Another Possible Defalcation with Troubled Title Company

The Daily Times, Farminton, NM

New Mexico Title Co. closed abruptly on Jan. 30 when it stopped accepting title work and interim manager Quentin Smith sent employees home. For days afterward, a phone message said that the business was closed. Customers began to stream in to inquire about their escrow accounts and the status of their real estate transactions.

Several New Mexico Title Co. customers told The Daily Times they had not received expected disbursements from escrow accounts, or that their payments to escrow accounts were not properly credited.

Edward Blinzler, a local businessman, filed a complaint with state regulators after an expected escrow disbursement did not appear. He has an escrow account with New Mexico Title for payments from a couple who bought a house from him. The homebuyers’ check has cleared their bank, he said.