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Fraud Insights Vol. 1 Issue 10 PDF Print E-mail

Real Estate Fraud Alert!

By Lisa A. Tyler
National Escrow Administrator

Fraud is on the rise, but there's no need to get spooked. Arm yourself with the knowledge and industry savvy you need to eliminate the possibility of fraud in your transactions. First step: reading this edition of Fraud Insights.

Tammy Roberts, an escrow officer for Chicago Title Agency of Nevada, recently had a lender waive its duplicate spousal deed requirement. Discover why in "Forged Deed Causes Waiver of Lender Condition." Be sure to read "More on This Topic" to discover the dangers of recording multiple spousal deeds on a single community property estate.

Also in this edition, a haunting story of "Dresser Drawer Deeds" written by Danna Jo Rexroad, an Escrow Administrator from Arizona, with some important new revelations on the lack of estate planning.

This edition also contains a not-so-funny tale about how Jackie Parkinson, from our Chicago Title offices in Vernon Hills, Illinois, discovered that one of her borrowers was able to "Rent a Family" in an attempt to defraud a lender out of more than $60,000.

It's our goal to provide you with tips and tricks to prevent fraud and forgery in your own transactions. The best prevention is your own knowledge and keen awareness. If you have a fraud/forgery topic that you would like to see featured in a future issue of Fraud Insights, we want to hear from you! E-mail your suggestions to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . Thank you!

 

Forged Deed Causes Waiver of Lender Condition

Out-of-office signings pose a threat to unwitting closers. Find out how Tammy Roberts stopped a forgery on a transaction where the documents were supposedly signed and notarized by our insured lender.

More »

Dresser Drawer Deeds

A Dresser Drawer Deed, sometimes called a Night Stand Deed or Hip Pocket Deed, is usually a Quit Claim Deed that has been stashed somewhere and mysteriously shows up and/or is recorded after the grantor has died.

More »

Rent a Family!

Is that your wife? Are those your children? Sometimes asking uncomfortable questions at closing can protect the Company and its lender customers from potentially expensive real estate fraud.

More »
 
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