Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
Cease And Desist Orders Pending Against 16 Missiouri Title Agencies
The Missouri Department of Insurance, Financial Institutions & Professional Registration released information regarding its recent investigations into several St. Louis area title agencies. The findings of this investigation prompted the Consumer Affairs Division of the department to request that Cease and Desist orders be issued to several of the agencies visited. Those agencies are:
Assured Title Company, License No. AG00692
Bankers & Lenders Title, LLC, License No AG8016545
Champion Title, LLC, License No AG8019258
Dependable Title, LLC, License No AG8019209
Freedom Title, LLC, License No AG8016324
Investors Title Company, License No AG1228181
Lewis & Clark Title, License No AG8013080
Mayer Title Company, LLC, License No AG8019232
Nations Title Agency, Inc., License No AG12519
Residential Title Services, Inc., License No AG8016430
Security Title Insurance Agency, LLC, License No AG1226492
St. Louis Title, LLC, License No AG8014269
Title One, LLC, License No AG8015998
Title Partners, LLC, License No AG8014856
Tristar Title Company, LLC, License No AG8021553
U.S. Title Guaranty Company, Inc., License No AG1223878
The Statements of Charges and Orders to Show Cause can be viewed at the Department’s website.
“We performed these investigations in an effort to review how the title industry in the St. Louis area is marketing, underwriting and rating insurance coverage,” said Dale Finke, director of the Missouri Department of Insurance, Financial Institutions & Professional Registration. “Unfortunately, our findings are discouraging, and we must take action to ensure Missouri consumers are treated fairly and honestly.”
The Consumer Affairs Division of the department initiated administrative enforcement actions against 16 title insurance agencies by submitting Statements of Charges to Director Finke. The division alleges that all 16 are using and collecting premiums at rates that had not been filed with or approved by the director, and all are misrepresenting, concealing or suppressing information from consumers regarding the actual cost of a title insurance policy and the charges or fees for services related to the examination of title records. Over half of the agencies are charging varying title insurance premiums that are unfairly discriminatory. Other alleged violations include the use of kickbacks, the use of all-inclusive title fees that don’t represent the actual cost of title insurance, and the failure to prominently display premium schedules filed with the director in their offices.
Each agency has 15 days to request a hearing to respond to the Statement of Charges. If the title agency chooses not to request a hearing, the department will order the agency to stop all unlawful business practices and impose civil or monetary penalties related to their unlawful practices.
“These problems demonstrate yet another need for reform in Missouri’s title insurance industry,” Finke said. “Our hope is that in January the General Assembly will also pass a bill to address the lack of oversight over escrow funds.”
The department proposed title reform legislation last year after no fewer than five title agencies in the state went out of business in the prior two years. This legislation would have required insurance companies to impose reasonable controls over the agencies that write policies on their behalf. This bill was brought up for final passage on the last day of the 2006 Legislative Session, but was delayed due to a filibuster in the Senate.
I RECENTLY HAVE HEARD THAT A TITLE COMPANY THAT I HAVE DONE MANY SEARCHES FOR HAS BEEN CLOSED DOWN. TRISTAR TITLE COMPANY IN LOMBARD AND LINCOLNWOOD, IL. ARE THE AFFLIATED WITH THE TRISTAR IN MISSOURI? ARE THEY AS WELL BEING CHARGED WITH THE SAME? EXACTLY WHAT DOES IT MEAN WITH ALL THE TITLE COMPANIES LISTED ABOVE? THERE ARE OTHER COMPANIES THAT I DO WORK FOR LISTED. MY BIGGEST PROBLEM IS THAT TRISTAR IN LOMBARD AND LINCOLNWOOD OWE ME APPROXIAMTELY $5,000.00 FOR SEARCHES AND COPIES! WHAT DO I DO?? WILL THEY PAY ALL THEIR BILLS? WILL THEY CLOSE? I WOULD REALLY APPRECIATE ANY HELP YOU COULD GIVE. NO ONE WILL RETURN MY CALL FROM THEIR OFFICES. WHAT IS GOING ON????? THERE ARE SO MANY TITLE COMPANIES LISTED ABOVE, SHOULD I IMMEDIATELTY STOP ALL WORK WITH ANYONE LISTED ABOVE. I TRYING TO MAKE A LIVING, NOT PASS TIME. UNBELEIVEABLY UPSET,SCARED TO DO ANOTHER SEARCH, IN NEED OF A RESPONSE,IN HOPES OF A GOOD ANSWER. ABSTRACTOR, LESLIE
Posted by on 03/01 at 05:41 PM
Tristar is shut down due to fraud. The owner of the company has fled the country rumor has it. Yes they were in Lincolnwood.
