿwrecking ball’ to America’s housing market Read full article here: https://nypost.com/2024/03/15/opinion/biden-is-taking-a-wrecking-ball-to-americas-housing-market/
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    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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    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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