Elite Escrow Exclusive
January/February 2017

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Wire Fraud and E-mail Compromise Schemes

E-mail Compromise Fraud :  Schemes in which criminals compromise the e-mail accounts of victims to send fraudulent wire transfer instructions to financial institutions in order to misappropriate funds. 

E-mail fraud campaigns have become a significant threat to the financial system!

The Financial Crimes Enforcement Network (FinCEN) recently issued an Advisory to Financial Institutions on E-mail Compromise Fraud Schemes.  The FinCEN advisory is designed to raise awareness and encourage financial institutions to take appropriate measures to identify, prevent, and report this type of fraud.

Did you know that the California Association of Realtors has a NEW Wire Fraud Advisory form, the CAR WFA?   Click Here to review a draft of this form.  
Trended Credit

Beginning September 2016, Fannie Mae requires lenders to use trended credit data when underwriting single-family borrowers through Desktop Underwriter.  This data will be provided by Equifax and TransUnion, and allows a smarter, more thorough analysis of the borrower's credit history.  Currently, credit reports used in mortgage lending only indicate the outstanding balance and if a borrower has been on time or delinquent on existing credit accounts.  With trended credit data, lenders will have access to the monthly payment amounts that a consumer has made on these accounts over time.  Among other benefits, this will allow lenders to determine if the borrower tends to pay off revolving credit lines such as credit cards each month, or if the borrower tends to carry a balance from month-to-month while making minimum or other payments. 

What does this mean for Borrowers?  Trended credit data could open up more
opportunities  for those pay off revolving credit lines monthly or make more than the minimum payment.  These creditworthy consumers may not have a huge amount of available credit, but they show responsible credit management over time.
10 Winter Fire Safety Tips 

Most home fires are preventable, but sometimes common sense isn't so common. According to the National Fire Protection Association, it's not too early to protect your loved ones and your home from fire damage, by simply following sensible suggestions.

1. Have your furnace checked. It's worth the money to hire a professional to inspect and service your furnace once a year. If it's going to conk out, it's better to know trouble is coming.

2. Have your chimneys and vents checked. Fireplaces produce creosote which can ignite. If you light fires frequently, you need a chimney sweep service once a year. When you burn wood,  make sure it's dry and seasoned so that it produces more flame and less smoke.

3. Test smoke alarms. Make sure batteries are fresh. Place smoke alarms in the kitchen, laundry room and in bedrooms.


27 Secret San Diego Spots 

From hidden caves to dead bodies beneath a public park, here is San Diego Magazine's third annual guide to all things hidden and hush-hush.  

Team Highlight 
Karen Viens

Karen Viens is co-owner and President of Elite Escrow Services of San Diego.  She has been in the escrow business since 1976 and is a Certified Escrow Officer. Despite her extensive experience, she continues her education and maintains her certification with escrow classes, real estate courses and seminars conducted by the Escrow Institute of California and the California Escrow Association. Her main duty at Elite Escrow is to run her escrow unit. She opens, processes and closes escrows, interacting with customers and solving problems along the way. She enjoys meeting with and talking to people and closing challenging transactions.
In addition to her escrow duties, Karen also performs management and marketing duties. Her extensive experience and competence reflects the quality of service for which Elite Escrow is known.

A true San Diego native, Karen attended Patrick Henry High School, where she excelled at athletics, especially at running the 800 in track. After high school, she attended Mesa College.
Karen is married and has two children. In her spare time she enjoys traveling and attending the winter and summer Olympic games. 

Karen's team members are Carly Chance and Christy Torres.  Click here to read about her team on our website. 

What an Elite Client has to say!
"Dear Karen, I can't express how grateful I am to have you for a team worker always, but I have to say particularly on our just closed transaction. Thank you for all your hard work, great cheerful attitude, perseverance and care. I also hugely appreciate your team workers Carly and Christy. Thank you again and again."   - Renata
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Becky Ahring

Shanon Leder Jensen

Carol Miller
Sydney

Becky Ahring
619-892-2008
Shanon Leder Jensen
619-607-1053
Carol MIller
619-787-1288
Sydney Phillips
858-775-3051
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