FundingShield has entered into a relationship with CoreLogic to provide comprehensive title fraud solutions via an API integration to the CoreLogic Digital Mortgage Platform.
Wire and title fraud risk reached an all-time high in the fourth quarter of 2023 with 51.8 percent of transactions having issues that led to a risk of wire and title fraud, according to FundingShield.
With this new integration, CoreLogic Digital Mortgage Platform clients can now access FundingShield’s ecosystem of applications to protect against wire fraud and manage their risk and compliance as part of their existing mortgage closing workflows.
FundingShield’s live ecosystem of service provider source bank data is one of the largest in the industry with over 95 percent coverage.
“Wire fraud prevention is a growing challenge and rising priority for CoreLogic clients,” Bob Jennings, executive, collateral and risk solutions at CoreLogic, said in a release. “As cyber-based threats hit the mortgage, title and real estate segments and payment-related fraud increases, our integration with FundingShield will allow our clients easy access to risk management solutions to address these concerns.”
“CoreLogic is the intersection of the data used to drive the mortgage and real estate markets,” Ike Suri, CEO of FundingShield, said. “As clients seek automated solutions to drive ROI, we are excited to deliver FundingShield’s cutting-edge financial technology CoreLogic clients to help combat wire fraud. Our expertise is in providing automated, real-time, source-data verifications for compliance and risk management. We look forward to bringing our automations to more of the top US banks, residential and commercial real estate lenders where CoreLogic has deep domain knowledge and experience.”