Safe Escrow
A PARADIGM SHIFTING APPROACH TO ESCROW MANAGEMENT
About PCN Network
PCN Network has developed the Safe Escrow Service from its experience in funding over 100,000 transactions in the past 8 years. Our experienced management team which includes Certified Public Accountants and Attorneys has developed sophisticated and well controlled processes to assure our large multi-state title agent and underwriter customers that we can manage their funding in a safe, secure and auditable manner. We have developed our Safe Escrow proprietary patent-pending technology that enables us to offer the benefits of a centralized control structure, proper segregation of duties, secure data center and other important benefits to agents of all sizes. The Safe Escrow Service will provide a flexible and cost effective way to manage your risk of funding and meet your compliance requirements.
PCN Services
Safe Escrow’s Managed Disbursement solution model provides lenders, underwriters and title agents with a compliant and secure method of handling mortgage proceeds. Lenders and title underwriters no longer need to worry about the management of settlement funds. Our Safe Escrow platform provides experienced accounting management and separation of duties, combined with sophisticated technology solutions, as well as check management and the ability to print checks at the closing table.
We provide services and solutions to customers including but not limited to:
- Title Agents
- Vendor Management Companies
- Title underwriters
- Lenders
THE SAFE ESCROW ADVANTAGES
Our system permit title agents to remain in compliance with ALTA Best Practices, without giving up control of their workflow.
Our proprietary technology and internal processes are designed to manage risk and provide agents with the ability to meet or exceed ALTA’s Best Practices for funding, by ensuring proper segregation of duties, operating at a SSAE 16 SOC 2 certified data center, and utilizing positive pay and other important banking technologies. Safe Escrow provides flexibility to fund from anywhere while reducing a title agents costs.
Key advantages of Safe Escrow include:
- Risk Management
Safe Escrow is designed to meet or exceed ALTA’s Best Practices guidelines for funding. As those guidelines evolve, so will Safe Escrow. Our internal processes ensure a solid control structure with proper segregation of duties and oversight by Certified Public Accountants. We ensure that all funds have cleared prior to the disbursement. This provides title agents with increased protection from the risk of fraudulent checks. - Flexibility
Safe Escrow offers a secure web-based platform that can be accessed from anywhere. Changes to the HUD can be processed from the table, and checks can be printed at the closing all without compromising a title agent’s controls. Built-in security features such as multifactor authentication ensures that high-risk actions or access from remote locations or different computers require proper authentication. - Convenience and cost effectiveness
There are no bank fees, positive pay charges, reconciliation costs or audit fees, as agents no longer need to maintain their own escrow accounts. Daily reconciliations are completed and are visible by logging in to the website at your convenience. Basic wire fees and other transactional charges are included in Safe Escrow’s fees.
Managed Disbursement Solution Defined
The Safe Escrow Solution is a process-driven web based technology, which incorporates stringent accounting controls with customized banking tools, to provide title agents, title underwriters and lenders a safe and secure way to disburse mortgage proceeds. The solution complements title agents’ existing workflow, and allows a transparent view of the funding procedure on each and every file. The program is well insured, compliant to ALTA Best Practices and assures that mortgage lenders and their title insurance suppliers are meeting the ever changing consumer protection regulations. The program is presented to the industry by a reliable and professional team, which has a 10 year history of proven results.