Paul W.’s Post

#NAMFS With Trump 2.0 coming in, we explore some of the criminal activity ongoing at HUD. We also discuss the HUD M&M as well as post a preview of our book coming out early next year!

Absentee owners of real property continue to be the target of criminals engaging in Seller Impersonation Fraud. These criminals pose as owners, sell the property and abscond with the sale proceeds. The real property owner… READ MORE HERE: https://loom.ly/DOEld3s . . #FNTBuilderServices #Homebuilder#Title #Escrow #FraudInsights

Seller impersonation is not something that happens somewhere else. It is happening right here in Idaho, and those perpetrating the scheme are sophisticated. Just last week a savvy real estate agent called me who had discovered such a scheme. Not only did he stop a crime from being committed, but he also demonstrated to this landowner that he was an experienced agent worthy of working with in the future. The telltale signs of seller impersonation fraud are often: - The real property is unimproved land - The real property is owned free and clear (no liens) - The seller does not reside on the real property The fraudsters target these properties because there is equity available if the property is free and clear, and a lien won't need to be paid off through closing (lowering the risk of discovery). Through fake IDs, too good to be true low purchase prices, all cash requirements, quick closes, out of state sellers wanting to sign with their own notaries, and high pressure, these bad actors will try to sweep up real estate agents, buyers and title companies in the fraudulent wave. At Fidelity National Title, we have implemented two important measures to uncover this scheme: - Overnighted letters to absentee owners alerting them to a real estate transaction involving their property - Identity verification software for sellers and buyers that reviews IDs and personal knowledge about matters on the person's credit We're glad to be a trusted partner to real estate owners and professionals to reduce seller impersonation fraud (another example of which is linked in the below article). Please contact me if you have questions further about how you can avoid falling prey to these potentially devastating schemes. #idahorealestate #titleandescrow #sellerimpersonation #realestate #cre

Closing on a home purchase is one of the biggest transactions you’ll make. Learn how to identify the red flags associated with real estate wire fraud and how to prevent yourself from falling victim.

Closing on a home purchase is one of the biggest transactions you’ll make. Learn how to identify the red flags associated with real estate wire fraud and how to prevent yourself from falling victim.

Closing on a home purchase is one of the biggest transactions you’ll make. Learn how to identify the red flags associated with real estate wire fraud and how to prevent yourself from falling victim.

Closing on a home purchase is one of the biggest transactions you’ll make. Learn how to identify the red flags associated with real estate wire fraud and how to prevent yourself from falling victim.

Closing on a home purchase is one of the biggest transactions you’ll make. Learn how to identify the red flags associated with real estate wire fraud and how to prevent yourself from falling victim.

Closing on a home purchase is one of the biggest transactions you’ll make. Learn how to identify the red flags associated with real estate wire fraud and how to prevent yourself from falling victim.

A VICTIMLESS "CRIME" -- UNLESS, OF COURSE, YOU PAID MORE IN TAXES The hue and cry over the New York fraud case against Trump has been (and continues to be) "it is a victimless crime!" After all, the banks got paid their money. I'm not so rich that I can think "victimless". First, Trump got a lower interest rate than I could get because of the "value" of his assets compared to mine. Second, his credit rating was distorted because it was based on false data. Because his credit rating was so good, Trump was able to borrow money that could otherwise have been available to other borrowers at a higher interest rate. The money supply a bank has is not infinite and the higher the interest rate charged, the higher the potential profit for shareholders. Third, and most important to my thinking, Trump increased the value of his assets when seeking bank loans and insurance coverage but greatly devalued those same assets for tax purposes. If Trump wasn't paying taxes, then other taxpayers had to make up the shortfall by paying more in taxes. The taxpayer was/is Trump's victim. https://lnkd.in/g5FWERMU