Uncategorized – Page 4 – Secure Insight

When Do Title and Settlement Services Constitute the Unauthorized Practice of Law? Rhode Island Gives Notice.

Written on June 21, 2018.

Sometimes the line between services provided by non-attorney title and settlement professionals and those by lawyers becomes blurred. This happens in states where it is common practice for a title agent representative...

Protecting Borrower Data in An Age of Hacking and Phishing Schemes

Written on June 14, 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 federal and state regulator focus on the issue, increased publicity over...

If The Table Starts Rockin’, Who’s Gonna Come Knockin’?

Written on May 30, 2018.

One of the biggest concerns that mortgage lenders have had for years is that they send their mortgage funds and collateral security documents to complete strangers who gather together and manage a process where there is...

CFPB: No More Regulation by Enforcement? An Analysis

Written on May 18, 2018.

According to Mortgage Professional America, the acting director of the Consumer Financial Protection Bureau, Mick Mulvaney, recently told industry leaders that the CFPB will no longer practice “regulation by enforcement.” “The...

The Fraud Triangle

Written on May 8, 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...

Data Breaches from Email Phishing Scams Still Rocking Mortgage Industry: WEI Mortgage latest victim.

Written on April 24, 2018.

Just today the industry learned that WEI Mortgage has discovered a data breach from an email phishing scam last Fall that appears to have exposed loan file information and borrower personal identifying data such as Social...

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...