Posted by Becca_FL on 10/29/07 2:53pm
Msg #218778
Diane Cipa & others interested in "Fraud Alert" update...
msg # 211948 dated 9/19/07.
First, I would like to say that Notary Signing Agents are a very necessary component to a real estate transaction. Notaries Public and Notary Signing Agents in particular, play an integral role in detecting and deterring identity fraud, document fraud and mortgage fraud. The NSA is manning the front lines in the war on mortgage fraud and had an NSA not been used in the transaction described in message # 211948 the title company and broker would still be defrauding mortgage companies. Nuff said on that point.
On September 19, 2007, I contacted the Florida Department of Financial Services Office of Financial Affairs and Insurance Commissioners Office to file a report of fraud against the title company and brokerage firm involved in the closing I facilitated the night before. I also contacted the lender’s fraud division and filed a report on http://www.mortgagefraudwatchlist.org/ . I am happy to report that the State of Florida and the lender took my complaint seriously and I have some good news to report.
I have learned that the lender has terminated their relationship with the broker’s office and the broker is still under investigation by the state.
I have heard through the grapevine that the title company owner is mad as hell at me and can’t understand why I would want to ruin his life and why I have it out for him. As it turns out, the file in question WAS funded according to the HUD. Apparently, the borrowers decided to pay off their automobile so the file checked out ok. However, the state is now conducting a full audit of the title company’s files and the company owner blames me for ruining his life and his business. It’s obvious to me that he has more to hide if the file I reported to the state checked out. Talk about shifting blame.
As for the “closer” that conspired to commit fraud, I don’t know what, if anything will be done with her as she does not work for the title company or the broker. The “closer” is an independent contractor- an NSA and is still out there closing loans, I’m sure. Although she is a notary, she was not committing the fraud in her duties as a notary so a complaint to the SOS would have no legs.
For now, both the title company and the broker are still in business. If they survive this mess maybe they will learn to conduct their businesses accordingly in the future.
I will continue to keep everyone posted as new information becomes available.
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