Mortgage payoffs: The top fraud threat facing title agencies today (On Demand)

TLTA member companies have been combatting rapid growth in fraud in recent years. Seller impersonation, vacant lot fraud, buyer cash to close scams, you name it. While payment fraud hasn’t grabbed the news headlines as frequently, losses from mortgage payoff and check fraud require a lot more attention.

Title agents across the state of Texas are seeing more payoff fraud attempts, with wire fraud protection software data indicating it as the top source of fraud loss to the industry. Cyber criminals are going after these large sum transactions more aggressively than ever due to the shrinking volume of housing sales and the alarming lack of consistency in lender processes. Additionally, another form of payment being targeted - check fraud - is surging across the country.

In this upcoming webinar, our panel of expert presenters will delve into the critical topic of payoff fraud, sharing recent experiences in dealing with this issue and presenting a comprehensive protection strategy. Additionally, they will provide valuable insights by analyzing the latest real estate fraud data from reputable sources, including the FBI, FinCEN, and software and services data.

During this webinar, you will gain a deeper understanding of:
- The reasons why your payments are becoming prime targets for fraudsters.
- The intricate details of how these fraudulent schemes are executed and how they are continually evolving.
- A set of proven preventive measures that you can implement.

Presenters: