SettlementOne and Secure Insight Partner to Combat Mortgage Wire Fraud

SettlementOne, a provider of credit reporting, data, and verification solutions, and Secure Insight, a vendor management and wire fraud solution provider, have announced a strategic partnership. This collaboration aims to offer mortgage lenders immediate verification of settlement agent risk and protection against fraudulent wire transfers.

The new offering is designed to address the rising concerns over phishing and fraud attempts within the mortgage industry, which often target settlement agent accounts. The partnership provides in-depth insights into over 300,000 entities, including title agents, lenders, and closing companies.

SettlementOne has previously focused on delivering credit reporting and verification services. Secure Insight specializes in vendor management for closing table services, offering solutions to mitigate fraud risks during real estate transactions. The partnership is expected to significantly enhance security across the industry and reduce financial losses.

Through this alliance, clients will gain access to Secure Insight's comprehensive database, which includes data on market participants and potential risks. This is anticipated to streamline the mortgage closing process while simultaneously improving its security.