FundingShield Receives MISMO Software Certification for Wire Fraud Prevention Technology
MISMO®, the mortgage industry standards organization, recognized FundingShield, an industry leading innovator within the mortgage fintech industry, with its Premiere Level Certification for their wire fraud prevention software. The Premiere Level Certification is the highest-level certification available by MISMO.
“MISMO congratulates FundingShield for their significant achievement of earning a Premiere Level Certification,” said Rick Hill, Executive Vice President of MISMO. “FundingShield’s ability to produce and consume MISMO-based files ensures that their partners will know their data transmissions and translations are safe and reliable.”
“We are delighted to have FundingShield successfully-certified MISMO compliant,” said Ike Suri, Chairman and CEO, FundingShield LLC. “This is an important step towards a better customer experience through safeguarding data, preventing wire fraud, managing risk and ensuring loan level transaction compliance.”
FundingShield provides protection against loss of funds due to inaccurate and/or insufficient documentation, diversionary wire practices or parties closing in excess of their coverage limits from closing agents or attorneys which could jeopardize closing protection letter coverage.
The MISMO Software Compliance Certification Program (http://www.mismo.org/education-and-certification/product/software-certification) provides assurance that a technology provider’s products demonstrate compliance with MISMO standards and best practices. The Premiere Level certification includes an assessment by an independent, MISMO-approved, third-party assessment company. This assessment evaluates the provider’s MISMO-related practices, product-specific usage of MISMO standards, and evidence of MISMO training. The program is open to any company that develops MISMO-base software, products or tools. Only products certified by MISMO may utilize the term “certified MISMO compliant”–a symbol of industry excellence.
For more information regarding MISMO’s Software Compliance Certification Program, visit http://www.mismo.org/education-and-certification/product/software-certification or contact MISMO at info@mismo.org.