Posted by on 03/23 at 09:34 AM
We have just found out about Tristar title today. they have left us in a situation as well. How do i find out more information on how to begin to correct the problems they have given us.
Posted by on 08/31 at 07:02 AM
hello, my husband has already e-mailed you once but i just had to tell you how worried we are as to what has happened tothe debt we pay off with checks from tristar and we still have 2 checks that were never sent to creditors. what are our rights? we are still in debt.
Posted by on 08/31 at 08:07 AM
I too have just been made aware of the standings of Tristar Title. They owe me about $7,000.00 from 2006 and have put me in danger of losing my home. How do I recover that money?
Posted by on 02/12 at 10:39 AM
I had dealings with Tristar thru N3-National Notary Network, in Portland, OR. A failed signing attempt, and a reduced invoice, was met with disdain to my efforts to collect. Learning now that Tristar is now in trouble, makes me think twice to take on as assignment with an untested business. I’ll check the fraud listings first.
Posted by on 08/26 at 03:32 PM
Tri-star owes me a check in the amount of $4600.00 from a loan closed in 2007 with Countrywide. They are the ines that chose them. Any clue who is holding their escrows & how I can recover my money.
Failed Mortgage Firm Trustee Allowed $50,000 in Fees Union Leader
U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc.
Bend Oregon Event to Help Homeowners Prevent Foreclosures Oregon.Gov
As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27, 2010.
Shelbyville Man Gets 2-Year Sentence For Loan Fraud Chattanoogan.Com
Prosecutor Gary Humble said the lost was approximately $2.3 million in the mortgage fraud involving hundreds of homes in the Shelbyville area.
Lend America, VP Ashley Banned from FHA Housing Wire
Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week.
Countrywide Tries to Pin Blame on Insurer Court House News
Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer's role in the housing bubble and collapse.
Investors Say They Were Swindled in Property Scheme Fox 13 Now
Utah Division of Consumer Protection is joining forces with a few investors who claim they have been cheated by an agency called "Utah Mini Ranches.
Greenfield Man Accused of Housing Scam The Republic
A former real estate agent conned at least eight people by renting them properties actually owned by a federal agency and then running off with their deposits, prosecutors said.
Appraisal Institute Opposes Obama Administration's Plan for Homeowner 'Short Sales' PR News Wire
Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers today voiced their opposition to changes to an Obama administration program that will encourage "short sales" of homes.
Ownership Rights to Get Another Look TBO.Com
State lawmakers may beef up protections of property owners' rights by rewriting a law this spring that is at the center of a case of alleged fraud in Pasco County.
Thursday, February 18, 2010 F. Jeffrey Miller Trial Continued Testimony
As reported by Anne Mitchell, who viewed the trial:
Angela Parenza worked for Jeff Miller as the office manager for 7 or 8 years beginning in 1998. Parenza was indicted along with Miller and pled guilty to conspiracy to commit bank fraud and money laundering. Parenza testified that Miller or his contractors allegedly preferred to build all the...
Wednesday, February 10, 2010 F. Jeffrey Miller Trial Coverage Continued - Witness Testimony
Steve Middleton Testimony - Coverage Provided by Anne Mitchell
The Government continued in its cross examination of Steve Middleton. He was shown several HUD-1 statements involving sales of homes located in Overland Park, KS, and Olathe, KS. The HUD statements each allegedly showed line items of payments to (James) Moser & Associates, LLC's...
Monday, February 01, 2010 F. Jeffrey Miller Trial Coverage - Continued Witness Examination
According to Anne Mitchell, who is present in court for the trial:
Next Witness: Kelly Sanford
Kelly Sanford of the Federal Reserve was a short witness for the Government. Sanford manages electronic payments between banks and member financial institutions. He was shown copies of wire transfers and asked whether they coincided with the counts in...
Wednesday, January 27, 2010 F. Jeffrey Miller Trial - Prosecution Witnesses Continued
According to Anne Mitchell, who is viewing the trial:
January 13, 2010
Witness: Rick Hayes
Rick Hayes testified that on the day that he closed on his Miller Enterprise home, he received a phone call from the Kansas Banking Commission informing him that his loan was fraudulent. After the Hayes responded to a classified ad, they met with John...
Legal Disclaimer.
The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about mortgage banking, mortgage fraud matters or who believe they require legal counsel should seek the advice of an attorney. The creators, editors and sponsors of Mortgage Fraud Blog do not intend to create a confidential relationship or an attorney-client relationship by communication via or arising from this site.
Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
mortgage fraud
