Bulletin: NJ000110

Date:
July 14, 2006
To:
All New Jersey Issuing Offices
RE:
Closing Alert

Dear Associates:

All agents are instructed not to accept any orders nor close any transactions involving the below listed individuals unless approval has been received in writing from Stewart Title.

The underlying matter involves a mortgage payoff scam using fraudulent payoff letters with bogus servicing agents as the named payee on behalf of the mortgagee of record.  Agents are cautioned to insure that payoffs are made to the named mortgagee of record or to its assignee or an authenticated servicing agent.  Should any irregularities be suspected regarding payoff letters or instructions, please contact the State Office.

The expanded list of party names associated with this suspected payoff scam follow.  All agents are instructed not to accept any orders nor close any transactions involving the below named individuals unless approval has been received in writing from the State Office:

Mohammed Zakir Hossain                                           

Monir Hossain

Mohammed Z. Hossain                                            

Nilufar Yesmen

Yasmin A. Hossain                                                      

Sheren Aktar

Mohammed Belal                                                        

Humayun Kabir

Mohammed J. Ansari a/k/a M.J. Ali Ansari                  

Abu Hassein Dali

Mohammed R Sarkar                                                  

Sentar Khandakar

Kazi Zohiral Islam                                                        

Kalawatti Ramdhanny

Humayun Kabir                                                           

Mahbuba Rasul

Shafiullah Badal                                                           

Nasir Chowdhury

Mina Khan                                                                  

Nirmal D'Costa

Rahman Rahima                                                           

Devanand C. Harricharan

Jahangir Rahman                                                          

Nipul Saha

Rahid M.Talukder                                                       

Masud Akhand

If any of these individuals have contacted your office, please contact our office immediately.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
NL000084 Stewart Title Guaranty Company Antifraud Plan
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None