PCN Network began as an attorney closing solution, facilitating real estate closing services for multistate licensed, nationally-scaled title agents across the country and helping them navigate the complexities of closing a transaction in the states in which attorneys are required to handle real estate closings (the “UPL states”).
By 2009, however, the real estate market had evolved. With hundreds of billions of dollars at stake and title agent defalcations at an all-time high, lender funding guidelines became more stringent. Lenders started to demand more from title agents and underwriters, forcing them to comply with a suite of rigid best practices and regulations in order to reduce risks.
By 2015, cyber thieves had realized the amount of funds involved and had targeted the real estate, title and settlement industry.
As funding became more complex and risky, agents and underwriters had little time or resources to keep up. The industry needed a simple solution that allowed it to keep pace with new funding security needs. Safe Escrow is our response to this challenge.
Centralized, Collaborative Funding with Safe Escrow
Safe Escrow is a technology-enabled service that strictly adheres to the control structures and management tools of a Fortune-500 treasury department, and places those elements in the hands of smaller agents.
Agents are able to interact in the transaction, print checks locally, and make changes at the closing table when necessary, while being protected by best-of-breed central management processes and technology.
Our Managed funding model was formulated with the goal of providing a safe and secure platform for the disbursement of escrow funds by title agents. The proprietary technology and service provided by Safe Escrow includes various methods of validation to protect against fraud and errors. It is no wonder we have received Soc 2 Type II and ALTA Best Practices certifications for each of the last 3 years.