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Davie Man Arrested for Title Insurance Fraud

7/9/2002

TALLAHASSEE - A Davie closing agent has been charged with forging title insurance documents to secure a $90,000 dollar mortgage for one of his clients, allegedly in order to collect the commission.

Jason Allen Donn, 31, of 7000 Nova Dr. in Davie, FL, was charged with one count each of uttering forged instruments - 3rd degree, insurance fraud - 2nd degree, and organized fraud - 1st degree, all felonies. Donn surrendered to investigators with the department's Division of Insurance Fraud yesterday and was booked into the Broward County Jail in Ft. Lauderdale.

Investigators say Donn devised a scheme in which he allegedly created two title insurance commitment documents, one with incorrect information. Donn forwarded the correct documents to Attorneys' Title Insurance Fund and allegedly forwarded the false documents, which contained incomplete information on previous liens for Donn's clients, to a potential mortgage lender. The lender, based on the fraudulent documents, agreed to fund a $90,000 refinancing mortgage loan.

When the fraudulent document was discovered by the lender, a claim was filed with Attorneys' Title Insurance Fund, which settled for $20,000.

Title insurance, normally required by lenders when purchasing a home or property, protects lenders against mistakes made in a title search. A title searcher checks on details such as previous liens on the property and makes sure the seller actually owns the property being sold. Lenders do not require the purchase of title insurance to protect the buyer's interests although this can be purchased at the time of sale in additition to the required title insurance.

The Department of Insurance, Division of Insurance Fraud, investigates various forms of fraud in insurance, including health, life, auto, property and workers' compensation insurance. Se ofrece una recompensa de hasta $25,000 a cambio de información que conduzca a una condena en casos de fraude de seguros.