Most real estate fraud – wire theft, title insurance fraud (failing to pay of liens), and seller fraud – requires the complicity of a settlement agent.
And while fraud can take place in any part of the loan process, you are most at risk at the closing. Even a seemingly minor mistake in disclosure forms may lead to a negligence claim against you.
As you bear responsibility for the actions of all parties involved in the closing process, you need Secure Insight. The most comprehensive closing agent verification process in the industry.
Learn how Secure Insight (SI) has successfully prevented fraud in the following instances:
Fake Identity
SI has uncovered fake title & settlement firms created to divert funding wires, preventing theft of funds.
Unlicensed
SI has stopped transactions attempted by unlicensed individuals and entities.
Uninsured
SI has alerted lenders where an agent or attorney was uninsured or underinsured, or where insurance has lapsed.
Litigation
SI has assigned risk alerts where attorneys and title agents were active parties to significant real estate fraud lawsuits.
Trust Accounts
SI has uncovered fake trust accounts, personal accounts, business accounts used for trust funds, accounts with NSFs, and fraud alerts.
Criminals
SI has prevented a closing where an attorney had been indicted for real estate fraud but was still doing business.
Internal Controls
SI has alerted lenders where a closing firm has failed to identify wire fraud and consumer protection controls.
Change in Risk
SI’s live database has informed lenders mid-process that an agent’s risk rating had changed from low to caution or high.
