New York Law Now Requires Borrower Attorneys at Reverse Mortgage Closings to Protect Consumers from Fraud

Identity theft and misrepresentation in mortgage transactions has traditionally concentrated in the reverse mortgage business.  In these cases one can clearly see how elderly homeowners can be manipulated into taking out loans or selling their homes through unscrupulous means.  Oftentimes these transactions are conducted with powers of attorney and not every lender inquires why such […]

Read More New York Law Now Requires Borrower Attorneys at Reverse Mortgage Closings to Protect Consumers from Fraud

The Importance of Escrow Payment Recipient Name Matching to Avoid Wire Fraud Harm

Yesterday the Federal Reserve Chairman Jerome Powell testified in front of the US House  Financial Services Committee about monetary policy generally, however he was asked an interesting question during his appearance by  Representative Brad Sherman (D-CA). Rep. Sherman inquired why the Federal Reserve does not establish a payee name matching requirement to prevent wire transfer […]

Read More The Importance of Escrow Payment Recipient Name Matching to Avoid Wire Fraud Harm