EnTitle First is proud to announce that we successfully passed the Secure Insight’s vetting process and continue to take measures to keep your security a top priority.
Secure Insight is the mortgage industry’s only third-party closing professional verification service and has established practice and security standards that is verified through public and private databases. The Secure Insight process delivers the most advanced closing fraud risk analysis in the industry and meets all risk management requirements for third-party vetting of vendor relationships, as outlined by CFPB, OCC, HUD, FDIC, Fannie Mae, Freddie Mac and the National Credit Union Administration. The purpose to create a national database of bank approved closing professionals where the real estate industry can know their partners at the closing table.
What does this mean for buyer and sellers of real estate?
Most buyers, sellers and agents do not have the time, knowledge or desire to vet all the various closing companies prior to placing their order. What is their office security policies for private information? What is their practice for accounting of funds? What procedures are in place for accepting and disbursing funds? and the list of items of concern to buyer and seller goes on. Simply being vetted and approved allows you to have an added layer of comfort that your working with a responsible closing company.
Even though the application process typically takes a closing company about 30 minutes to complete, many never apply as the process is through. Further, of the companies that do apply, only 85% of applicants meet the high standards for approval.
To lean more about Secure Insight, please visit their web site or contact us. We are here to help you through your real estate transaction.