Mary & Matt Reass: Rynoh – Born Out of Necessity

In this episode of Commitment Matters, Mary speaks with Matt Reass, Executive Vice President of Rynoh. Matt can be reached via email at: [email protected].

During their conversation, Matt or Mary mentioned:

Meet the Rynoh staff, including the pets that keep the team in line! Read more about Frank Abagnale Jr. and how he went from committing fraud to catching those who committed similar crimes. His story is the basis of the movie Catch Me if You Can. You can also read “Catch Me If You Can: The True Story of a Real Fake”, which was written by Frank.Matt’s dad, Dick, started Rynoh with the intention of automating the Positive Pay process. Matt stresses the importance of escrow account reconciliation.Matt says it’s critical to keep a paper trail of all documents and transactions. Document management systems can make all the difference. The Rynoh Morning Report provides a daily summary of your financials and points out any discrepancies or mistakes that need fixed. Rynoh also has services for escheatment reviews, auditor oversight and wire notifications. Need to learn more about escheatment or auditor oversight? Preparing your title or escrow company’s audit can be overwhelming, but one auditor shares some tips on how to get started. The Department of Treasury collects hundreds of thousands of dollars in unclaimed property every year. That includes everything from life insurance policies to gift cards. This website shows you how to find what’s yours. Don’t forget the small things! All the little checks can add up quick. Matt highlights Rynoh’s Trax tool, which allows you to set up time-specific alerts around your transactions, whether it’s a mortgage payment, real estate taxes or insurance remittances. Mary recommends you check with your bank to see how long they honor stop pay requests.Matt highlights ALTA’s Best Practices as well as general fiduciary best practices and the importance they play in your business’ day to day operations. Here's more on creating a clean desk policy, ensuring you utilize secure email and how to know your customer policies. Make sure you know the ins and outs of cyber security and consider a cybersecurity business checklist. Matt uses this example of how one person’s doctored bank statements made a massive impact on the entire firm and cost them millions of dollars. Fraud is becoming more common and the tactics are evolving. Beware of catfishing and other online deception tactics! Ransomware and malware attacks are happening more frequently. Here’s some recommended first steps if your company is hit with one. This blog analyzes homeowner tenure patterns.

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