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Fraud Insights Vol. 2 Issue 11 PDF Print E-mail
Knowledge is Power!
 
By Lisa A. Tyler
National Escrow Administrator
 
A lot of feasting will take place with the family this holiday season. But as you fill your stomachs, make sure to fill your minds with knowledge by reading this edition of Fraud Insights. And unlike your holiday meals, Fraud Insights is calorie free!
 
This month's edition of Fraud Insights contains useful "next steps" for handling customers once you have uncovered fraud. The article is entitled "Don't Use the ‘F' Word" and should be adhered to on all levels of our business.
 
Read "Stranger Than Fiction" to learn how one of our escrow settlement officers followed through with her gut feeling on two cashier's checks submitted into escrow – one for $500,000 and the other for $1.5 million – only to find out from the issuing bank they were counterfeit.
 
It is an unbelievably great feeling to close a difficult transaction. It makes an escrow settlement officer feel euphoric, if only for a moment. In "Desperate Attempts" you can read about one of our Company's escrow officers and her diligent efforts to close a difficult transaction while combating a mischievous mortgage broker. The escrow officer in this story was very deserving of a $1,000 reward from the company.
 
If you have some knowledge to impart, please feel free to share it through Fraud Insights. This publication is more than a story-sharing and rewards program. It is also intended to provide helpful tips and tools to our settlement employees nationwide to enable them to protect the Company and the public we serve, while still helping consumers reach their dream of home ownership. Submit your helpful hints to us at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or contact your National Escrow Administrators by phone at 888.934.3354!
 
articles
Don't Use the "F" Word
No, not that one, I mean FRAUD! Our business is getting tougher. Deals have become more and more complex. Sometimes it can be hard to tell which transactions are good and which are bad. Regardless, it is never appropriate to accuse someone of fraud.
Stranger Than Fiction
A Northern California escrow branch manager saves the Company from a multi-million dollar loss on a FSBO transaction involving counterfeit checks.
Desperate Attempts
Wendy Perry from Fidelity's Stockton, Calif., operation recently forwarded a file to escrow administration for review and follow-up on a potential claim. A mortgage broker's attorney was making a claim for reimbursement of $18,000 in lost revenue on a deal that failed to close on time.
 
 
 
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