By Lisa A. Tyler
National Escrow Administrator
The year 2012 seems to have gone by in no time at all. It was a busy year for criminals — and also for our settlement agents, who were thwarting the crimes and keeping up on the newest rules and requirements.
In this edition the Company hits $101,000 in rewards paid to astute employees and agents who have successfully prevented a fraud or forgery in their own transaction and ultimately saved the Company from millions of dollars in claims and losses. Be sure to read the two stories that take the Company over the top in its goal of rewarding fraud fighters. They are entitled "COMMUNICATION is key to crime prevention" starring Lynn Koniecki and "DOUBLE take" starring Marta Drobyn.
While $101,000 in rewards paid is quite a milestone for the Company, we do not plan on stopping there. The fraud detection and reward program is a huge success in sharing the latest schemes and scams. Fraud Insights has an average of 3,726 online readers each month and a hard copy distribution of over 13,000 copies. Stay alert to the latest real estate crimes and report them to our staff, we would be happy to pay you the next reward if your story is published.
As Fraud Insights enters its 8th year of publication in 2013, many changes appear on the horizon. The industry will most likely see the retirement of the HUD–1 Settlement Statement and introduction of a whole new form called the Closing Disclosure. No doubt the fraudsters will not give up either.
We will continue to report the latest and greatest but one thing is for sure — 2013 will be Magnificent!