In response to the alarming surge in real estate fraud, Iris®, powered by Generali, a leading identity and cyber protection platform provider, has launched Total Title Protection. This comprehensive protection package is designed to shield homebuyers from a range of threats, including home title theft, scams, cyberattacks, and identity fraud.
The FBI reported that real estate fraud cost consumers over $145 million in 2023 alone, highlighting the urgent need for robust protection measures. Total Title Protection addresses this concern by offering a unique combination of products and services that go beyond standard title monitoring.
Paige Schaffer, CEO of Iris, emphasized the critical nature of this launch, stating, “As providers of industry-leading identity protection, we constantly monitor evolving fraud trends. While real estate scams and identity theft are not new, the recent surge in these activities necessitates a comprehensive solution like Total Title Protection. This package not only proactively safeguards against scams but also continuously monitors for any changes or filings related to a customer’s title, providing expert resolution support in case of fraud or cyberattacks.”
Data from HousingWire revealed that nearly 52% of loans exhibited at least one wire or title fraud risk issue in the fourth quarter of 2023, highlighting the pervasiveness of this problem. Real estate fraudsters employ various tactics, including forging deeds, fraudulently refinancing homes, and illegally applying for reverse mortgages or home equity lines of credit.
Total Title Protection offers a range of unique features, including:
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Home Title Monitoring & Alerts:
Continuous monitoring of property titles to detect suspicious changes or filings indicative of fraud, with immediate alerts to customers.*
$2M Reimbursement for Home Title ID Theft Expenses:
Protection against substantial financial costs associated with resolving and restoring a stolen identity and home title theft.*
Caller ID Monitoring and Alerts:
Safeguarding against phone impersonation fraud through instant alerts when suspicious, masked, inbound, and outbound call attempts occur, including vishing and spoofing.These offerings are integrated with other valuable Iris tools and services, such as high-risk transaction monitoring, ScamAssist®, personal cyber protection, 24/7 award-winning resolution assistance, and a monthly risk report.
Michele Krisanda, Senior VP of Global Product Development, explained, “Iris goes beyond conventional title monitoring or the misleading concept of a ‘home title lock,’ which many products on the market use to address real estate fraud. Titles are recorded in local courthouses across the country, making a centralized ‘lock’ impossible. Our home title solution monitors title changes from thousands of county recorders offices, sending alerts when we detect suspicious activity. Furthermore, our package includes a comprehensive suite of services to protect homeowners and resolve issues related to identity theft, scams, and cyberattacks, along with up to $2M expense coverage for identity theft or home title theft incidents.”
Iris has consistently enhanced its existing offerings and introduced new solutions like ScamAssist, which is now part of Total Title Protection. By staying ahead of identity theft and scam trends, Iris aims to provide comprehensive solutions that protect consumers both before and after an incident occurs, offering expert support to rectify any issues.
Iris®, powered by Generali, is a B2B2C global identity and cyber protection company owned by Generali, a 190-year-old multinational insurance company. Iris is committed to not only developing effective identity protection solutions but also integrating them into people’s lives in a meaningful and impactful way. Iris partners with leading global brands to provide customized protection for their employees and customers, ensuring they receive the protection they need, wherever they are.
To learn more about Iris’ offerings, please visit https://www.irisidentityprotection.com/.
