Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud, according to a report released Wednesday by FundingShield.

The portfolio of loans examined included residential, commercial investor and business purpose loans.

On loans that exhibited problems, the analysis found an average of 2.22 issues, which FundingShield says indicates a lack of appropriate controls by closing agents and lenders to identify and fix issues. 

“Q1 was a period where we saw some market improvements and volumes increasing as details ⇒

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