Closinglock Acquires Payoff Retrieval Tool from Viking Sasquatch
September 16, 2025
Closinglock made a significant intellectual property acquisition with the purchase of payoff retrieval software from Viking Sasquatch.
This is a key development in Closinglock’s commitment to protecting the flow of funds and modernizing how money moves in real estate in one secure system, said Closinglock CEO Andy White.
“Title professionals don’t get into this business to chase payoff statements or re-key the same data over and over,” White said. “By applying AI to automate those repetitive steps, we’re removing one of the most frustrating parts of the job and turning it into a fast, accurate, and secure process. That gives title teams back their time to focus on clients, not paperwork. Automating payoff retrieval and verification requests is just the beginning for how Closinglock will protect, automate, and modernize the entire flow of funds.”
With this acquisition, Closinglock said it has introduced automated, insured payoff retrieval—transforming a process that once consumed up to 75 minutes per file into one that takes only seconds.
For a closing team managing 100 payoff requests per month, that’s a loss of 125 hours each month just ordering payoffs, according to Closinglock.
"Reviewing payoff statements and sending mortgage payoff wires are among the riskiest steps in a closing,” said Michele Green, senior vice president at Fidelity National Financial. “You’re moving large amounts of money under tight deadlines, often relying on manual processes and email communication. It doesn’t take much for a simple error or a fraudulent request to cause serious issues for the transaction. That’s why it’s so important for title companies to have the strongest of safeguards in place to protect this part of the process."
A Closinglock survey found that title and settlement professionals spend more than nine hours per transaction collecting and verifying information, re-keying data and reconciling records across disconnected systems. Any mistake in timing, amount, or wiring instructions can cause funding delays, disrupt closings or expose companies to six- or seven-figure losses due to fraud risk, Closinglock said.
“For decades, title professionals have been forced to manage money movement with phone calls, emails, wires, even fax machines — a 40-year-old system that wastes hours and exposes billions of dollars to risk,” White said. “Closinglock is changing that. With more than $2 billion of good-funds compliant earnest money and cash-to-close funds already moved securely through SecurePay, we’re now applying that same trusted approach to disbursements, automating manual workflows, reducing errors, and protecting every dollar from deposit to disbursement.”
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