Archives for Title

FundingShield Receives MISMO® Software Certification for Wire Fraud Prevention Technology

NEWPORT BEACH, Calif. (October 9, 2019) – FundingShield, an industry leading innovator within the mortgage fintech industry, is pleased to announce that its wire fraud prevention software products, Guardian Service and Wire Account Verification Service, have received Premiere Level Certification from MISMO®, the mortgage industry’s standards organization. Premiere Level Certification is the highest certification given by MISMO.   “We are delighted to have FundingShield successfully certified MISMO compliant,” said Ike Suri, Chairman and CEO, FundingShield, LLC. “This is an important step towards a better customer experience through safeguarding data, preventing wire fraud, managing risk, and ensuring loan level transaction compliance.”
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Categories: Press and Press Releases.

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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Categories: Press and Press Releases.

FS Newsletter 123: Mortgage “Purchase Market” Drives Closing Agent Stress

The current “purchase mortgage” market is causing mortgage banks across the country to re-examine their in-house closing party review processes as they have less control of closing agent selection. Additionally, this adds stress operationally and increases risk through closing agent review, compliance, risk management and wire fraud prevention if not actively utilized and deployed at the loan transaction level.    Mortgage Participants: All Mortgage lenders doing purchase (non-refinance) transactions & any lender that cannot force the use of its preferred closing agents across all closings. Investors or Warehouse lenders concerned about closing agent controls. Problem: The purchase market is causing
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Categories: News Letters and Press.

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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Categories: Press and Press Releases.

FS Newsletter 122: LOS shutdowns creating increased risk & headaches for lenders

  Newsletter 122: January 5, 2018 As lenders move away from legacy Loan Origination Systems (“LOS”) or migrate from an unsupported, discontinued or retired LOS we highlight various loan closing procedure gaps that can be enhanced leveraging Fundingshield’s services.  During the transition phase Fundingshield provides a proven, flexible plug-n-play solution during this highly exposed period for operational & fraud risk. Mortgage Lenders Any Mortgage lender that is currently transitioning from a current LOS to another or going through entity wide system and reporting changes.  These lenders have to deal with aged, retired, patched systems lacking data security standards and support
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Categories: News Letters and Press.

Fundingshield Alert – Rise In 2017 Holiday Season Wire Fraud Attempts

Newport Beach, CA – December 28, 2017: As the holidays continue and lenders push forward to close loans ahead of the year end FundingShield has been called upon to assist in numerous situations of wire diversion and closing fraud hitting lenders across the country.  As highlighted in our recent newsletters and alerts our sources and systems have noticed an increase in wire swapping and diversion attempts during the run up to and through the holiday season in 2017.  The many system breaches at Uber, Yahoo, Equifax and the most recent from Alteryx (see Fundingshield commentary in the press National Mortgage
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Categories: News Letters and Press.

FundingShield Newsletter 111 – FundingShield Successfully Completes Consulting Assignment for National Title Company

FundingShield LLC – Newport, CA – July 25, 2016 – Newsletter 111 FundingShield is excited to announce that it has successfully completed a consulting assignment for a National Title Company (“NTC”) that resulted in the amendment of Closing Protection Letter template (“CPL”) documentation of NTC for the attorney states of North Carolina and South Carolina.  FundingShield began the process on the back of a referral from an existing and current top 10 retail lender client and the assignment was lead by FundingShield’s President Adam Chaudhary who has been driving the expansion of the firms client base and service offerings that
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Categories: News Letters.