Umbrella by Liberty Title is the most secure way to close on your real estate transaction. Customers who choose Umbrella receive enhanced security protections and additional benefits before, during, and after closing.
Umbrella offers protection to our customers, their agents, and their lenders through every phase of the closing process and is provided automatically when Liberty Title closes both sides of your transaction.
Umbrella by Liberty provides the following benefits to the Seller or the Buyer:
Pre-Closing Protection.
Did you know that in 2020, cyber criminals stole over $200 million from 13,638 real estate fraud victims? Before closing, cyber criminals hack emails, impersonate title companies and spoof real estate agents in an effort to trick the participants into sending funds to fraudulent bank accounts that they control.
With Umbrella, all parties have access to ClosingLock, which is the world’s leading online platform for protecting the parties in a real estate transaction from real estate wire fraud. ClosingLock makes it easy for you to securely exchange wire information on a secure, encrypted platform. With real time email/phone/text notifications and integrations with over 11,000 financial institutions you will have peace of mind knowing your money is safe.
Protection During Closing.
All parties (the Buyer, Seller and their real estate agents) receive coverage under our North American Capacity Insurance Co. cybersecurity insurance policy that provides additional protection for your funds during the closing process and allows for reimbursement of any funds that may be lost due to wire fraud or cybercrime. Unfortunately, cybercrime is on the rise in the real estate industry but this policy protects all parties involved in an Umbrella transaction.
All parties have protection against “The Gap,” which is the time between closing and recording the documents where fraudulent deeds, bankruptcies and other matters connected to the real estate are uncovered. By closing the entire transaction with Liberty Title, we assume all responsibility for any matters that may occur in The Gap, such as bankruptcy, fraud or other liens.
Post-Closing Protection.
The Buyer receives an upgrade to their title policy that will provide coverage against future deed fraud, present code or permit violations, and a host of activities that can happen after the transfer of the property. If a post- closing fraudulent deed is placed on the property, attorneys will work with the homeowner to clear up the matter.
The Sellers and Buyers receive protection from our Proplogix Release Tracking program, which ensures all liens are quickly and accurately released from the property. With Release Tracking, Sellers FICO scores and credit reports are less likely to be negatively affected by old mortgages Buyers will have a clean title for refinancing or a future sale.
Umbrella Coverage
