in this issue

By Lisa A. Tyler
National Escrow Administrator

"NOT–so–mastermind" is one of the craziest stories of an alleged criminal who opened three transactions with three different offices attempting to persuade our escrow officers to deposit checks exceeding $1 million, and to verify funds as a condition of the contract. I think the story solidifies that these transactions are a sign of bad economic times. The fact is our settlement agents deal with the public and do not know who they are personally dealing with – anyone can be a criminal!

"ZERO demand" is a story about an assistant escrow officer who diligently pursued proof of payment in full for two loans that had been reconveyed, only to discover outstanding balances on each. It is a good reminder why title officers are requiring proof of payment in full when there is no new money or conveyance that would have generated the funds to pay off an existing mortgage loan.

Be sure to read the latest "SAFETY CORNER" article entitled "THE INTERNET and email" for tips from the Federal Trade Commission.


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