Title | Pipe™ Frequently Asked Questions
At Title | Pipe™, we understand that real estate transactions are complex. Our platform was designed to secure and enhance every transaction. Let’s talk about the common questions about our platform and how we protect your transaction.
Are you ready to secure a better transaction?
Title | Pipe™ is the only security-focused, neutral real estate collaboration platform that eliminates wire fraud and identity theft opportunities for every transaction. Title | Pipe™ allows transaction participants to quickly and easily be brought together to access transaction details, engage with other transaction participants, and share required documents to properly close your transaction.
Integrated with DocuSign, Title | Pipe™ further enables quick and secure E-sign options for your document needs. Additionally, Title | Pipe™ provides pro-active notifications according to each users’ communication preferences to ensure that transaction participants are quickly effectively made aware of pertinent updates to transaction status, participation, documents, tasks, and funding information. Ensuring a more streamlined and transparent closing experience, while reducing the risk associated with wire fraud and identity theft.
Title | Pipe™ was built for real estate transactions. This means that the application can (and should) be used by anyone involved in a real estate transaction. Every real estate transaction carries the need to securely and efficiently gather and share important transaction details and documents that are unique to the transaction itself. Title | Pipe™ ensures that all transaction participants – no matter how specific their role may be, with the ability to quickly access transaction details, share important information and documents and receive notification on updates to the transaction. Using Title | Pipe™ ensures that the right people have access to the right information, at the right time, and in the right way
Easily. There are 2 primary mays to initiate the use of Title | Pipe™. 1) Use the “Sign Up” button to create a new account* or 2) Receive an emailed invitation to join a transaction or company that has been started and follow the guided process.
Title | Pipe™ uses enterprise level encryption to secure all information in the platform. We are a cloud-based software as a service platform using multiple layers of security, authentication, and encryption to protect information at rest and in transit. We use similar security standards and practices to that of many major financial institutions. Information, documentation, and instructions reside in the protective “pipe”, for individuals to access information rather than pushing this sensitive information into unsecured spaces.
Transactions in Title | Pipe™ are started by specific roles, such as escrow officers, agents, transaction coordinators, lenders, and mortgage brokers including all support staff. All other roles join a transaction by being invited by another transaction participant.
We provide a web-based service for securely communicating, sharing documentation, and delivering wire transfer instructions to all transaction participants. Most closing companies rely on emails or phone calls to communicate wire transfer instructions and other documents. Unfortunately, emails and phone calls are easily hacked and spoofed. While those options are great for communicating insecure information, sensitive information such as wire transfer instructions should be transmitted securely using our application. Using Title | Pipe™ eliminates wire fraud and identity theft opportunities for every transaction.
Encrypting email is almost as old as email itself and there are many protocols and implementations. While it is difficult for a hacker to modify an encrypted email, this does not solve the major issue of spoofing emails. Additionally, encrypted emails require all participants to active participation to ensure the email stays encrypted. An encrypted email that is spoofed looks the same as a legitimate encrypted email. Therefore, nothing has been accomplished in trying to prevent fraudulent wire transfer emails. Furthermore, encrypting emails adds overhead to all receiving participants by requiring passwords and encryptions keys, which also need to be emailed.
Definitely, and most closing companies try to make their customers aware of the dangers of wire fraud via multiple outlets such as warnings, waivers, and email signatures. Unfortunately, the buying experience is overwhelming for many people and they become victims of wire fraud, even though they were warned ahead of time. Over 50% of recent buyers are still unaware of wire fraud in real estate. Regardless of fault, nobody in the process wants to see a buyer or lender lose their payment. Title | Pipe™ is a passive solution to wire fraud and identity theft.
Closing companies and lenders have taken a step in the right direction to create what we call a ‘silo.’ A silo is a portal that is only beneficial for one party of the transaction and still includes emailing personal information and wiring instructions. Title | Pipe™ is a neutral platform. We provide a single location for all transaction participants to securely manage a (or every) transaction, which is beneficial for all participants. No more remembering multiple emails and passwords. Create a predictable and secure process to conduct your business
Secure Communication for Every Role and Every Transaction
Use Title | Pipe™ to open escrow for your next transaction