Blog – Page 4 – Secure Insight

Why Settlement Agents Pose the Greatest Risk to Mortgage Lenders and Borrowers

Written on April 23, 2018.

Settlement agents, the men and women who manage the closing of residential mortgage loans, carry a great burden with them. Each time they close a loan they have access to mortgage proceeds, lender documents including...

The Unique Conduct of Mortgage Closings in California Amid Concerns Over Fraud

Written on April 19, 2018.

According to figures published by the Federal Bureau of Investigation (FBI), the Financial Crimes Enforcement Network (FinCEN), Corelogic, Interthinx and LexisNexis, based upon filed SARS reports and other available data,...

NJDOBI Issues Wire Fraud Warning and Recommended Policies to Prevent Losses

Written on April 10, 2018.

Today the NJ Department of Banking and Insurance issued its advisory Bulletin No 18-04 addressing all banks in the state on the topic of wire fraud. The notice explains the recent increase in fraud schemes involving the...

NJ To Create its Own CFPB, Following Pennsylvania. Consumer-Driven Financial Regulation of Mortgage Lenders and Banks is Not Going Away.

Written on April 6, 2018.

Just when lenders were expecting the CFPB in Washington to fade silently into the mist of the night, there were rumblings that states were considering enacting their own CFPB organizations and regulations to prevent the...

Enterprise Risk Management: What’s in Your MROM?

Written on April 4, 2018.

Increasing regulatory pressures on banks and lenders to adopt greater risk management systems and processes are aimed at establishing a more uniform approach to quality control industry-wide. At the same time these pressures...

The Mortgage Fraud Triangle: What It Means For Your Business

Written on March 28, 2018.

Fraud is pervasive in virtually every industry. The reason is that fraud is the consequence of a human condition that exploits the opportunity to gain assets through rationalization and need. Every one of us is vulnerable...

CFPB, CFPB Where For Art Thou CFPB?

Written on March 20, 2018.

Th election of President Donald Trump signaled for many in the mortgage industry that finally something would be done to reign in federal regulation and allow lenders to make more loans. There was also a secret desire...

Mortgage Industry Vendor Risk Policies: All Businesses Are Not the Same

Written on March 19, 2018.

When the CFPB issued Bulletin 2102-3 (reaffirmed again in 2015), forever changing the way that banks and lenders nationwide look at third party relationships, they offered only a bare outline of detail regarding what that...

How Are You Protecting Borrower Data Collected in the Mortgage Loan Process?

Written on March 16, 2018.

“Data privacy” and “data security” are terms most lenders are hearing over and over again these days. The reasons for this are numerous but include the CFPB’s focus on the issue, increased publicity over data breaches...

NY Opinion Poll Indicates Public Wants More Protection in Mortgage Settlement Process

Written on March 5, 2018.

In October an independent opinion poll was conducted by American Money Services of NY seeking public input on issues surrounding mortgage closings. The results were nothing less than fascinating, and should serve as a...