By Lisa A. Tyler
National Escrow Administrator

Payoff proceeds continue to be a growing target for wire fraud. Payoff statements are ordered in a variety of ways — through email, online, fax and verbally. When the statements are generated and sent in response to the request, sometimes they are intercepted and altered. Find out how two escrow associates saved the Company from falling victim to the crime in the stories entitled "COMMERCIAL loan payoffs" and "WIRE fraud averted."

The National Business Unit, referred to as the NBU, coordinates the closing and insuring of transactions involving commercial real estate nationwide. They do business with large companies with a multi–state footprint. Read "NATIONAL business unit (NBU)" to discover how a commercial escrow officer uncovered not one, but two fraudulent lien releases and protected the customer, as well as the Company from a potential claim.

The power of attorney is the most forged document in a real estate transaction. Most of the time the illegal acts performed with a forged power of attorney are actually conducted by the principal's own family member. When a power of attorney is being used in any transaction, the power of attorney must be signed in accordance with the Company's document execution guidelines. Learn the correct steps to take when closing a transaction involving a power of attorney by reading "DOCUMENTS executed by an attorney–in–fact."

Be sure to answer the monthly document execution question to make certain you understand the tips shared and to increase your "PROPER document execution for recording and insuring" knowledge.