Thursday, April 14, 2011

Baltimore Co. Title Company Owner Pleads Guilty to Wire Fraud.

The owner of a Baltimore County Maryland title company pleaded guilty Friday to wire fraud.  The charges were tied to a scheme to defraud homeowners, lenders and a title insurance company of more than $2 million.

A federal grand jury charged Daniel E. Fink Jr. of Baltimore, owner of Homemaxx Title & Escrow LLC, in March 2009 with wire fraud and money laundering. bases on the plea agreement, Fink arranged for his company to do title work for residential closings and refinancings, then concealed crucial facts about title insurance issued to home buyers or borrowers who refinanced. The fraud occurred between February 2003 and July 2004, the plea agreement said.

Its important to know your title company and who you are doing business with.... Ask the hard questions before your next settlement.  Are you bonded?  Are you audited?  Can you demonstrate timely recordings etc.  Maryland is a great state to own property and live but not all title companies in any state are created equal so get to know your title provider before your next settlement.

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