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#2253124 - 04/28/21 04:49 PM Wiring payoffs in lieu of cashier's checks
Compliance504 Offline
Platinum Poster
Joined: Dec 2008
Posts: 694
Tennessee
Is there anything to be concerned with if we wire payoffs associated with a loan closing rather than issue cashier's checks....
mortgage payoffs, credit card payoffs, auto payoffs......

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#2253133 - 04/28/21 07:19 PM Re: Wiring payoffs in lieu of cashier's checks Compliance504
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,958
Galveston, TX
As long as you wire then to the correct person and place - not really. You need some controls on that however. There is a lot of wire fraud going on in that area.
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#2253134 - 04/28/21 07:25 PM Re: Wiring payoffs in lieu of cashier's checks Compliance504
Compliance504 Offline
Platinum Poster
Joined: Dec 2008
Posts: 694
Tennessee
Thanks so much, Randy

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