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As an industry, we have spent the better part of the past 10 years reeling from record high foreclosures and short sales, two recessions, mandatory use of a 2010 HUD–1 settlement statement, enforcement of new RESPA Rules, the introduction of a new regulator called the Consumer Financial Protection Bureau (CFPB) and now the consumer finance law, Loan Estimate and Closing Disclosure.
We have experienced radical changes in how we conduct settlement services and have positively rebounded every time. Our team of fearless leaders put in place by the Company in 2005 have trained and supported you through all these changes, and now we share some personal insight by answering fun questions:
How long have you been with the Company?
Diana:
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24 years
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Karen:
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10 years
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Lisa:
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26 years
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Scott:
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1 year
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Sue:
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20 years
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What type of fraud attempts do you feel are the most preventable?
Diana:
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I believe most fraud attempts are preventable but it seems the fraudsters always strike when and where we are most vulnerable. That is why it is so important for settlement agents to share their stories and to take the time to read Fraud Insights each month.
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Karen:
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Email fraud. There are typically many warning signs — never talking to the principals on the phone, discrepancies in the customer's emails, getting new disbursement instructions before close and a sense of urgency is created with the wire transfer.
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Lisa:
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Disbursing against uncollected funds. Over the past year the industry has experienced a high volume of counterfeit checks deposited into escrow that were disbursed against before the bank could process the item and return it as fictitious. In all instances the settlement agent said they felt pressured by the principals to disburse quickly — no duh! |
Scott:
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The second time a fraud scheme works. Fraudsters always seem to find vulnerabilities within any industry when dealing with money. Most of the time, a successful fraud is followed up by many, many more attempts of the same, especially since it worked once. This should be the most recognizable source of fraud since we have already seen the red flags before.
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Sue:
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Paying attention to where funds are wired.
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What is your favorite article in Fraud Insights?
Diana:
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All the articles where the fraudster was stopped before they succeeded in perpetrating their crime. I love happy endings.
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Karen:
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"MURDER mansion"
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Lisa:
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My favorite is from February 2008 where Anatoliy Pavlishin detected a fake identification presented at signing and the borrower bolted from the office. The story is entitled "Who is That Behind Those Foster Grants?" |
Scott:
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The ones where we get to see mug shots.
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Sue:
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Every article is awesome, but I really liked the series on FIRPTA withholding, helping to educate not just our employees but our customers as well.
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What about yourself can you share with our readers?
Diana: |
In my spare time I serve as the Secretary of the Tucson Rodeo Committee, Inc. It is one of the top 25 rodeos in the U.S.
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Karen: |
I am the youngest of eight children and have 18 nieces and nephews. Never a dull moment with my family.
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Lisa: |
I have held seven positions with the Company in three different states.
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Scott: |
I majored in engineering at college.
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Sue: |
I love being a grammy to my grandson; no greater joy.
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If you were stranded on a desert island and could only take three items what would you bring?
Diana:
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Anything which would put me in contact with someone who could come save me.
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Karen:
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Husband and two kitties.
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Lisa:
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Good book, some wine and a friend. Do not call me, I will call you!
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Scott:
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Wife, music and something good to eat. Sounds like a vacation.
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Sue:
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Husband, my e–reader with solar battery backup, flint to start a fire.
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Favorite Ice Cream?
Diana:
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Mocha Almond Fudge
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Karen:
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Mint Chocolate Chip
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Lisa:
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A moment on the lips forever on the hips…I do not eat ice cream.
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Scott:
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Pralines and Cream
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Sue:
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Jamocha® Almond Fudge
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What would you do if you won the lottery?
Diana:
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I sure hope I find out some day.
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Karen:
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Donate at least 10% of my winnings and buy an ocean front home.
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Lisa:
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Adios amigos. I sure will miss all of you!
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Scott:
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Pay my student loans, maybe.
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Sue:
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Pay off debts, buy new house, donate to church.
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What was your first job?
Diana:
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Proofreader.
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Karen:
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Worked at an ice cream and candy store.
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Lisa:
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Prep cook.
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Scott:
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Outside service at a golf course.
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Sue:
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Worked in a bakery.
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Who is your favorite athlete?
Diana:
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Billy Etbauer
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Karen:
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Michael Phelps
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Lisa:
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Troy Aikman
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Scott:
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Rory McIlroy
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Sue: |
Andre Ethier
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