A title company owner was sentenced to two years in prison for wire fraud in connection with a scheme to use over $1.5 million in mortgage closing funds for her personal use, including running two businesses.

Harriet Taylor co-owned and managed two title insurance companies—Regal Title Co. LLC and Loyalty Title Co. LLC—located in Columbia, Md. Pursuant to an agreement with a national title insurance underwriter, which is required by Maryland state law, escrow accounts were established for both businesses separate from company operating accounts for the purpose of holding and disbursing funds received from lenders for real estate closings.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry