Posted by Becca_FL on 9/19/07 11:43am
Msg #211948

FRAUD ALERT – Florida NSAs, please read

I was contracted to go to a closing last night where my function would be just to have borrowers sing docs and notarize the docs needing notarization. The special instructions on the order read “Closer (name omitted) will be calling borrower to close over the phone. We need the notary to go out to notarize.”

Okay, fine, I can do that. I understand that some brokers are very particular about how there loans are closed…no problem. As it turned out, it was a BIG problem.

The borrower decided to put the closer on speaker. The closer was reviewing the HUB with the brws and said “you see that your car is being paid off, but we understand that you needed more cash, but did not want your payment to increase. You don’t have to pay the car off if you don’t want to. The lender just wants to see the car being paid off so your debt to income ratio is within the requirements for this loan. After the loan funds, the title company will send you an affidavit to sign and we’ll reissue the check in your name.”

WHAT? Is this “closer” serious? Did this title company flunk RESPA training? Did the EO miss the statement at the bottom of the HUD saying “WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine and imprisonment….”?


I am not mentioning names in this post, but if you have had or receive a similar request, please feel free to give me a call. The brokerage and the title company are affiliates in South Florida. I am prepared to report this to http://www.mortgagefraudwatchlist.org/ and hopefully the closer, the TC and the brokerage will be stopped. I have never witnessed such a flagrant act of fraud in this business. This is truly appalling to me.

Reply by MonicaFL on 9/19/07 11:50am
Msg #211954

Just curious - did you go ahead with the closing and did they sign the warning statement you mentioned. And, did the bwrs take an oath as to everything being true and correct, etc.?

Reply by Todd/OH on 9/19/07 12:19pm
Msg #211961

I did a signing about a month ago for a property in FL. Turns out the broker had two contracts on the same property - forged the seller's sig.

Reply by snowflake/PA on 9/19/07 12:24pm
Msg #211966

Todd, how did you know there were 2 contracts and one was forged?

Reply by Todd/OH on 9/19/07 12:33pm
Msg #211973

My invoice was 30 days out and this signing company has done much better than that. I inquired and was told the loan didn't fund. At the risk of losing future business, I called some of the other contacts listed on the confirmation. I started digging and learned the seller walked. The dirty laundry unfolded.

Reply by Becca_FL on 9/19/07 1:04pm
Msg #212007

Monica, the warning statement I quoted is on the HUD. That statement or one similar can be found on every HUD. As you know, the HUD is not a notarized document. The only jurat performed in the closing was on an owners affidavit pertaining only to liens and encumbrances.