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FundingShield Joins The Mortgage Collaborative’s Preferred Partner Network
The Mortgage Collaborative (TMC) has 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’s services to TMC members include, WAVs or Wire Account Verification Services, which customers can leverage wire verifications instantly from FundingShield’s proprietary dataset of over 40,000 verified settlement party wire accounts. Also offered is The Guardian Service, which is 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 and 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."
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