FundingShield Announces Integration with OptiFunder to Deliver Integrated Fraud Prevention Services
FundingShield and OptiFunder have announced an integration agreement to provide enhanced fraud prevention services in mortgage lending. The partnership combines FundingShield's extensive repository of real-time verified closing agents with OptiFunder's warehouse management systems to combat wire and title fraud. FundingShield offers over 95% market coverage for licensed closing agent verification, while the integration aims to deliver automated risk management solutions, data integrity, and bank account verification for independent mortgage banks and warehouse lending clients.
FundingShield e OptiFunder hanno annunciato un accordo di integrazione per fornire servizi avanzati di prevenzione delle frodi nel settore dei mutui. La partnership unisce l'ampio repository di FundingShield di agenti di chiusura verificati in tempo reale con i sistemi di gestione dei magazzini di OptiFunder per combattere le frodi legate ai bonifici e ai titoli. FundingShield offre oltre il 95% di copertura del mercato per la verifica degli agenti di chiusura autorizzati, mentre l'integrazione mira a fornire soluzioni automatizzate di gestione del rischio, integrità dei dati e verifica dei conti bancari per banche ipotecarie indipendenti e clienti di prestiti in magazzino.
FundingShield y OptiFunder han anunciado un acuerdo de integración para proporcionar servicios mejorados de prevención de fraudes en los préstamos hipotecarios. La asociación combina el extenso repositorio de agentes de cierre verificados en tiempo real de FundingShield con los sistemas de gestión de almacenes de OptiFunder para combatir el fraude de transferencias y títulos. FundingShield ofrece más del 95% de cobertura del mercado para la verificación de agentes de cierre licenciados, mientras que la integración tiene como objetivo proporcionar soluciones automatizadas de gestión de riesgos, integridad de datos y verificación de cuentas bancarias para bancos hipotecarios independientes y clientes de préstamos en almacenes.
FundingShield와 OptiFunder가 주택 대출에서 향상된 사기 방지 서비스를 제공하기 위한 통합 계약을 발표했습니다. 이 파트너십은 FundingShield의 실시간 인증된 마감 대리인 저장소와 OptiFunder의 창고 관리 시스템을 결합하여 송금 및 제목 사기에 맞서 싸웁니다. FundingShield는 면허가 있는 마감 대리인 확인에 대해 95% 이상의 시장 점유율을 제공하며, 통합은 독립 주택 대출 은행 및 고객을 위한 자동화된 위험 관리 솔루션, 데이터 무결성 및 은행 계좌 확인을 제공하는 것을 목표로 하고 있습니다.
FundingShield et OptiFunder ont annoncé un accord d'intégration pour fournir des services renforcés de prévention de la fraude dans le domaine des prêts hypothécaires. Ce partenariat combine l'énorme répertoire d'agents de clôture vérifiés en temps réel de FundingShield avec les systèmes de gestion d'entrepôts d'OptiFunder pour lutter contre la fraude par virement et par titre. FundingShield offre plus de 95% de couverture du marché pour la vérification des agents de clôture agréés, tandis que l'intégration vise à fournir des solutions automatisées de gestion des risques, d'intégrité des données et de vérification des comptes bancaires pour les banques hypothécaires indépendantes et les clients de prêts d'entrepôt.
FundingShield und OptiFunder haben eine Vereinbarung zur Integration bekannt gegeben, um verbesserte Betrugspräventionsdienste im Hypothekendarlehen anzubieten. Die Partnerschaft kombiniert das umfangreiche Repositorium von FundingShield mit Echtzeit-verifizierten Abschlussagenten und den Warehouse-Management-Systemen von OptiFunder, um gegen Wire- und Titelbetrug zu kämpfen. FundingShield bietet über 95% Marktabdeckung für die Überprüfung lizenzierter Abschlussagenten, während die Integration darauf abzielt, automatisierte Risikomanagementlösungen, Datenintegrität und Bankkontenverifizierung für unabhängige Hypothekenbanken und Kunden im Warehouse-Lending-Bereich bereitzustellen.
