It’s been a challenging cycle for the market, and title businesses, like everyone else, have been forced to tighten their proverbial belts. The typical approach to this is to cut back on costs unrelated to the direct generation of revenue. That could include support personnel, compliance resources and IT services or cybersecurity. Don’t do it. […]
In January, the American Land Title Association (ALTA) announced the publication of the ALTA Best Practices Framework ver. 4.0, with an effective date of May 23, 2023. The updates represent a much-needed fine-tuning of escrow and security processes in response to the increasing threats to consumers personal information, as well as wire fraud and other […]
The FBI released an updated report on business email compromise (BEC) to Congress last fall, and for the first time, specifically carved out their growing concerns about real estate wire fraud (REWF). The FBI’s focus is on the impact REWF is having on vulnerable homebuyers. “REWF is unique within BEC scams insofar as many times, […]
