Reply by BrendaTx on 4/1/12 1:53pm
Msg #416773
Not much we can do, unfortunately.
My research into mortgage reports of this nature indicate that insiders are the prime suspects and perpetrators..no mention of notaries for being duped at closing tables. The crime isn't happening at the kitchen table. It is happening long before we get the docs into our little notary hands.
Of course, vigilance is our business and that's what we do, but no matter what we think we are accomplishing with our ID tasks, in the big scope of mortgage fraud our part counts for a scintilla of actual fraud suppression.
The fraud criminals are inflating appraisals, fogging titles, overlooking income insufficiency and debt ratio. notaries who are involved in fraudulent transactions are notaries who are willingly complicit in the crimes or doing the robo signing type work.
The fraud that we read about that includes notaries is fraud that the notaries intend to see come to fruition.
I only wish that those insiders could be "scared straight" by the xyz, too.
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