Our team at National Integrity Title Agency (NITA) has implemented a new software, Closinglock into our title process to protect our clients from potential fraud risks. Closinglock is a new kind of software that is taking the real estate industry by storm. Closinglock helps companies like NITA overcome critical challenges from wire fraud to property seller impersonation. This new platform is easy to use and streamlines the entire title process.
How Does Closinglock Help With The Title Process?
This new software not only helps protect law firms, and financial service providers, but it also protects title companies through its unique program. This program works through many different aspects to protect us from fraudulent activities. These aspects involve:
Wire Instructions
Closinglock allows for potential sellers and NITA to send and receive wire instructions through a secure portal to prevent any fraud or third parties from obtaining this information.
Secure Payments
In the Closinglock program, is an area for clients and sellers to make earnest money deposits. This part of the program also allows for a cash-to-close process as good funds.
Identity Verification
The software forces every user to go through an identity verification process to ensure everyone is who they say they are. Eliminating most of the potential fraud threats right at the start.
Payoff Verification
Closinglock confirms loan payoff accounts and routing numbers in real time.
Document Exchange
This software allows for NITA and clients to send documents back and forth securely and it alerts each party with status updates.
E-Signing
This software also grants users the ability to request and receive government compliant e-signatures.
