More Fraud Cases! Be on the lookout!

Fraudulent Release of Mortgages and Deed of Trusts

SETCO is on top of all of these fraudulent schemes including the recently released smart phone check fraud scheme. As well, multiple schemes placing fraudulent releases of Mortgages and Deed of Trusts are occurring in many states.  The perpetrator’s goal is often to make it appear that a Deed of Trust or Mortgage isalready paid off so they can receive all of the proceeds of a sale or refinance.

Uninsured and un-escrowed Mortgages or Deeds of Trusts are potentially suspicious as almost all legitimate lenders require title insurance.

  1. Look at the documents to see if they were recorded by a known title and escrow company.
  2. Read the documents.
  3. Forgers make mistakes that the actual companies would not.

Examples: Bank of America is referred to as Bank of American