Arizona Regulators Crack Down On Escrow "Skimmers"

The Arizona Republic reports:

• "Arizona regulators are cracking down on escrow officers for skimming hundreds of thousands of dollars off home sales. So far this year, a handful of those officers have been banned from the escrow business and the mortgage industry for writing unauthorized checks out of home-sale funds to relatives, real estate agents, loan officers, contractors and cleaning companies. Some also have been convicted of theft."

• "Barred from the business for writing unauthorized checks out of home-sale proceeds are: Anna Solis, Denise Claudia Ramsey, Margie Means, Annette Damico and Sandra Flores. The state regulator also has moved to ban Nancy Wilson from the business amid allegations that she embezzled $129,418 from her former employer, LandAmerica of Phoenix..."

For all the details, see Escrow officers under scrutiny.

Go here for stories on other alleged escrow agent mishandling of funds. sneaky slick escrow agents alpha