Westcor Land Title Insurance Co. announced a Michigan-based title agency successfully used Westcor’s val-ID verification tool to protect their business and clients from a recent real estate fraud attempt.
The Michigan agent partners with Westcor’s Central States Regional Team to provide title insurance services to homebuyers.
The real estate transaction had several indicators of potential fraud, according to a release from Westcor. Most importantly, the seller was not able to complete the ID verification through val-ID. Due to these cautionary signs, the fraud was thwarted, and the transaction stopped.
“Westcor is committed to bringing some of the best products and services to our agents to help them combat the ever-growing problems of identification fraud,” Westcor’s Senior Vice President Richard Murray said in a release. “We are looking to release other exciting tools in the coming months to help protect our agents and our insureds from other threats such as wire fraud and fraudulent payoff information."
Westcor launched this verification tool for title agents in August 2024. This solution, powered by the technology of Intellicheck and engineered by GridBase, has led to customer success stories as agents enhance their due diligence processes, mitigate risks, prevent fraud, and improve overall transaction integrity.