The company says its software locks down the typically manual process surrounding the payoff request with machine learning to verify the wiring instructions
Eliminates the need for paper checks by allowing title and real estate agents to request and receive electronic disbursement of earnest money and cash-to-close funds within the platform
'Fraud is at an all-time high as global criminal networks prey on the shift to virtual communications and electronic transfers ignited during the Covid-19 pandemic' — Tyler Adams
In addition to title fraud, a new report by FundingShield also noted a 90% increase in state licensing issues between the second and third quarters of 2020
For a fee, the company will cover payment in case of fraud
Cooperative is aimed at streamlining closings while maintaining security for agents, buyers and lenders
Michigan-based titled company is cracking down on real estate fraud with identity confirmation, device authentication and two-factor verification