The new feature adds wire fraud protection to the Warehouse Management System
ST. LOUIS -
Dec. 6, 2022 -
PRLog -- OptiFunder
SM the industry's premier Warehouse Management System (WMS), continues to expand its platform features, which now includes a layer of protection against wire fraud. The Wire Data Check feature:
- Instantly checks Wire Instructions against OptiFunder's extensive wire transaction database.
- Continuously monitors and detects changes in instructions up to and including the Funding process.
- Customizes the level of review to meet a lender's risk tolerance.
- Automates the wire instruction review process – no additional workflow steps required.
Brian Abbott, Chief Operations Officer for OptiFunder, notes, "Wire fraud represents meaningful risk to our mortgage banking clients and integrated warehouse partners yet most prevention efforts are manual and disconnected from the funding process itself. We are pleased to introduce Wire Data Check that replaces clients' existing internal processes to manage fraud with a built-in monitoring solution that runs continuously up to the point of funding providing transaction-
level confidence and protection on every loan."
Wire Data Check is the latest feature in the OptiFunder Warehouse Management System that provides a single solution for mortgage originators to manage the entire funding process across multiple warehouse partners from the initial funding through loan sale, purchase advice reconciliation, and final paydown.
Read the original article: https://www.prlog.org/12942933-optifunder-launches-wire-data-check-automation.html