Settlement agent bank account verification service provides an instant validation of bank account ownership to avoid delayed funding.

• • Automated validation available within the LOS to verify settlement company wiring instructions at the loan-level.
  • Confirmation to protect against business email compromise and email account compromise schemes.
  • Extensive database confirms ABA and account number that are associated with account name in wiring instructions.
  • Consolidated report of verified account information for loan file documentation and audit trail.

Business Data Validation tool performs key due diligence checks on settlement companies to keep lenders compliant and protected.

• • Automated company screening report available via the LOS.
  • Loan-level settlement agent due diligence report confirms license details and sanction history, searches industry watchlists, and scans media sources for mortgage fraud reports.
  • Deeper research report available, with additional secretary of state and court record searches included.
  • Reports provide audit trail of service provider due diligence process for regulator audits.
  • Multiple ordering options including loan-level and batch service.
  • Company monitoring services available.