Mortgage Fraud: Why An Independent Title Company is Vital


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10/9/2012
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On October 9, 2012, a yearlong Department of Justice and FBI probe meant to protect distressed borrowers from foreclosure rescue scams resulted in charges against 530 accused con artists and the uncovering of $1 billion in losses. The DOJ and FBI led the offensive known as the Distressed Homeowner Initiative, a part of the Financial Fraud Task Force. The program combined the investigative, regulatory and law enforcement talents of the DOJ, HUD, the FBI as well as the FTC and other federal officials who wanted to stomp out fraud against distressed homeowners.

The bottom line is that fraudlent loan companies, working with companies that fraudulently accepted or cleared titles, shattered the dreams of thousands. Most mortgage brokers and loan officers are good, hard working people, just as you and I are.

However, there are a small number who are not. When you get car insurance, you shop around. When you get title insurance, you can't shop by price, however you can shop by service. We provide outstanding service, and act independently of any loan originator. So when your realtor or loan agent suggests a title company, remember, you have the right to choose your own title company.

By choosing a third party you've simple double checking that the loan, and real estate transaction, are what they appear to be. Best of all, we frequently work with a law firm, so that we're up to date in all of the issues facing the legal side of the real estate market.

The chances are, by far, that the title company you've been referred to is honest, and hard working, just as we are. However why not play it safe? Best of all, when you play it safe with Mega Title, you're also gaining superb customer service. Your title agent will know you by name, not a file number, and will be dedicated to the successful conclusion of your real estate deal.

In sum, playing it safe never hurts. Playing it safe and getting outstanding service - that's simply common sense.



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