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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FundingShield Wire Fraud Analytics Q4 2021
FundingShield Q4 2021 Fraud Analytics Commentary from FundingShield’s CEO Ike Suri “Wire and title fraud risk remained at elevated levels in the fourth quarter of 2021 where 42% of loans reviewed by FundingShield had at least one risk finding, and of those loans, an average of 2.1 risk findings existed per transaction. This is a sign of continued heightened levels of overall risk and consistently highly concentrated risk elements for problematic loans. In all categories, the fourth quarter levels remained above-average on the approximate $75 Billion plus sample set pulled from Q4 2021 data. This quarter we
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Adam Chaudhary Ranked Amongst the 40 under 40 in National Mortgage Professional Magazine
Adam Chaudhary Named Top 40 Under 40 Upcoming Leaders in the Mortgage Industry in National Mortgage Professionals Magazine December 13, 2021
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featured, Press, and Press Releases.
HousingWire Reports FundingShield Q3 2021 Wire Fraud Market Risk Analytics
HousingWire Reports FundingShield Q3 2021 Wire Fraud Market Risk Analytics Commentary from FundingShield’s CEO Ike Suri Wire and title fraud risk continued to rise in the third quarter of 2021 where 47% of loans reviewed by FundingShield had at least one risk finding, and of those loans, an average of 2.1 risk findings existed per transaction. This is a sign of increased overall risk and a higher concentration of risk elements for problematic loans. This growth comes on the back of all-time high values from the first & second quarter of this year. E-closings and other automation technologies continue
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featured, Press, and Press Releases.
Consumer Fraud, Mortgage, mortgage Fraud, Title Fraud, and Wire Fraud.
Consumer Fraud, Mortgage, mortgage Fraud, Title Fraud, and Wire Fraud.
7 ways to protect yourself against cyber attacks
7 ways to protect you against cyber attacks One of the most efficient ways to protect you against cyber attacks is to learn or train yourself or your employees on these sort of attacks, so here’s a list of 7 ways to protect you against cyber attacks. Don’t overshare on social media You need to be very careful on what you are sharing on social media, and although this may be too obvios sometimes we don’t understand the sensitiveness of the information we are posting. For example, posting the an old photo about your elementary school might be giving answers
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2021 Vanguard: Ike Suri
Protect Your Clients and Yourself From Wire Fraud Foil scammers before they steal someone’s closing funds Write Up From HousingWire: 2021 Vanguard: Ike Suri Ike Suri is a pioneer in automated fintech fraud prevention solutions for the mortgage market. He has led FundingShield’s efforts in protecting lenders and consumers against wire fraud, title fraud and other cyber threats. Under his leadership, FundingShield’s products and solutions have created a new category of services for the mortgage and real estate industry, delivering real-time, transaction-level title/closing agent compliance and fraud risk management services. These solutions also drive cost savings, with clients realizing over
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Media, News Letters, Press, and Press Releases.
FundingShield – LIVE from 2021 Western Secondary Market Conference | Episode 12 | Mortgage Innovators Podcast
Media, News Letters, and Press.
FundingShield named in 2021 Inc. 5000 Fastest-Growing Private Companies List
FundingShield named in 2021 Inc. 5000 Fastest-Growing Private Companies List Newport Beach, CA., August 18, 2021 – Inc. magazine today revealed that FundingShield made its annual Inc. 5000 list of the nation’s fastest-growing private companies. Inc. 5000 is not only a prestigious ranking but also offers a unique look at the most successful companies within the American economy’s most dynamic segmentÔÇöits independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000. “FundingShield has been executing upon our vision and objectives to deliver innovative,
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It’s easier than you think to protect home buyers from wire fraud
It’s easier than you think to protect home buyers from wire fraud By Ike Suri, FundingShield’s CEO How secure is your business from scammers? On the frontend, you’re probably verifying the buyer’s income and employment, and the value of the home they’re buying. But what about the backend? Are you safeguarding borrowers from hacks that could compromise their data or cause their down payment to disappear? Such a loss would be devastating to a buyer who’s saved up that money over years. But as a lender, you’ll pay a price too. If a loan closing is delayed (or
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FundingShield Wire Fraud Analytics Q2 2021
FundingShield Q2 2021 Fraud Analytics Commentary from FundingShield’s CEO Ike Suri “Wire and title fraud risk continued to rise in the second quarter of 2021 after the all-time high values from the first quarter. Adoption of eClosing and other automation technologies continues to grow in and simultaneously open doors for new fraud schemes. American citizens and businesses are under attack from hackers and cybercriminals more so than ever before. Compromises of commodity businesses — from financial firms and energy infrastructure entities to consumer software firms — garnered media headlines during the quarter when their systems were hacked and
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