The title insurance industry is part of the real estate industry sector caught in law enforcement investigation activity which appears to be a part of the epidemic of industry fraud that could have cost consumers millions -- if not billions.
An escrow account holder is a neutral third party which holds onto, then exchanges, disburses and transfers deeds, documents and monies. Disbursements pay off existing loans and the agent records deeds, prorates property tax payments and interest and helps with the transaction's other transfer details.
An attorney who owned and operated two title companies, Premier Title & Abstract, Inc., and Verity Title & Abstract, through which he offered settlement and escrow services. Escrow officers play a critical role in real estate. These are the people who are responsible for making sure transactions are on the up-and-up.
Read the whole story @ http://tinyurl.com/2vefyub
The Honest & Ethical title and escrow agencies where these fraudster agents work or worked have conducted their own internal investigations and turned the information over to the appropriate authorities and prosecutors.
When we believe in the existence of fraud could affect us individually, more will then start taking active steps, every day, to combat against it. It may be an everyday battle, but the longer we fight the stronger we get, and once something becomes a habit the less difficult it is to achieve; and the harder it is to forget.
If you believe that you are the victim of any criminal activity, such as a mortgage fraud or forged documents being presented for your signature, you should contact your local law enforcement agency.
We all need the fraudsters to FEAR retribution from the ethical honest "Real Estate Industry Professionals and Homeowners".
We can prevent mortgage and real estate fraud one transaction at a time!
Michael S. Richardson
Director/Chief Quality Officer
Author of "An American Epidemic, Mortgage Fraud a Serious Business"
Follow me on Twitter @ FocusonFraud