Andy White, Founder and CEO of Closinglock, reflects on an incredible year, securing one million home sales through the platform and key takeaways for the industry.
On October 16, 2024, Veterans Title in Florida closed on our one-millionth real estate transaction through our platform.
As we prepare to celebrate Thanksgiving and 2024 comes to a close, I want to take the opportunity to reflect on this incredible milestone and some of the key takeaways I’ve learned thus far.
Title is vital
One million! It can be difficult to conceptualize. We can only truly understand its magnitude when we consider it through the lens of each individual’s unique journey toward homeownership. How many years did it take them to save for their deposit? What made them take the next step? Did they get a new job? Do they have a growing family? Did they receive an inheritance?
Now imagine how each of those million people’s worlds would be turned upside down if all of it were lost to fraud.
When you think about it every day, it can be easy to overlook its significance. But this milestone isn’t just about a number—each transaction represents a person or family’s largest investment and the trust placed in us to protect it.
If homeownership is a tenet of the American dream, then settlement companies are its unsung heroes, and that responsibility cannot be taken lightly. And, based on the work we’ve been able to do with settlement companies thus far, it’s not. But that doesn’t mean it’s easy to stay ahead of fraud and keep up with homebuyer expectations.
You have to adapt to stay ahead
When we first started, we focused on building a reliable, secure product to address real estate transaction wire fraud. Over time, as the threat of fraud increased, we had to adapt quickly—enhancing scalability, adding new features, and developing more sophisticated security measures.
Now, we’re not only focused on keeping our customers safe but also on making their workflows more efficient and their lives easier. So, we’ve expanded far beyond wire fraud prevention to offer safer digital payments, ID verification, and the industry’s highest insurance coverage as an additional safety net. Our mission to protect real estate transactions is vital because it’s not just about money—it’s about people’s peace of mind, their future, and their trust in the system.
Fraud prevention is a team sport
What has surprised me most while building Closinglock is the level of industry-wide adoption and how our customers have been so vocal in advocating for secure practices. We’ve learned that combatting fraud requires a team effort, so seeing how trusted we’ve become in such a critical sector is incredibly inspiring.
The title industry carries a huge responsibility on its shoulders, and we feel privileged to lighten some of that load. Partnering with settlement companies has been one of the most rewarding parts of this journey. Title professionals are at the front line of real estate transactions, and they have an in-depth understanding of the risks involved. Collaborating with them has allowed us to create solutions that are practical, impactful, and truly needed in the industry. It’s a privilege to work with people who share our commitment to protecting people as they buy homes.
Looking forward, we hope to expand our solutions even further to keep pace with the changing landscape of cybersecurity in real estate. We want to keep innovating so we’re always one step ahead of emerging threats. We also hope to deepen our relationships within the title industry and become the industry standard for secure transactions.
We win together
I’m so proud to have created a product that genuinely makes people safer, and it’s immensely rewarding to see that we’re making an impact on this scale.
But as much as we rely on the trust of our title partners, none of this would be possible without our dedicated team. Every member of Closinglock is driven by the same commitment to safety and security, and it’s this shared purpose that has brought us to where we are today. We’re excited to see what’s next and to continue protecting even more families and businesses in the future.
Title professionals protect billions of dollars exchanged in real estate every year. Thank you for being an integral part of this journey. Here’s to continuing to protect and transform real estate transactions for years to come.
Wishing you a safe and happy Thanksgiving!
Andy
To learn how Closinglock can protect your business from fraud, streamline operations, and make your job easier, request a demo with a member of our team. Closinglock is a fraud-prevention software revolutionizing the real estate industry’s transfer of funds and information. Title companies can send wire instructions, securely exchange documents for e-signing, and receive payments from one secure platform.