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Require Holdings announced that its company, reQuire Real Estate Solutions of Virginia Beach, Virginia, is now in partnership with CertifID, a software company whose product uses two-factor authentication and deep personal metadata to securely identify parties in a real estate mortgage wire transfer.
reQuire Real Estate Solutions provides lender and title company customers with a patented digital process for tracking and reporting settled mortgage notes.
According to its website, reQuire’s Payoff Disbursement Package Generator “automatically validates, encrypts, and stores a property’s lien information in our release tracking database.”
“The long and short of it is … reQuire has over the years assembled a nice suite of products for the space, and we’ve known Al Will for over a decade,” CertifID co-founder and CEO Tom Cronkright told me over the phone. “He’s watched us take this thing from the ground, and he has a great sales team and we have tech, so let’s work together.”
Al Will is the CEO of Require Holdings, parent company of reQuire Real Estate Solutions.
Additional services offered by reQuire include streamlining title research and documentation, researching title defects, and now with CertifID, encrypting personal information and securing wire transfers at closings.
The real estate tech industry is traditionally focused on front-of-transaction business, such as digital contracts and rapid pre-approval processes. However, the greatest risk to consumers is the closing process, which remains a transaction’s most critical step and at the same time, its most paper-based and risk-prone.
This partnership is aiming to further protect all parties, including agents, buyers and lenders, in a real estate deal from the ever-growing threat of wire fraud.
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