New LendingQB Partnership to Protect Against Wire Fraud

Feb 27, 2018

LendingQB has announced a partnership with PitchPoint Solutions to provide lenders stronger tools to protect against wire transfer fraud. Through this integration, customers of LendingQB have access to PitchPoint’s Bank Account Verification and Settlement Agent Vetting tools. Bank Account Verification verifies an account holder’s name, routing number and account number via a secure financial network, while Settlement Agent Report vets the settlement company to ensure it is in good standing and our clients are compliant with CFPB and investor requirements.

This integration helps lenders deal with increasing levels of wire fraud, which increased 480 percent last year, totaling more than $748 million in losses. The partnership also enables lenders to comply with Fannie Mae and Consumer Financial Protect Bureau (CFPB) recommendations announced in bulletins encouraging lenders to “confirm before you fund.”

“Ensuring comprehensive fraud detection and verification services remain our top priority, especially in an environment where hackers are growing more sophisticated by the day,” said Ron Hughes, Senior Vice President of Business Development for PitchPoint Solutions. “Our partnership with LendingQB enables rapid and secure verification of wire instructions protecting lenders from hackers and reducing the risk of profit loss.”

Tim Nguyen, President of LendingQB, said, "LendingQB has always held a strong focus on cybersecurity. In an era of the ever-increasing volume of cyber-related crimes, there can never be enough precautions for financial data. Our partnership with PitchPoint reaffirms our commitment to the importance of data security and extends it to our valued lenders. PitchPoint's fraud detection tool doesn't just detect fraud, it offers our lenders peace-of-mind."

About the author

NationalMortgageProfessional.com

Link copied

Published

Feb 27, 2018

People On The Move

Jonathan Warrick Takes Helm At dv01 As Founder Perry Rahbar Moves To Fitch Advisory Role

The structured-finance data provider’s first employee succeeds Rahbar following more than a decade with the company

Jonathan Warrick has been named head of dv01, succeeding founder Perry Rahbar in the top leadership role at the structured-finance data and analytics provider.Warrick, dv01’s first employee, most recently served as chief operating officer. Rahbar is transitioning to a strate...

Wholesale

UWM’s $2.05 Billion Capital Reset Doesn’t Erase Its Leverage

Fitch downgraded the wholesale giant after leverage reached 6.1x, saying the preferred investment changes UWM’s funding structure but does not immediately reduce its debt burden

United Wholesale Mortgage’s $2.05 billion capital reset may strengthen its liquidity and replace secured borrowings, but Fitch Ratings does not believe the transaction immediately reduces the wholesale lender’s debt burden.Fitch downgraded the long-term issuer default rating...

Nov

Pasadena, CA

More from

Tech

Blend Reports Early AI Gains While Mortgage Revenue Trails Volume

Funded loans increased 14%, twice the growth rate of Mortgage Suite revenue, while preliminary Autopilot results showed better pull-through and 4.5 hours of automated work per loan

Tech

Aug 10, 2026

Carrington Closes Valon Mortgage Acquisition, Nears 2 Million Serviced Loans

Deal adds approximately 810,000 loans and clears the way for Carrington to make ValonOS its core servicing platform

C-Suite Strategies

Aug 05, 2026

Secure Insight Brings Closing Guard To SettlementOne Platform

Integration gives Encompass lenders access to settlement-agent risk assessments and verified wire instructions through their existing SettlementOne workflow

Tech

Aug 05, 2026

Rocket Pro Broadens Refi Pricing Push, Extends 100-BPS Purchase Credit

August Power Play reaches beyond cash-out refinances while pairing near-term pricing incentives with a longer-term broker technology play

Wholesale

Aug 04, 2026

Adwerx Adds Canva Integration For LO Ad Campaigns

The integration lets mortgage professionals move Canva designs into targeted advertising while preserving lenders’ compliance-review controls

Tech

Aug 04, 2026

MeridianLink Buys Credit Mountain To Turn Loan Declines Into Future Business

The acquired technology keeps rejected applicants connected to their lender while they work toward eligibility, creating a potential pipeline of mortgage-ready borrowers

Tech

Aug 03, 2026

Popular