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: Wire 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.
Steve Ozonian of Williston Financial Group on Fraud and Security
Steve Ozonian is President and CEO of Williston Financial Group, Portland, Ore. Over the course of his career, he has engineered growth of multiple real estate related businesses.