PayoffProtect validates the authenticity of wiring instructions to ensure payments aren’t sent to fraudsters.
Request a DemoProcess is manual.
It can take hours to validate a payoff.
Inconsistency across payoffs.
Every lender has a different process.
Multiple points of vulnerability.
Options for insuring the risk are limited.
2 min to complete.
Eliminate callback procedures to lenders.
+95% of payoffs validated.
Streamline your internal validation procedures to lenders.
$1 million of insurance.
Receive insurance on every payoff.
Verification rate
Transactions protected
Amount of fraud caught
Input wiring details, PayoffProtect does the rest.
CertifID status is achieved via the proprietary PayoffProtect solution.
Say goodbye to time-consuming and risky payoff verification.
No, PayoffProtect validates the accuracy of wiring instructions to ensure that a payoff wire is legitimate and not fraudulent.
Our recommendation is to use the tool for every single payoff received. Oftentimes the title company will have templates on the bigger volume lenders/servicers and these are the ones that get targeted by fraudsters the most. It is much safer to input all payoffs received into PayoffProtect than going back and forth between a payoff statement and a spreadsheet to check if the numbers match.
Any payoff pertaining to a mortgage, HELOC, or commercial loan should be submitted into PayoffProtect. Any payment being sent to a personal account should use the CertifID core product to confirm those wiring instructions.
No, the payoff amounts are always subject to change and should be validated independently by the title or escrow company before the wire is sent.