INQUIRE BEFORE YOU WIRE

March 22, 2018

Did you know that on average a bank robber gets away with just over $3,800 worth of illegal loot while an online fraudster who commits the crime of a successful wire-fraud will steal over $129,000? It is no surprise then that this horrendous criminal act called Wire-Fraud is on the rise.

Realtors®, real estate brokers, closing attorneys, buyers and sellers are targets for wire fraud and many have lost hundreds of thousands of dollars because they simply relied on the wire instructions received via email. read more

What is Payoff / Sub-Escrow?

August 17, 2017

You may know that an escrow company is responsible for the purchase and sale of a property. What you might not know is sub-escrow may be required.

A sub-escrow is a requirement of the funding lender (new lender). In some cases, the lender may be processing their escrow with a private company. This is so that the lender can be confident that the company receiving the funds has adequate Errors and Omission coverage in the event that there is any insolvency. Typically, the full escrow agent will be notified last minute that the lender requires a sub-escrow. From here, the sub-escrow is set up with the title company that is issuing the title insurance policy. read more