Wire Fraud Isn't Covered by Title Insurance #shorts
DESCRIPTION HOOK:
Most people assume Fidelity covers wire fraud losses.
Megan set the record straight — and the answer surprises everyone.
Title companies have gone out of business over this exact misunderstanding.
DESCRIPTION BODY:
Wire fraud at closing is an escrow issue — not a title issue. That means your title insurance policy does not cover it. And in most cases neither does E&O coverage.
When a title company wires funds to the wrong account — whether it's the buyer's cash-to-close or the seller's proceeds — that money is gone. FNF's role is education and prevention, not reimbursement on wire losses.
This is exactly why platforms like CertifID and ClosingLock exist. They verify wiring instructions, provide liability coverage if something slips through, and remove email from the process entirely.
If your title company isn't using a third-party wire verification platform right now — ask them why not. That one conversation could save a transaction, a client relationship, and potentially the title company itself.
Watch the full episode 👇
LINKS BLOCK:
🎙️ Full Episode 327: tracyhayespodcast.com/327
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#RealEstateExcellence #RealEstateExcellencePodcast #TracyHayes #Shorts #WireFraud #TitleInsurance #RealEstateFraud #JacksonvilleRealEstate #NEFloridaRealEstate #FloridaRealtor #ClosingProtection