Count on a safe loan closing
transaction, on time, every time.
Count on a safe loan closing transaction, on time, every time.
A nightmare scenario for any lender or homebuyer: right before closing, a scammer manages to trick the homebuyer into wiring the down payment, and the lender’s mortgage loan proceeds to a bogus account. Neither party realizes the hacker has misdirected funds. The deal is lost and the misdirected loan proceeds as an immediate financial hit to equity.
For more information, visit the FBI Internet Crime Complaint Center for news on internet fraud warnings and reported trends.
Dytrix provides customized solutions for lenders, giving them the ability to organize and qualify their closing agents. This ensures safe business online and mitigates risk with each transaction. Because Dytrix manages lender/client requirements, there are significant cost savings.
By assuming every internet-based communication involving the transfer of funds is fraudulent and requires validation, Dytrix has prevented nearly $5 million in lender losses from potential wire fraud.
Closing Agent Qualification Process:
- Agent background review
- E&O insurance review
- License verification
- Lender exclusionary list check
- OFAC check
- Compliance with ALTA’s best practices framework
Wire Validation Process:
- Authentication of recipient’s identity, address, email, and telephone number
- Confirm that the ABA routing is a valid US Bank
- Verify that the account number is associated with named bank
- Account type is acceptable
- Validation occurs on recorded line
What Makes Dytrix Unique
The Dytrix platform enables lenders to establish and monitor a database of closing agents specifically qualified to the lender’s requirements including exclusionary lists.
Manages Privacy Risks
The Dytrix platform covers the lender’s exposure to possible privacy violations and data breaches through a credit monitoring subscription. Additionally, Dytrix supports meeting the requirements of CCPA, the Shield Act, and other laws/regulations regarding consumer privacy.
Tried and Trusted Processes
The Dytrix platform ensures success with proven processes. Through years of working with lenders, Dytrix has mastered keeping transactions on schedule while meeting regulatory compliance standards.
Our Service Commitment
Secure Transaction Support—
On Time, Every Time
Learn how you can lower costs and
manage risks today.
Our Service Commitment
Secure Closing Transaction Support—On Time, Every Time
Learn how you can lower costs and manage risks today.