Mortgage Fraud

Although this article talks about the fraud with reverse mortgages this can and does happen with normal refinance.

“Last month, the owner of the Orlando, Fla., title company that handled his loan admitted to stealing more than $1 million from several reverse-mortgage holders, including Mr. Ford. Bank of America Home Loans, a unit of Bank of America Corp., says the title agent never sent it the money required to pay off Mr. Ford’s mortgage. As a result, Mr. Ford says, the bank recently threatened to foreclose on his seven-acre ranch in Archer, Fla.”

http://online.wsj.com/article/SB10001424052970204044204574362641338197748.html#mod=todays_us_personal_journal