Founder Andrew Liput conceived the idea of creating a vetting process for closing professionals nearly a decade ago. A staunch advocate for a standardized accreditation process and ongoing risk management process to protect banks and consumers from loss, Liput’s goal was to reduce the operational risks associated with unsupervised mortgage closings.
Liput and a team that includes experienced professionals from the banking, accounting, legal, insurance and IT industries founded Secure Settlements Inc. in 2012 with the goal of providing the level of vetting necessary for important financial transactions.
While Secure Settlements is the first company of its kind, federal regulators haven been recommending third-party vetting of vendor relationships in the mortgage industry since 2005, but very little has been done to comply with these recommendations until the passage of new legislation following the recent economic crisis. In April 2012, the recommendations on third-party vetting were transformed into requirements and, beginning in August 2012, all banks must have a plan in place to address third-party vendor risk or be in jeopardy of an audit.
Simply put – the need has caught up with the solution.
Secure Settlements understands the enhanced expectations banks face to ensure proper risk evaluation and fraud deterrent management in mortgage transactions and is uniquely equipped to fill the auditing void created by these new federal regulations with its proprietary risk management services.