Security Risk: Fraudulent Closing Transfer Instructions Stealing Mortgage Pay-Offs - Mortgage Banker Magazine

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By Ted Claypoole and Dominic Panakal Womble Bond Dickinson The past decade has seen the growth of an especially painful and pernicious type of fraud. Criminals have been inserting themselves into the middle of real estate closings, sending believable money transfer instructions to the buyer’s bank or the escrow agent, and absconding with the money. …