Alliances and Partnerships, Business, Free News Articles, Software

FormFree Partners with FundingShield to Deliver Enhanced Wire Fraud Protection to FormFree’s Network of More than 1,000 Mortgage Lenders

ATLANTA, Ga. -- FormFree(R) today announced that it has entered into a strategic alliance with FundingShield, a fintech firm that safeguards homebuyers, mortgage lenders and title insurance underwriters from wire fraud.

FundingShield's loan-level verification services assure closing funds transferred at the end of a mortgage loan transaction go to verified bank accounts belonging to authorized recipients. FormFree will integrate FundingShield's Wire Account Verification Service (WAVS) into its Passport(R) all-in-one verification solution as a value-added service available to more than 1,000 mortgage lenders and their customers, including those who use Passport through one of FormFree's more than 100 integrations and reseller partnerships.

"FundingShield creates a more secure closing experience for all parties involved in a loan, from the borrower to the investor and all the service providers in-between," said Ike Suri, Chairman & CEO of FundingShield. "By partnering with FormFree, we'll be able to put that protection directly in the hands of mortgage lenders, loan officers and applicants, reducing their risk of lost funds and delayed closings due to fraud."

"Passport by FormFree is the secure, digital version of a consumer's financial ID that contains everything creditors need to know about a loan applicant," said FormFree Founder and CEO Brent Chandler. "Our alliance with FundingShield, which gives Passport users access to industry-leading wire fraud protection, is a perfect fit for FormFree's focus on making lending more secure and transparent."

About FormFree(R):

FormFree is a fintech company whose market-leading AccountChek(R) Asset Reports are used by lenders nationwide to verify borrower assets, employment and income in minutes. To date, more than 1,000 U.S. lenders have ordered over 1.25 million AccountChek Asset Reports, delighting their customers with a paperless experience and reducing origination timelines by up to 20 days. FormFree offers automated analysis and standardized delivery to lenders and their investors using a secure ReIssueKey(TM). A HousingWire TECH100(TM) company for four consecutive years, FormFree is based in Athens, Georgia.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About FundingShield

FundingShield is a leading provider of risk management, fraud prevention and regulatory compliance technology solutions protecting the mortgage, real estate, title and legal industries. FundingShield's award winning FinTech solutions deliver the highest level of control and risk mitigation against wire fraud, settlement risk, third-party vendors and cyber fraud while improving the bottom line. The firm's proprietary database of title and settlement parties is the largest in the industry with live, verified and vetted data. FundingShield's services deliver actionable intelligence at the transaction level with coverage up to $5 million per transaction leveraging the firm's cognitive AI and machine learning tools. These user-centric solutions are plug'n play, scalable, pay as you go, secure, cloud-based and integrate easily through its APIs. FundingShield is a HousingWire Tech100(TM) company for the year 2019.

For more information on FundingShield or to speak with the sales or product team, email sales@fundingshield.com, call 800-295-0135 ext. 2 or visit https://www.fundingshield.com/.

Twitter: @RealFormFree #FundingShield #AccountChek #Mortgagebot #digitalmortgage #mortgagelending #WireFraud #RiskManagement #FinTech #MortgageTech #RegTech

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Business, Free News Articles

The Mortgage Collaborative Adds FundingShield to Preferred Partner Network

SAN DIEGO, Calif. -- 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 by 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, Chief Executive Officer of The Mortgage Collaborative. "FundingShield's sophisticated verification products will offer our members peace of mind when executing the closing process and transfer of funds at the end of a mortgage loan transaction."

FundingShield services to TMC members include, WAVs or Wire Account Verification Services, which customers can leverage wire verifications instantly from the FundingShield proprietary dataset of over 40,000 verified settlement party wire accounts. Also offered is The Guardian Service, a loan closing transaction level monitoring system that provides a loan level certificate of assurance confirming good settlement, valid CPL coverage and forms, wire account confirmation, approved and authorized closing parties, licensing of agents and more on every closing.

"We are excited to partner with TMC to provide their members with industry leading solutions to manage risk and fraud in funding their mortgage closings," said Ike Suri, Chairman & CEO of FundingShield. "With an increase in fraudulent activities including social engineering, phishing, hacks and other fraud schemes deployed in the market we hope to assist TMC members to minimize their risk while achieving the highest standard in closing and funding process oversight from a regulatory & fraud perspective. We look forward to meeting and presenting to the TMC members at the upcoming TMC events."

The Mortgage Collaborative network is more than 120 lenders strong, with an aggregate annual origination volume of over $200 billion. The lender network is supported by a preferred partner network of organizations that specialize within each facet of the mortgage life cycle. The Mortgage Collaborative is rewriting the playbook on the cooperative model and their network caters to lenders of all sizes, with a strong mix of independent mortgage brokers and community banks and depositories.

About The Mortgage Collaborative:

Based in San Diego, The Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise, improved compliance, and to help its members access the dynamic and changing consumer base in America. The association is managed by its founding members: John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America (MBA).

For more information, visit: http://www.mortgagecollaborative.com/.

About FundingShield:

FundingShield is an industry leading financial technology firm that protects the mortgage, real estate, title and legal services industries from wire fraud, social engineering attempts, cyber based and settlement agent based wire fraud. FundingShield's cost and time effective solutions deliver the highest level of control and risk mitigation to our clients at the loan transaction level. FundingShield has proven products with hundreds of billions of dollars of transaction history from its existing clients such as major banks, asset managers and independent mortgage banks of all sizes in the residential and commercial mortgage industry.

For more information, visit: http://www.fundingshield.com/.

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