It is said that home ownership is the American dream, and the family home is often an American’s most valuable asset. Anyone who has purchased a house knows it can be an arduous and complicated process. Determining an affordable price range, finding a desirable neighborhood, choosing styles, and finding a well-built structure are all part of home buying, but once a choice has been made, the hard work of a real estate transaction truly begins. Title companies help navigate the complexity of purchasing a home with title search and other services.
According to the financial information site Investopedia, “The term title search refers to the examination of public records to determine and confirm a property’s legal ownership. Title searches are conducted through many sources, including deeds, tax liens, land records, court judgments, among others. Normally conducted by title companies, searches can be ordered by individuals and businesses at any time to find out what, if any, claims or liens are on the property in question. A clean title is required for any real estate transaction to be completed. Transactions cannot be completed if a title search determines there is a lien on the property.”
More Than Just Title Search
Because of the vital role a title search plays in the purchase of real estate, firms specializing in title searches provide an invaluable service to both buyer and seller. Known as title companies, these firms offer an array of complementary services that combine and coordinate many tasks under one roof, making it easier for all parties. Title companies may offer many different services such as:
- Title search and clearance
- Title insurance
- Escrow services
- Purchase and sale agreement review
- Property surveys and inspections
As you can imagine, all these different tasks involve a lot of paperwork involving law firms, banks and mortgage brokers, insurance companies, and other service providers involved. Some banks, and especially larger institutions like J.P. Morgan and Citibank’s CitiConnect® file exchange system, require that any data transfers to their systems comply with their particular standards for transport security and encryption. Coviant Software’s Diplomat MFT secure managed file transfer (MFT) platform has you covered there.
Handling Sensitive Information
That’s important when there is a lot of sensitive information that has to be coordinated and moved in a timely manner from place to place to ensure all parties are well represented in the transaction. These days a lot of that information is digital, and the files include personally identifiable information (PII), financial account information, and other data that may be protected by law. That means it is important that all file transfers be managed securely and reliably. Secure MFT software, like Diplomat MFT, have proven to be a valuable tool for title companies and other organizations that send and received sensitive financial data.
What features set MFT apart and that organizations engaged in the transfer of regulated financial and personal require?
- Automation – automating manual processes increases operation efficiency and reduces the chance for operator error leading to data breaches.
- Encryption – file encryption and end-to-end transport encryption prioritizes security and protects sensitive data at rest and in transit—when it is most vulnerable.
- Auditing & Archiving – full audits on all transfers and system configuration ensures compliance with laws, while file archiving and retention allows you to track file movements.
- Alerting – job status alerts mean you can quickly and effectively identify and correct errors if they occur, and complete required transactions in a timely manner.
With Diplomat MFT these features are enhanced by a product that is easy to install, configure, and use even for staff who are not tech savvy. And for additional operational integrity our software includes role-based administration, simple workflow development with just enough customizability to meet specific organizational or industry needs, and the assurance Diplomat MFT can handle your data volume and transfer frequency at any scale. Coviant Software is also known for its passionate customer support, independently rated as the best in our industry, so you know we will go above and beyond to exceed your expectations. Finally, our award-winning software is recognized as the best value in the industry, with ethical and transparent pricing so you know what you are getting with no surprises.
Do it Right with Diplomat MFT
If you are a title company looking for a secure, efficient way to safely manage, send, and receive your clients’ business-critical files, Coviant Software can help. Diplomat MFT can streamline your regularly scheduled data transfer processes, as well as accommodate transfers that need to happen off schedule. And whether those files contain regulated data or merely need to be transferred reliably to complete transactions quickly, easily, and on time, Coviant Software can help.
Diplomat MFT is engineered to do what you need it to do simply, efficiently, reliably, and automatically, making your organization more productive. So if you’ve got questions about how secure managed file transfer software can help you manage data more safely and efficiently, reach out to get answers or a demonstration (from an expert).