Blog – Page 2 – Secure Insight

Scrutinizing Insurance Coverage Is Critical to Managing Settlement Agent Risk to Prevent Losses.

Written on May 13, 2020.

Even the best laid plans and the most stringent controls cannot prevent every fraud loss. When a loss does occur, where do you turn to mitigate your damages? Insurance and fidelity bonds provide a measure of recovery...

Why this Crisis is So Different from the 2008 Wall Street Collapse and How We Can Lead During an Event that Impacts the Entire World

Written on April 13, 2020.

The current COVID-19 health crisis presents the mortgage industry with a unique dilemma when it comes to risk management and crisis leadership. For those of us who lived through the 2008 financial meltdown, this feels...

Is the Rush to Enact RON Laws and Rules Creating More Confusion in the Mortgage Industry?

Written on March 28, 2020.

Recently we have heard about states rushing, by way of executive order or rule change (NY, NH, CT) and with hastily passed legislation (NJ), to permit remote online notarization in their states. The motives are clear...

Data Privacy and Security Issues for Mortgage Industry Professionals in the Temporary Work at Home Situation

Written on March 24, 2020.

The mortgage lending industry has faced severe financial threats and incurred significant financial harm due to data security and data privacy breaches. These breaches have resulted in wire fraud, data theft and identity...

The New Mortgage Closing Etiquette, and a Word or Two about E-Mortgages and E-Closings

Written on March 19, 2020.

In the midst of the current COVID-19 health crisis, lenders and settlement agents who schedule and conduct mortgage loan closings where a small group of people typically gather to sign documents and finalize a transaction...

Coronavirus Creates Potential Recording Delays that May Impact Mortgage Closings

Written on March 17, 2020.

With the latest news that towns, cities, counties and in some places entire states are shutting down as a precautionary measure to prevent the spread of COVID-19, concern is rising that the inability to record notices...

CPL or Bonds and Insurance: Which is More Important to Verify Before Doing Business with a Closing Agent?

Written on March 13, 2020.

Many lenders mistakenly believe that as long as they receive a closing protection letter (CPL) from a title agent or closing attorney then they have nothing to fear about a loss that may occur at the closing table. These...

New York Law Now Requires Borrower Attorneys at Reverse Mortgage Closings to Protect Consumers from Fraud

Written on February 25, 2020.

Identity theft and misrepresentation in mortgage transactions has traditionally concentrated in the reverse mortgage business. In these cases one can clearly see how elderly homeowners can be manipulated into taking out...

The Importance of Escrow Payment Recipient Name Matching to Avoid Wire Fraud Harm

Written on February 12, 2020.

Yesterday the Federal Reserve Chairman Jerome Powell testified in front of the US House Financial Services Committee about monetary policy generally, however he was asked an interesting question during his appearance...

The All Too Real Threat of Consumer Identity Theft and What Mortgage Banks Must Do to Help Prevent It

Written on January 29, 2020.

A recent article in Bloomberg Business Week chronicled the SIX YEAR plight of a reporter who was a victim of identity theft. The cost mentally, physically, financially and to his reputation was severe and life changing. ...