HousingWireHousingWire
Every season is fraud season — and title firm First American is not messing around. On Wednesday, the Big Four title company announced the launch of Order Insights, a real-time fraud alert system.
The tool is available to all First American policy-issuing title agents and is now included with AgentNet Services, First American’s digital title product and service storefront.
According to a press release, when a transaction is entered into Agent Services, Order Insights automatically validates the transaction data. It notifies title agents of file discrepancies and identifies other potential fraud risk indicators.
“Order Insights is another example of First American’s leadership in the digital transformation of title and settlement and our dedication to helping our valued agents protect their clients’ transactions and grow their businesses,” Stephen Vincini, president of First American Title’s agency division, said in a statement. “Dynamic fraud alerts help our agents deliver the certainty and trust needed to power seamless real estate transactions for their clients.”
In November alone, First American reports that Order Insights’ real-time fraud analysis helped to protect more than 130,000 transaction files. This is good news considering that the FBI recently issued a public service announcement warning that fraudsters are using generative AI to create more sophisticated fraud attempts.
In addition, CertifID has recently reported several prevented fraud attempts, including a $291,000 mortgage payoff fraud attempt in Missouri.
