Uniquely Dytrix

Totally Outsourced Solution

Dytrix provides a totally outsourced solution for lenders to manage the wide range of closing agents and the myriad of laws and regulations relating to third-party providers. These distinctive elements of the Dytrix process enable clients to lower net manufacturing costs by eliminating repetitive tasks by fulfillment personnel.

Unique Lender Database to Lender-based Requirements

The Dytrix platform uniquely enables lenders to establish and monitor a database of closing agents specifically qualified to the lender’s requirements including exclusionary lists.

Manages Privacy Risks and Lender Exposure to Consumer Privacy Laws

The Dytrix platform uniquely covers the lender’s exposure to possible privacy violations and data breaches by closing agents by providing a 1-year credit monitoring subscription to the lender/client’s borrower in the event the borrower’s privacy is violated by the closing agent involving data provided by the lender in conjunction with a Dytrix managed loan transaction. In addition, the secure Dytrix database closing agents qualified to the lender’s standards, supports meeting the requirements of CCPA, the Shield Act, and other laws/regulations regarding consumer privacy.

Complete Bank Account Authentication and Validation

Dytrix presumes every email is possibly fraudulent and has developed processes to authenticate the contact information of the closing agent/recipient before qualification and wire validation.

Agent/Recipient Authentication

This authentication process confirms the following for the recipient of the electronic funds transfer:

  • Agent legal name
  • Agent address
  • Agent email
  • Agent phone number

Bank Account Validation

Each bank account undergoes a managed validation process every 6 months:

  • The ABA routing is a valid US Bank
  • The account number is associated with named bank
  • Account type is acceptable (checking/escrow account)
  • Validation occurs on recorded line

Get a free assessment and see how the Dytrix process can lower your costs and mitigate the risk of wire fraud.