Archives for Press Releases

FundingShield joins IBM Cloud as IBM’s first MortgageTech partner

FundingShield joins IBM Cloud as IBM’s first MortgageTech partner delivering API based solutions driving innovation to the financial services space.   MortgageTech – Wire fraud prevention firm FundingShield works with IBM Cloud for Financial Services to bring cloud based, plug ’n’ play FinTech tools for fraud prevention, risk management and compliance to mortgage lenders and banks.FundingShield delivers loan transaction level verification and validation tools for closing documents and parties via APIs.February 21, 2019 10:30am Eastern Daylight TimeNew York – FundingShield, an integrated application programming interface (API) solution delivering FinTech solutions to the Mortgage and Real estate finance space, has published its toolkit in the
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Housing Finance Leader Faith Schwartz Joins Board of Wire Fraud Fintech FundingShield

FundingShield, LLC – Newport Beach, Calif. – Jan. 8, 2019 FundingShield is pleased to announce that Faith Schwartz has joined its senior advisory board. She brings a wealth of experience and relationships stemming from her leadership in the lending, fintech, non-profit and advisory space, and she is currently president of automated verification provider FormFree. Schwartz received the HousingWire HW Vanguard Award™ for her career contributions to the housing finance industry in 2018 and was recognized as one of mortgage banking’s most powerful women by National Mortgage Professional magazine the same year. Other awards include HousingWire’s HW Women of Influence™ award
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Fundingshield announces Jim Svinth, Former EVP Risk Management of LoanDepot, joins its Sr. Advisory Board

PRESS RELEASE: FundingShield, LLC – Newport Beach, CA – September 6, 2018 It brings FundingShield, LLC great pleasure to announce that Jim Svinth has joined its Senior Advisory Board. Jim is a seasoned business leader with 30+ years of financial and operations experience with several Fortune 500 companies including: GE Capital, Norwest, The Prudential, and Citigroup. Jim has led virtually every aspect of the mortgage banking process with emphasis in risk management, capital markets, and structured finance disciplines. Recently, Jim served as LoanDepot’s Executive Vice President of Enterprise Risk Management and is a founding member of its executive team. Prior
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Fundingshield announces Jerry Halbrook joins its Senior Advisory Board

PRESS RELEASE: FundingShield, LLC – Newport Beach, CA – August 1, 2018 FundingShield, LLC (“FS”) is pleased to announce Jerry Halbrook has joined its Senior Advisory Board. Jerry brings with him 34+ years of leadership experience in mortgages, banking, title and technology running large scale businesses as a senior executive around the country. Mr. Halbrook’s leadership experience includes his role as CFO of Prudential Home Mortgage, Chief Information Officer of Bank of America consumer real estate, Managing Director of CitiMortgage in the Capital Markets area, Co-founder and COO of Nexstar Financial, President of Black Knight Inc. Origination Technology and Business Intelligence Divisions and many
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Fundingshield Announces Terry Theologides joins its senior advisory board

  FundingShield, LLC – Newport Beach, CA – January 29, 2018 FundingShield, LLC (“FS”) is pleased to announce Stergios “Terry” Theologides has joined its Senior Advisory Board. Terry brings with him more than 20 years’ experience as an executive overseeing mortgage regulatory and risk management issues and developing technology and data-driven products and techniques to manage them.  Most recently, Terry was SVP, General Counsel of CoreLogic, Inc. and was part of the leadership team that launched CoreLogic as a standalone public company.  Mr. Theologides’ leadership experience includes as General Counsel to The First American Corporation’s Information Solutions Group, Executive Vice
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The Mortgage Collaborative Adds FundingShield to Preferred Partner Network

San Diego, Calif. – December 7, 2017  The Mortgage Collaborative, the nation’s only independent mortgage cooperative, today announced the addition of FundingShield to its Preferred Partner network. FundingShield offers TMC members a pair of loan level verification services to protect lenders assuring closing funds go to verified bank accounts belonging to licensed and authorized parties. FundingShield provides actionable intelligence to lenders while other services may provide data that you have to interpret.   “We’re thrilled to add an organization like FundingShield that is so highly regarded by our Lender Members that currently utilize their products and services,” said Jim Park,
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Fundingshield alerts mortgage lenders on the heels of recent widespread data breaches to take proactive & preemptive measures to manage wire fraud risk ahead of the holiday season.

Fundingshield’s ongoing dialogue with financial crimes advisors, cyber security experts and recent law enforcement data indicate an increase in real estate settlement related fraud in the fourth quarter of 2017.  This forecast is based on our analytics, trends over the past 10 years of data and the current rise in cyber related system breaches.  Fundingshield continues its surveillance of fraud tactics and noticed a seasonal trend of lenders potential settlement and wire fraud related cases. The Equifax breach furthers the impact of fraud beyond consumer level and we anticipate it will add to compromised information and personas within the mortgage
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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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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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