Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
736,014-3420
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.83%0.04
Sponsored

How to prevent wire fraud while increasing production

Between Q2 and Q3, state licensing issues increased by an additional 90%

Nov 10, 2020 2:20 pm  By
FundingShieldMortgage FraudWire Fraud

The low interest rates this year have led to increased revenue and high loan volumes. Unfortunately, the threat of wire and title fraud risk has also increased. 

As companies and their workforces continue to adjust to a work-from-home system in a disjointed environment, transition challenges persist. Acceleration of technology and the embrace of new, innovative solutions can help companies coordinate and collaborate to improve customer satisfaction, but the same new tech is also available to bad actors. As a result, even new technology hasn’t diminished the threats of fraud risk and compliance issues.

Comparing Q2 vs Q3 2020 in its latest Wire and Title Fraud Analytics report, FundingShield found:

  • 30% increase in fraud/risk exposure in CPL errors and issues
  • 31.5% increase in wire verification and ownership issues
  • 90% increase in state licensing issues

Working with FundingShield tools can help prevent these issues while increasing overall production and cutting costs, leading to higher profits.

FundingShield offers industry-leading fintech B2B and B2B2C fraud prevention solutions that deliver transaction-level coverage against wire and title fraud, settlement risk, closing agent compliance and cyber threats. For more information, visit https://fundingshield.com/ or email [email protected].

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please