REOSS Corporation

REOSS Corporation

June 14, 2007 09:30 ET

REOSS Corporation-Warning: Title Theft and Mortgage Fraud

TORONTO, ONTARIO--(Marketwire - June 14, 2007) - Title theft and mortgage fraud is nation wide threat and it is rising at an alarming rate. In 2005, 2700 cases of mortgage fraud and title theft were reported in Alberta alone. That means 1.2 real estate ownerships were scammed every business hour.

The first online ID verification system with Real-Time third party notification-ID Secure™- is launched by REOSS (Real Estate Ownership Security Solutions) Corporation.

This system effectively eliminates the possibility of ID and Title theft in real estate transactions.

This system utilizes a state of the art Optical Character Recognition technology, Magnetic and Barcode data reader, sophisticated data auto detection/extraction software and relational database software interfaced in a secure dedicated server enables a user to verify the authenticity of an identity on a Real-Time basis.

The banks and mortgage lenders could view the authenticity of an ID before lending the funds or discharging an existing mortgage.

ID Secure™ provides:

1- Complete verification of government issued photo identity.

2- Online accessibility.

3- Real-time data verification process and third party notification.

4- Data auto detection /extraction that is fraud/tamper proof.

5- Equipment purchase not required.

6- Integrated ID verification services to banks, mortgage lenders and title insurers.

The system is an essential tool for banks, mortgage lenders, title insurers, real estate/ mortgage brokers, owners and buyers in Canada to protect themselves against the losses of title theft or mortgage fraud.

Title Secure™ is also available for users seeking comprehensive title fraud protection. It is a patented(i) title theft and mortgage fraud prevention system based on real-time monitoring and protection of real estate ownership before and after closing.

(i)Patent pending Canada, USA

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