By Lisa A. Tyler
National Escrow Administrator
To start the year off with a bang, you must read "OMG moment." An escrow officer questioned a signer using a power of attorney to sign on behalf of his mother and uncovered murder, deceit and an attempted theft of proceeds from the sale of his mother's property.
There is no "I" in team, but there sure is an "I" in win. The Company is fortunate to have a winning team that takes superior customer service to the extreme. In the story entitled "HEROIC account manager" an employee is contacted due to a title defect discovered four days prior to closing by his customer, an independent escrow agent. Rather than process a loss to pay a prior lienholder and cure the title defect, the account manager worked to uncover the events that prove the lienholder was paid nearly 10 years ago.
Do you have consumers calling your office to verify a check they have received is valid? Find out how they got their hands on a check that appears to be issued on a Company trust account, but in fact is completely fraudulent by reading "THE scam continues."
This edition contains more information on the use of the Closing Disclosure, instead of the HUD–1 settlement statement for residential transactions. Be sure to read "CONTRARY to popular belief" to make sure you are prepared for the dramatic changes effecting our industry in the months ahead.
And be sure to answer the monthly CFPB question to ensure you understand the new rules!