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Sorry, We Don't Accept Cashier's Checks For Mortgage Loan Closing

Sorry, We Don't Accept Cashier's Check For Mortgage Loan Closing

This may soon to be what you hear from title companies all over the country. 

Title companies may soon require funds for loan closings to be wired prior to closing.

Why, you ask?  For goodness sakes, certified funds are as good as cash!  Well, not anymore! 

Can I bring a personal check to loan closing?

With the advent of smart phones and mobile banking applications with remote check deposits, unscrupulous buyers can re-deposit the check into their own account at closing just before handing it over to the title officer.    The title company may not get notified of the bad check for days or even weeks.   What a mess!  This is the latest in mortgage loan fraud.

Technology is a wonderful thing, but too often there are new challenges that arise as a result!

Don't be surprised when your title company says  "Sorry, we don't accept cashier's checks for mortgage loan closings".

Warm Regards,

Bridget McGee  Maryland Mortgage Mama  NMLS# 196068  Corridor Mortgage Group.   410-960-2061 EHO   bmcgee@corridormtg.com or marylandmortgagemama@gmail.com

 

If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure! 

If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest.  Please contact me at 410-960-2061.

Comment balloon 31 commentsBridget "Mortgage Mama" McGee • March 04 2013 08:19PM
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