Title/Escrow Agent Swiped $500K+ In Closing Proceeds, Failing To Record Deeds Or Pay Off Existing Liens In The Process, Say Maryland Feds

The Maryland Mortgage Fraud Task Force members recently announced this recently filed federal indictment:

• A federal grand jury [...] indicted Daniel E. Fink Jr., age 43, of Baltimore, for wire fraud and money laundering. Fink owned and operated Homemaxx Title & Escrow LLC, a title company that conducted residential real estate closings with offices in Middle River and Parkville, Maryland.

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• Fink is alleged to have caused Homemaxx to fail to pay outstanding first mortgages on real estate transactions or to record deeds in the real estate records of local and state governments. Fink allegedly transferred substantial amounts of money from a Homemaxx escrow account into other Homemaxx accounts, as well as to accounts not associated with Homemaxx, and used the money intended to be disbursed pursuant to a HUD-1 for personal expenditures unrelated to real estate transactions. [...] As a result of this scheme, Fink is alleged to have defrauded lenders and homeowners of more than $500,000. The indictment seeks the forfeiture of this amount.

Source: Maryland Mortgage Fraud Task Force Announces Progress And Plans (United States v. Daniel Fink, Jr.).