Question:

What to be careful about in a mortgage fraud title insurance?

Answer:

Currently, mortgage fraud title insurance has been on the rise. Several US top lenders and title insurance companies are investigated for mortgage title insurance fraud.

This type of mortgage fraud is usually detected by large additional fees charged out of the blue. If you are working with several legal entities such as a lender, a realtor, a title insurer, and perhaps a mortgage broker, you should watch out for their fees.

If in a recent home purchase or refinance you have been charged undisclosed or out-of-agreement fees, you might have been exposed to title insurance fraud. Title insurers often act as settlement agents and maintain escrow accounts where assets in trust are held. Other than charging extra fees, mortgage fraud title insurance may consist of using escrow funds for private purposes.

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