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
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021
Waterstone Mortgage Names VP Of Compliance

Waterstone Mortgage Corporation named Kris Barros as the company's vice president of compliance.

Community
Oct 08, 2021
Battling The ‘Giant Purple Snorklewacker’

The confirmation of Rohit Chopra as CFPB director has the mortgage industry anxious, but former MBA CEO David Stevens offers some advice: follow the rules.

Regulation and Compliance
Oct 08, 2021
The Compliance Contradiction

Staunch compliance stances often lead to contradictory actions.

Regulation and Compliance
Oct 06, 2021