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Checking in with my AR friends

The photos on the sideboard were taken at Loews Ventana Canyon Resort, located north of Tucson, where I spent several wonderful days this past week.

I was invited by my new friends at TitleServ National to give a presentation on leveraging the power of relationships. It was a great opportunity and a great time.

The use of photos in my blogging efforts is a new direction for me. I've noticed that Tom Peters does it and decided to experiment with the concept on Title-opoly. I'm thinking that photos from my travels might personalize the site making it more interesting for readers. We shall see!

I heard from Lola Audu, my friend from Grand Rapids, Michigan, who shared the link to her exciting new Squidoo Lens. Great job Lola! I hope that everyone is taking advantage of the tremendous opportunities offered by Squidoo. I'm assuming that Seth's newest project Mayor of your zip code is common knowledge to all of you. It's a powerful tool designed specifically for real estate agents.

Last week, I posted about title theft, an obviously growing category of crime that often targets the elderly. Long story short, fraudsters take title to vacant properties using forged deeds. The properties are then quickly resold or stripped of equity visa vie mortgages originated using falsified identity documents.

The reported cases are becoming to numerous to list, but a scenario presented in NapaValleyRegister.com serves as a representative example.

John and Anita Greerty used stolen identification documents to, in turn, steal the title to an 11 acre tract in California's lush and pricey wine country.

After entering into three separate sales agreements with legitimate buyers, the criminally motivated duo was able to successfully close on two of the deals before the scheme was revealed. Their take was roughly $745,000.

Scott Perry has been doing a tremendous job explaining the nexus between automated land records and the startling rise in crime statistics relating to real estate fraud that requires identity theft. Pay close attention to his message. Scott knows what he's talking about.

I've received and accepted a kind invitation from Gene Wunderlich to join a new group with an emphasis on mortgage fraud and real estate crimes that prey upon the elderly. I hope you'll consider joining Mortgage, Foreclosure & Elder Abuse Housing Fraud as well.

I have access to a lot of information that will be made available to the group as time permits.

Finally, this week will find me poking around Active Rain quite a bit. I'll be hosting the Mortgage Week in Review which is of course the brain-child of our very own FHA expert, Jeff Belonger.

Until next time ...

Posted by Ed Rybczynski on 03/02/2008 09:25 AM

Comments (16)

mortgage fraud, property flipping, real estate fraud, keynote speaker, public speaker, fraudulent deed transfers

16 Comments on Checking in with my AR friends

MAR

2008

there are so many blogs that we often miss them so thanks

I joined Gene's new group too. I'm not much for groups, but anything I can read from morgage professionals is always helpful. I look forward to your contributions there.

The photos are beautiful.

Lenn

I rarely if ever participate in groups, but Gene seemed so sincere by including the elderly. I'm in.

The photos are beautiful because the area is stunningly beautiful. Visit Tucson if you haven't already. I love it there.

Charlie

You're very welcome. Please check out Mayor of your zip code on Squidoo. It's powerful stuff.

That's wild that some crooks find devious ways to do business in our world. I guess all my time is not geared to think up all that stuff. The title thief is totally brazen and then involve others and go to a closing...or three? Amazing! Thanks for bring this to our attention.

Lizette

You're very welcome. I'm hoping all is well in Kentucky.

Ed,

Welcome back from T U C S O N...Why can't 'Title people' run for mayor? I thought this was a free country!!! Thanks, Fran

Thanks, Fran. I had really butchered the spelling of the word T U C S O N and made corrections here and on Title-opoly thanks to your good eye.

I agree about the mayor comment. We need something similar for title people.

Ed thanks for getting the word out. You know what a significant problem mortgage fraud can be and the impact it can have on a market. Now that the market has cooled we're starting to see foreclosure fraud becoming more prevalent.

The elder abuse angle is just so wrong and growing. Our task force has been contacted by several elderly folks who are in imminent danger of losing their homes after being scammed into what they thought were reverse mortgages only to find that their equity had been stripped and their security gone. One lady contacted me after reading a prior blog of mine here on ActiveRain - it's enough to make you sit down and cry. There's got to be a special level of hell for people that prey on our elderly.

Time permitting, please post some of your prior blogs on these issues to the group.

Ed,

Much of this fraud stuff boils down to an identity crisis! When I first started in title insurance back in the early 70s...no one ever questioned signers at a closing...in fact in tens of thousands of closings I only recall one situation where a borrower masqueraded as a spouse of the real borrower...it eventually came to light and much litigation ensued!

And that was when no one asked for 'photo ID' or anything like that...now you better not only insist on two forms of 'photo ID' but you better even scrutinize those to be sure they're not phony!!! Thanks, Fran

Gene

It's my pleasure entirely. I'll try to promote the group as often as possible. There's tons of info in my office to add to the group to make it interesting. I'll take the time to organize and post when possible.

Fran

There are no easy answers. The FBI now suggests that notaries require two forms of official ID, but you and I know that a fraudster can fabricate anything that they need.

Years ago, I was taught a little ruse to try to catch possible bad guys. First, the settlement officer asks a buyer or a seller to say their SS# out loud. The settlement officer then repeats the SS# but transposes the last two numbers. The idea is to see if the mistake is caught.

I believe that more emphasis has to be placed on training people instead of the strict reliance on technology that we now see.

Thanks again for the spell check earlier.

Ed,

Good to see you my friend.

Sounds like you had a good time...good luck with the Review. I'll make you do my review one week too...don't be shy!

what about the patriot act...I seem to be coming across that at every closing now. We all have to give them a copy of our ID's does this hep or is it just going through the motions?

Hi Ed - thanks for the FYI (FMI) on the mayor contest - I am going to run for it. Your photos look like Mesquite Nv! Are you speaking anywhere near here, soon? Like Vegas, I am 80 miles away.