As a consumer, it is incumbent upon you and your family to make sure that the attorney, title company, notary, and escrow officer involved in your loan transaction are properly incorporated, licensed, insured, and using internal controls to protect your sensitive personal and financial information.
Why should a consumer be concerned about the person who is “settling” their loan? The attorney, title agent, escrow officer, or notary who is managing the documents and money at the closing can cause you harm. These professionals, who have varying degrees of education, training, insurance coverage, and competency, are the only people connected to your mortgage transaction who have access to the bank’s money, your money, your personal and financial information, and the important bank documents that verify and finalize your ownership of your new home.