- July 14, 2006
- All New Jersey Issuing Offices
- Closing Alert
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
Mohammed Z. Hossain
Yasmin A. Hossain
Mohammed J. Ansari a/k/a M.J. Ali Ansari
Abu Hassein Dali
Mohammed R Sarkar
Kazi Zohiral Islam
Devanand C. Harricharan
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.
- Bulletins Replaced:
- Related Bulletins:
- NL000084 Stewart Title Guaranty Company Antifraud Plan
- Underwriting Manual:
- Exceptions Manual: