Verify payoff accounts in real time
On the hunt for big paydays, cyber criminals are targeting loan payoffs due to their high value and time until detection. But with Closinglock’s payoff verification technology, you can instantly find out if a payoff account is legitimate, or fraudulent.
Immediate
Verifying account and routing numbers takes just seconds to complete.
Reliable
Results are backed by an extensive database of legitimate lender accounts.
Efficient
No longer waste valuable time calling and verifying information with lenders.
Payoff verification has never been simpler
Closinglock’s intuitive, easy-to-use interface takes the headache out of payoff verification. Simply access the tool from the home screen, enter a few inputs and you’re done. It’s as easy as that!
1.
Once logged into the Company Portal, select Payoff Verifications in the main menu
2.
Enter in the routing, account and loan number to initiate the payoff verification
3.
Once submitted, you’ll immediately receive detailed verification results
On-demand webinar: Payoff Fraud Revealed
In this webinar, we were joined by Lea Johnson, Director of Accounting at Proper Title, to unpack the ins and outs of mortgage payoff fraud.
We discussed the tactics used to commit payoff fraud, what to look out for and the steps you can take to better protect your transactions.
"Closinglock offers us the assurance that our payoff wires are verified and accurate every time we’re clicking that send button. We just type in the account information, the loan number, and it generates a validation in seconds.”
Lea Johnson
Proper Title
Director of Accounting
Frequently Asked Questions
Can Closinglock verify accounts from Mr. Cooper? Credit Unions?
Which database does Closinglock use for payoff verifications?
Is there a limit to how many payoff verifications I can run?
The use of Closinglock’s payoff verification tool is unlimited and available to all users on the account.
Closinglock has protected over $250B for clients in all 50 states.
Join the thousands of title agents and attorneys who use Closinglock to eliminate fraud and streamline operations.