Capital Title Partners with ClosingLock to Enhance Security in Real Estate Transactions
Capital Title Insurance Agency, the title agency of Michigan's largest and leading Real Estate One Family of Companies, is proud to announce its strategic partnership with ClosingLock, a renowned provider of wire fraud prevention and identity verification software for the real estate industry. This collaboration represents a significant step in reinforcing the security and integrity of real estate transactions.
October 12, 2023
ClosingLock is the industry's foremost solution designed to shield title companies and their valued customers from a range of cyber threats, including social engineering, email spoofing, clone phishing, email hacking, imposter fraud, and compromised accounts.
Wire fraud remains a significant concern in real estate transactions, with cybercriminals continually seeking opportunities to steal funds by hacking emails, impersonating title companies, and spoofing real estate agents. In 2021 alone, over $350 million was pilfered from 13,638 real estate fraud victims. ClosingLock addresses these threats by providing encrypted access to download wire instructions, upload bank information, share documents, eSign paperwork, and complete identity verification.
“Keeping our clients protected is our highest priority here at Capital Title,” shared Tom Lico, President of Capital Title Insurance Agency. “Adding this heightened security empowers us to process each closing transaction with the utmost confidence, ensuring that all parties involved have the authority to sign, and that funds are delivered as intended.”
With this partnership, Capital Title is now providing its clients with key benefits that include:
This partnership reinforces Capital Title's unwavering commitment to safeguarding its clients and their most significant investments. Together with ClosingLock, Capital Title aims to provide a more secure, seamless, and reliable real estate transaction experience.
- A step-by-step guide to accessing wiring instructions using ClosingLock.
- Comprehensive support on how to verify your identity securely within the ClosingLock platform.
- A detailed guide on securely sending wiring instructions via ClosingLock.
- Step-by-step instructions for uploading documents and eSigning securely through ClosingLock.
- A simple three-step experience with ClosingLock (all of which can be completed on a smartphone device).