SSI Begins Testing SafeClose QC Mobile App – NMP Skip to main content

SSI Begins Testing SafeClose QC Mobile App

NationalMortgageProfessional.com
Jul 18, 2013

Secure Settlements Inc. (SSI) has announced that it has developed a revolutionary, first to market mobile application, SafeClose, that will be utilized by vetted settlement agents to verify quality control (QC) measures, ensure best practices and educate agents about what to look for with respect to fraud and money laundering schemes at residential mortgage closings nationwide. SafeClose will also capture key loan data and transmit the information to SSI’s proprietary technology for analysis and reporting. The application is presently being beta tested with select settlement agents who are in the SSI vetted agent database. Agents use their SSI smart-photo ID card to log into the application, and proceed to verify various quality control steps have been followed. The agent certifies that the closing has concluded, all lender instructions have been followed, and no fraud has occurred. The application registers the date, time and physical location of the agent. It also provides references and primers on how to spot closing fraud, the signs of money laundering, best practices, and includes a fraud reporting function to notify law enforcement if fraud has occurred or is about to occur. "This new mobile app technology reflects our commitment to think outside the box and develop services and products that are on the cutting edge of risk management," said SSI President and CEO Andrew Liput. "We believe this product will act as a further deterrent to fraud, provide basic education about how to spot fraud at the closing table, and also collect valuable closing data.  This data will feed our advanced analytics to develop new data predictors to understand and track potential fraudsters before they strike.” The mobile app is expected to be launched nationwide, among all the SSI vetted settlement agent network, beginning Sept. 1.
Published
Jul 18, 2013
SEC: Angel Oak Capital Advisors Misled Investors

Company, portfolio manager agree to pay $1.825M combined in civil penalties.

Regulation and Compliance
Aug 10, 2022
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
As Expected, The Fed Raises Rate By Another 0.75%

Experts say housing industry will shrug off the latest increase.

Regulation and Compliance
Jul 27, 2022
AmTrust Ends 'No-Poach' Agreement, Pays $1.25M Fine In Deal With N.Y. AG

Company also agrees to cooperate with ongoing investigations of the title insurance industry.

Regulation and Compliance
Jul 25, 2022
NAR Chief Economist: Nationwide Home Price Decline Won't Happen Soon

Lack of inventory continues to support growth in prices, which have increased year over year for 124 straight months.

Regulation and Compliance
Jul 22, 2022
FHFA Director: Fannie, Freddie Need $300B Combined In Capital

So far, the enterprises combined have built $83.5 billion in reserves, or about 27% of the target.

Regulation and Compliance
Jul 21, 2022