[PRESS RELEASE] CloseSimple Launches Integrated Identity Verification & Wire Fraud Solutions for The Title Industry

Minneapolis, MN, May 21, 2024 -- CloseSimple, a leading innovator in the real estate industry based out of Minneapolis, MN, announced today that it has launched multiple new portal features designed to fight seller impersonation fraud and wire fraud

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Integrated seamlessly into the CloseSimple Portal, these features provide the opportunity for Title Companies and Real Estate Attorneys to consolidate the full consumer closing experience under one platform. Consolidation is more than just an opportunity for cost savings. It’s a strategic directive to bring simplicity to a confusing process, provide a best-in-class consumer experience, all with better security and risk mitigation in the process.

"We all know that wire fraud and seller impersonation fraud continue to run rampant in our industry.” said Paul Stine, CEO and Co-Founder of CloseSimple. "Over the last two years, we’ve been proving that we can drive consumer engagement through our portal at an unprecedented rate. That engagement is creating an avenue for introducing new and innovative ways to educate buyers throughout the closing process. It’s also creating new opportunities for us to identify fraudulent sellers far earlier in the process.”

“The solutions that CloseSimple has developed have become the first line of defense in our constant fight against seller impersonation fraud.” said Mike Hayden, a CloseSimple customer and Assistant Vice President at Pioneer Title Agency in Arizona. “We now know within seconds of opening a file if a seller poses a threat, and over the past year the CloseSimple solution has played a big part in successfully identifying multiple bad actors who have attempted to sell properties fraudulently.”

Brett Beckett, Vice President of Finance and Strategy at Independence Title added, “We put this solution through the paces prior to rolling it out and were impressed with the results. CloseSimple continues to help us automate fraud solutions that used to take valuable time away from our escrow teams.”

“With so many disparate technology solutions for various parts of the closing process, it’s no wonder buyers are confused or caught off guard when they receive a fraudulent email about ‘new’ wire instructions.” said Nate Niemi, CTO and VP of Product at CloseSimple. “And in today’s market environment it’s no surprise that fraudulent sellers are making it deep into or all the way through the closing process. Our solutions are putting the title industry on the offensive instead of constantly being on the defensive.” 

CloseSimple’s wire fraud and identity verification solutions are now available as part of a full customer experience package, driven by best-in-class integrations with SoftPro, RamQuest, and Resware, and featuring the mobile friendly CloseSimple Collaboration Portal, where you can easily and securely send and receive documents, complete e-signings, capture buyer and seller information via forms, and much more.


About CloseSimple

CloseSimple, based out of Minneapolis, MN is a high-growth, software-as-a-service (SaaS) solution used by title companies, escrow companies, and real estate attorneys to enhance the experience of closing on a real estate transaction with automated text message updates, custom branded email, the Pizza Tracker for Title™ visual timeline, and client-facing portal. CloseSimple's platform leverages strategic integrations to bring buyers, sellers, realtors, lenders and attorneys into one digital closing experience, driving efficiencies, consistency in process, and differentiation in the market for its customers.