First American Launches Real-Time Fraud Notification System to Enhance Transaction Security

First American launches Order Insights, a real-time fraud alert system, enhancing transaction security for agents amid rising fraud threats in real estate.

First American is stepping up its fight against fraud with the introduction of Order Insights, an innovative real-time alert system aimed at enhancing the security of transactions for their agents.

Order Insights Features

The prominent title company, part of the elite Big Four firms, made this exciting announcement on Wednesday.

Order Insights is now accessible to all title agents issuing policies with First American and is fully integrated into AgentNet Services, the firm’s all-encompassing digital platform dedicated to title products and services.

According to an official press release, this groundbreaking system automatically checks transaction information every time a file is accessed within Agent Services.

This proactive functionality empowers title agents by notifying them of inconsistencies and highlighting potential fraud risks.

Commitment to Digital Advancement

The president of First American’s agency division emphasized the company’s dedication to digital advancement within title and settlement services.

He pointed out that real-time fraud alerts are essential.

They equip agents with the tools needed to ensure safe and reliable experiences for their clients, paving the way for smoother real estate transactions.

In a demonstration of its effectiveness, Order Insights protected over 130,000 transaction files in November alone.

This achievement comes at a crucial time, with the FBI issuing alerts about a rise in fraudulent schemes, some of which employ advanced generative AI techniques for more sophisticated deception.

The Urgency of Fraud Prevention

Moreover, CertifID recently reported a series of successful fraud prevention efforts, including a notable instance in Missouri where a mortgage payoff scam attempt totaled $291,000.

These cases underscore the necessity for robust fraud detection systems in the current real estate landscape, highlighting the urgent need for vigilance in securing transactions.

Source: Housingwire