Jonathan Yasko, 47, of Winter Springs, Florida, was sentenced to 27 months in prison after pleading guilty to committing wire fraud between 2021 and 2023 and diverting lenders' funds in real estate transactions to other accounts. Funds were used for other unrelated closings (usually to make-up for escrow shortages) or to Yasko's personal account to pay for personal and luxury spending on cars, vacations, and home furnishings. Yasko's activity resulted in numerous botched clos

LOS ANGELES – A homeowner in Burbank was reportedly swindled out of his $1.5 million dollar house by a group of fraudsters that include a licensed real estate broker and two other defendants. The fraudsters used stolen identities of the seller, and a reputed buyer, to obtain a near $1 million dollar loan.   The defendants are listed as: Glenis Cardona, 63, of Highland, a licensed real estate broker who operates an escrow business; Ivan Reyes, 50, of Van Nuys; and Arshak Akop

AI and the potential for fraud during the post-closing auditing process   We at Waquis decided to explore using AI for our post-closing audit process. Given the hype around AI, with promises of tremendous cost savings and operational efficiencies, our hopes were high. It would seem that many tasks within post-closing, and other mortgage tasks, would be a perfect fit with AI and allow us to cut down on time to delivery while also improving efficiencies.   Using ChatGPT, we ask

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