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July 12, 2019

FormFree to offer wire fraud protection through FundingShield (Dodd Frank Update)

FormFree recently entered into a strategic partnership with FundingShield, a fintech firm which provides wire fraud protection to homebuyers, mortgage lenders and title insurance underwriters.

FundingShield’s loan-level verification services are designed to assure closing funds transferred at the end of a mortgage loan transaction go to verified bank accounts belonging to authorized recipients, according to a press release.

FormFree plans to integrate FundingShield’s Wire Account Verification Service (WAVS) with its Passport all-in-one verification solution as a value-added service available to more than 1,000 mortgage lenders and their customers, the release states. That includes customers using Passport through one of FormFree’s more than 100 integrations and reseller partnerships.

This is an excerpt. Read the full story in Dodd Frank Update.