closingfraud – Secure Insight

Successful Risk Management Requires Proper Top-Down Governance

Written on May 31, 2019.

Any organization seeking to adopt appropriate operational risk management policies and procedures must ensure that they have met the five step process to ensure success. This process focuses on proper governance. It...

When a Closing Attorney’s E&O Policy is not Actually Insurance and Why a Lender Should Care

Written on May 8, 2019.

If you are merely collecting a “Certificate of Coverage” on behalf of a closing attorney and passing them through your loan process as meeting your internal risk management protocols you may be in for an unpleasant...

New Attorney E & O Exclusion Exposes Lender Closing Table Risk in Massachusetts

Written on May 3, 2019.

We have noticed that in Massachusetts, insurance carriers providing attorney errors and omissions coverage have been quietly adding a new exclusion to their new and renewal policies. This exclusion is known as the “Disbursement...

NYSAR Reports Up Market for Sales in NY, with No CPL Lenders Face More Purchase Mortgage Closing Table Fraud Risk

Written on April 22, 2019.

Lending in New York? Purchase money business always carries closing fraud risk, however New York business tends to be riskier for many lenders. The state has high average loan amounts, features instrument recording procedures...

House Flipping Is Back to Pre-Crisis Levels according to NY Times

Written on April 9, 2019.

An article just published by the New York Times trumpets the news that house flipping is popular again. Those of us who have been in the mortgage industry for the past 10-15 years know that low interest rates and loose...

Conviction of Attorney and Title Agency CEO for $26 Million Fraud Crime Reinforces Need for Closing Agent Risk Management

Written on February 14, 2019.

According to an article published today in Mortgage Professional America, the former CEO of LandCastle Title, who also served as the managing partner of a real estate law firm, will spend 15 years in federal prison for...

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