Ike Suri is a pioneer in automated fintech fraud prevention solutions for the mortgage market. He has led FundingShield’s efforts in protecting lenders and consumers against wire fraud, title fraud and other cyber threats. Under his leadership, FundingShield’s products and solutions have created a new category of services for the mortgage and real estate industry, delivering real-time, transaction-level title/closing agent compliance and fraud risk management services. These solutions also drive cost savings, with clients realizing over 200% ROIs per annum on operational efficiencies alone while also delivering asset quality and loan file improvements.
With Suri at the helm, more than $1.4 trillion in closings have been protected through Q2 2021, where FundingShield has been able to provide additional loan level recourse and coverage to its clients not available elsewhere because of FundingShield’s unique data, risk management and workflows.
Suri oversaw the expansion of FundingShield insurance portfolio to increase the warranty and coverage in various loan programs to up to $10 million per transaction for clients of the firm. This was achieved during a time where the insurance markets closed out to various firms and/or premiums increased while coverage was more restrictive due to the pandemic. Revenues also grew by more than 800% in 2020. This is a direct result of FundingShield’s design, which not only leverages automation, AI and real-time data but also harnesses proprietary data and technology to find efficiencies in various markets.
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