FundingShield, Newport Beach, Calif., released its Q3 Wire Fraud Analytics and Risk Report, finding that nearly 46.6% of transactions were flagged for issues posing significant wire and title fraud risks. Each of those loans had an average of 3.1 issues per transaction, a record high and an increase of 35% from Q2.
Tag: Title Fraud
FundingShield: Nearly Half of Transactions at Risk in First Quarter
Nearly 47% of transactions on an $80 billion portfolio of residential, commercial and business purpose loans had issues leading to a risk of wire and title fraud during the first quarter, according to FundingShield, Newport Beach, Calif.
FundingShield: Q1 Wire, Title Fraud Risk Remains High
FundingShield, Newport Beach, Calif., reported that wire and title fraud risk dropped somewhat from record-breaking levels hit in the fourth quarter of 2023, but 48% of loans processed in the quarter still exhibit at least one risk factor.
FundingShield: Q4 2023 Analytics Show Significant Risk for Wire, Title Fraud
FundingShield, Newport Beach, Calif., reported wire and title fraud risk reached a high of 51.8% of loans on a $61 billion portfolio having at least one risk issue in the fourth quarter.