NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pelican Point Capital Partners, LLC., announced that it has further increased its ownership stake in FundingShield LLC, a financial technology firm focused on risk mitigation in mortgage closing protection letters (CPLs). The company is primed to secure additional sizeable contracts from household name lenders which should set the company on an aggressive growth pattern for 2015 with both mortgage lending and title insurance companies as target clients.
“The increased regulatory, compliance and narrowing margin for error in the mortgage industry has generated a hypersensitive need to ensure operational efficiencies and controls. Further challenging this is the need to quickly close and fund loans to remain competitive in the marketplace”
FundingShield’s CEO Adam Chaudhary said, “The product is a unique offering in the mortgage closing risk arena providing verification of closing agents and the parties to a closing. The recent regulatory changes are sparking an added demand from groups looking to isolate defalcation risk at mortgage closings & for groups looking to manage improperly populated documentation being approved given how sensitive the market has become.”
FundingShield’s products complement and in many cases greatly strengthen the internal control and compliance efforts of Mortgage lenders, banks, credit unions and other participants to a mortgage closing. FundingShield is gaining interest from many compliance & operations department heads utilizing the tool to help monitor and control closings across lending platforms to improve visibility & control of the closing process.
“The increased regulatory, compliance and narrowing margin for error in the mortgage industry has generated a hypersensitive need to ensure operational efficiencies and controls. Further challenging this is the need to quickly close and fund loans to remain competitive in the marketplace,” said Shad Quraishi, Co-CEO and Co-Founder of Pelican Point Capital Partners.
Further information on Pelican Point Capital, its partners and advisory committee including bios for each, can be found at the Pelican Point Capital Partners website here. Further Information on FundingShield and Its products can be obtained by emailing queries to info@PelicanPointCapital.com or at the contact below.