Order Insights helped secure more than 130,000 files in November by validating transaction data, notifying title agents of discrepancies, and identifying other indicators of potential fraud.
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As fraud continues to plague the real estate industry, First American Title Insurance Company has added real-time fraud alerts to its AgentNet technology platform.
Order Insights, a new fraud alert system, automatically validates transaction data, notifies title agents of file discrepancies and identifies other potential fraud risk indicators, resulting in 130,000 transactions in November First American announced Wednesday that it helped protect more than one file.
stephen vincini
“Dynamic fraud alerts help our agents provide their clients with the certainty and confidence they need to drive seamless real estate transactions,” said First American Title executive Stephen Vincini. As mentioned in the article. statement.
According to the FBI’s latest Internet Crime Report, real estate fraud totaled more than $145.2 million in 2023, ranking 11th among Internet crimes in terms of loss. First American Title’s parent company itself suffered a cyber attack last year that took its website offline.
Top internet crimes by type and amount of loss
“BEC” stands for “Business Email Compromise.” sauce: FBI 2023 Internet Crime Report.
The Order Insights Fraud Alert System is now part of AgentNet Services, First American Title’s digital storefront for products and services. launched In October.
Part of the First Americans AgentNet Technology PlatformAgentNet services offer a more efficient order entry process, flexible reporting and remittance options, and access to back office services and title experts when you need them.
The platform also includes AgentNet Knowledge, which provides underwriting guidance, education, and CE/CLE training courses. AgentNet Production, a cloud-based title and escrow closing solution. AgentNet Marketing is a secure portal for working with on-demand, customized quotes, property reports, and agricultural tools. AgentNet Finance provides compliance-driven banking and escrow accounting.
“Along with AgentNet Knowledge’s fraud prevention tools, tips, and notifications, a one-stop-shop for industry-leading underwriting expertise, Order Insights is another high-value addition to the AgentNet platform, providing enhanced real-time “It sets the stage for communication. And there will be fraud prevention tools in the near future,” First American said.
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