Wednesday, March 18, 2009

According to some experts who spoke at the MBA’s Fraud Issues Conference, some lenders are not paying enough attention to settlement services agents who warn them that something at the closing table doesn’t seem right. There is a communication problem between some closing agents and some lenders, they said, which is leading to increased risk of fraud. When these business partners inform lenders that there are issues on the HUD-1 or on other documents in the closing package, lenders need to pay more attention they said. More to follow…

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