- Integration enables enhanced fraud prevention capabilities for mortgage lending clients
- FundingShield brings 95% market coverage for licensed closing agent verification
- Partnership expected to drive ROI through process optimization and cost savings
- None.
Insights
This integration between FundingShield and OptiFunder represents an incremental enhancement to the mortgage industry's fraud prevention infrastructure, but has minimal direct impact on Mastercard (MA). While both companies operate in the financial technology space, their focus on mortgage wire fraud prevention is tangential to Mastercard's core payment processing business.
The partnership aims to address the growing concern of wire and title fraud in mortgage transactions through automated verification systems and real-time data validation. FundingShield's 95% market coverage in licensed closing agent data provides a robust foundation for fraud prevention, but this development primarily affects mortgage lenders and warehouse lending operations rather than payment networks.
From an industry perspective, this integration reflects the broader trend of increasing investment in financial security infrastructure, particularly in specialized segments like mortgage lending where transaction values are high and fraud risks are significant.
FundingShield & OptiFunder enter into an integration agreement providing integrated wire and title fraud prevention solutions to clients (Graphic: Business Wire)
Data security, payment risk and cybersecurity risks are top of mind in the mortgage and banking space. Lenders need tools to provide verification and validation of information in real time ensuring inconsistencies are resolved and potential frauds are prevented. FundingShield has the largest repository of live, real time, source data verified licensed closing agents with over
“Wire fraud prevention is a key priority for OptiFunder clients, as payment-related fraud grows our integration with FundingShield will deliver integrated and automated risk management solutions to address the evolving threats,” said Mike McFadden, OptiFunder’s CEO.
“OptiFunder has created solutions that streamline many of the funding related tasks that Independent Mortgage Banks need to find efficiencies to be competitive. Their and our tools are designed to bring technology into the hands of decision makers to attack the dual high priorities of risk management and process improvement via automation,” said Ike Suri, CEO of FundingShield. “Our expertise is providing automated, real-time, source-data verifications for compliance and risk management. We look forward to bringing our automations to more of real estate ecosystem in our partnership with the OptiFunder team.”
About OptiFunder
OptiFunder, founded in 2018, is a leading innovator in the mortgage industry, offering real-time, data-driven solutions to optimize loan funding and connect stakeholders in the warehouse funding process. Their automated Warehouse Management System (WMS) streamlines data submission between originators, warehouse lenders, and capital markets. Building on the success of its WMS, OptiFunder launched Greyhound, a modern management system for warehouse lenders that enhances efficiency, security, and scalability. OptiFunder is committed to delivering advanced solutions that address the evolving challenges of the mortgage industry and bridge the gap between the primary and secondary markets.
About FundingShield
FundingShield is a FinTech offering B2B & B2B2C solutions delivering transaction level coverage against wire & title fraud, settlement risk, closing agent compliance & cyber threats while reducing operating costs and improving asset quality for US real estate investors and
FundingShield is a 6-time HousingWire TECH100 Winner for 2019-2023; CFO Tech Outlook Top 10 Financial Security Solution Provider for 2021, 2022; Inc. 5000 award recipient for 3 years in a row 2021-2023, California Mortgage Bankers Association Tech Innovator, an ICE Mortgage Technology (InterContinental Exchange – parent of NYSE) Encompass partner, a Tata Consulting Services "TCS" partner (NSE: TCS), and a MasterCard partner (NYSE: MA).
View source version on businesswire.com: https://www.businesswire.com/news/home/20241025479689/en/
For more information or media inquiries contact:
info@fundingshield.com
Source: FundingShield
FAQ
What is the purpose of FundingShield's integration with OptiFunder?
What market coverage does FundingShield provide for licensed closing agents?
What benefits will OptiFunder clients receive from this integration?
