New Company Aims to Help Prevent Mortgage Fraud

September 5, 2017

Millions of dollars in claims are made every year as the result of fraudulent mortgage releases, deeds and powers of attorney acknowledged outside the presence of title company staff and lenders, according to Stephen D. Ruben, CEO of Notary Guard.

The validity of documents notarized before and after settlements by parties unable to attend the closing has been an issue for decades. That’s why Ruben launched Notary Guard. Deeds, power of attorneys and mortgage releases created with the use of this new app can be verified before abstractors and title agencies accept them as legitimate, Ruben said.

According to a press release, the Notary Guard application preserves the date and location of the acknowledgment, and permanently records identifications and images of the signer and notary, and the unsigned and signed documents.

“After trusting notaries I would never have the opportunity to meet, I had to come up with an idea to stop these claims,” Ruben said. “So many security systems are built into this technology. Title insurance underwriters and lenders can now sleep at night.”

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