Closing Agent Risk Management

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Settlement Agents have access to a lenders funds and important security documents (note and mortgage).  They also have access to a borrower’s complete personal and financial history (on the Loan Estimate and Closing Disclosure) including their SSN, DOB, home address, place of business, bank accounts and assets. Prudent risk management and regulatory consumer protection directives require lenders to know their partners and evaluate and monitor them for risk at all times.  Documented procedures and reports must be available when audited. While these professionals may be licensed, be an association member, or have contracts with large insurers, this is not an acceptable substitute for independent risk evaluation and monitoring required of lenders by government regulators.

Why is Secure Insight the best compliance partner you can find?  Besides being the first ever company to focus on closing agent vendor compliance, SI’s approach to risk management is independent, comprehensive, proven and validated by third parties.  Secure Insight voluntarily complies with FCRA rules in that no derogatory information uncovered in any evaluation is ever published without an automatic appeal and right to explain/correct/supplement by the vetted agent. SI adheres to strict data security and privacy rules. All information obtained from vetted agents is stored on secure servers and backed up to the Cloud using ARMOR technology.  All SI employees are themselves screened, and the workplace is secure and monitored. Private data is handled in accordance with the protocols established by international standards:  SI complies with PCI, IAPP and SOC II data privacy control requirements. It’s internal financial, operating, and data controls have been inspected and annually certified by a CPA firm to meet SSAE16 requirements (successor to SAS70).  Secure Insight carries appropriate errors & omissions insurance and cyber liability coverage.

The Secure Insight risk platform has been evaluated and approved by certain syndicates of Lloyd’s of London® to support Mortgage Settlement Insurance™ covering lenders, investors and consumers from risk of loss from fraud and certain negligence in connection with residential closings.  Secure Insight is the only company that has been endorsed by certain syndicates of Lloyds of London for the accuracy and value of its risk management platform.