Angela:
I have seen similar frauds before. And it is a fraud -- likely another version of "the check's in the mail". This scheme has also been used successfully to bolster verbal and written statements made during the application process for home, construction, auto and jewelry loans.
Because this action is so far outside the scope of normal banking practices, your allowing this action to occur will likely create a horrendous liability for your institution.
------------------
Dana Turner
Security Education Systems
danaturner@bankersonline.com
830-535-6500