Ticor Title Company in Riverside, California, received a title only order for a sale transaction wherein Ticor would be receiving loan proceeds and performing sub–escrow services. The sub–escrow services included paying off existing liens, property taxes and the title invoice. The balance of the funds was then to be disbursed to an independent escrow agent to close out the transaction.

The independent escrow agent ordered the payoff statement for one existing loan on the property. She received the payoff statement on September 27, 2018, and forwarded the statement to the title officer at Ticor.

The title officer noticed the payoff statement indicated it was from a national default servicing company, the title officer notated in the file the loan being paid was in default. That note would prompt a call to the servicing company for additional legal fees prior to recording and insuring the transaction.

On October 15, 2018, an updated payoff statement from the default servicing company was received from the independent escrow agent. Shortly thereafter, Karin Arredondo, an escrow associate in the Ticor Central Processing Unit (CPU), received the loan proceeds. She notified the title officer and he proceeded to record the deed and deed of trust.

Karin was in charge of disbursing the loan funds to pay off the existing loan and property taxes. When she reviewed the payoff statements she noticed the bank wiring instructions on each of the statements was typed in an entirely different font than the rest of the statement.

Karin called the default servicing company for the additional legal fees that rack up when a loan is in default. While she was on the phone she also asked to verify the bank wiring instructions. The default servicing company representative told Karin they only accept cashier's checks and the payoff statements they issued clearly stated that on page three. Karin noticed the payoff statement in her hand was only two pages.

Karin asked the default servicing company to re–send the actual payoff statement to her directly. She reviewed the email address on the email transmission containing the first payoff statement and the updated statement, the emails originated from CustomerService@ndscorps.com. She compared it to the email address on the email transmission she received containing the valid, unaltered payoff statement, which was CustomerService@ndscorp.com with no "s" at the end. She knew she caught an altered payoff.

Karin's diligence and keen eye prevented $131,585.40, the amount of the payoff funds, from being diverted to a national bank that has become the target for the majority of illegally diverted wire transfers. For her efforts the Company has rewarded her $1,500 and a letter of recognition.