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July 15, 2019

FormFree partners with FundingShield to deliver enhanced wire fraud protection

FormFree announced a partnership with FundingShield to deliver enhanced wire fraud protection to FormFree’s network of mortgage lenders.

“FundingShield creates a more secure closing experience for all parties involved in a loan, from the borrower to the investor and all the service providers in-between,” said Ike Suri, chairman and CEO of FundingShield. “By partnering with FormFree, we’ll be able to put that protection directly in the hands of mortgage lenders, loan officers and applicants, reducing their risk of lost funds and delayed closings due to fraud.”

The company will now integrate FundingShield’s Wire Account Verification Service into its Passport solution, providing its mortgage lenders heightened fraud protection.

“Passport by FormFree is the secure, digital version of a consumer’s financial ID that contains everything creditors need to know about a loan applicant,” FormFree Founder and CEO Brent Chandler said. “Our alliance with FundingShield, which gives Passport users access to industry-leading wire fraud protection, is a perfect fit for FormFree’s focus on making lending more secure and transparent.”

Read this story as originally published in HousingWire‘s Mortgage Tech Rundown.