By Lydia Blair
Special Contributor

Texas Department of Insurance (TDI) recently released the 2016 Title Agent Statistical Report. Yes, this is now the summer of 2018, so those stats are a bit dated. What can I say? It’s a government agency.

TDI licenses and oversees all title agents in Texas. Our state’s title insurance business is highly regulated and title companies are audited at least every 2 years. Every agency must account for every dime they take in and every dollar they spend.

Take a glance at this 326-page report and you can see why it could take months to compile this information. The report covers every title agency’s income, expenses, and losses. The majority of title companies on the list are Independent Agents. The others are either Affiliated Agents or Direct Operations.

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Your worst real estate nightmare: You close on your home, but the sales funds actually don’t pay off your mortgage. Enter Nancy Carroll, the prominent Southlake title agent whose title company was raided by the Texas Department of Insurance about a year and a half ago. Regulators said they were looking for $3 million missing from the company’s escrow accounts, and $2 million from separate investor accounts.

Well, Nancy pleaded guilty Monday in Fort Worth to stealing more than $1.6 million, before she attempted to abandon her business and skipped town last year.

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Nancy Carroll Spinks
Update: Bond reduction hearing Tuesday at 2:30 p.m.

Nancy Carroll Spinks, the owner of Millennium Title in Southlake, is back in Texas tonight and in the Tarrant County Jail held on a $1 million bond.

Carroll Spinks was transported to Texas on a bus with other prisoners from a jail in Lake County, Illinois, just north of Chicago, where she was arrested last month.

Carroll Spink’s Millennium Title Company was taken over by the Texas Department of Insurance in January. Carroll Spinks vanished after $3 million went missing from her company’s escrow accounts, and several consumers were left unpaid. Sources tell me millions more may have disappeared from other investor accounts and other schemes allegedly orchestrated by Spinks and her family. A process server attempting to reach her says Carroll-Spink’s ex husband, Shelby Carroll, told him Nancy Carroll Spinks has retained a criminal attorney. NBC’s Scott Gordon has more on this story.

Nancy Carroll mug

As we told you Friday, Texas attorney and title company owner Nancy Jackson Carroll (Spinks) was arrested in Lake Forest, Ill., for theft and KXAS-TV’s Scott Gordon was fabulously on top of the story. Here’s a little more on Mrs. Spinks and her life in Lake Forest, one of Chicago’s most affluent suburbs.

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Lake Forest, Ill.: $2,395,000

Lake Forest is located along the North Shore of Lake Michigan and is an upscale suburb of Chicago, my hometown. It is loaded with affluent homes and well known for polo. Recall in The Great Gatsby when Tom Buchanan’s polo ponies were “bred in Lake Forest”? Some say the character of Tom’s wife, Daisy Buchanan, was based on F. Scott Fitzgerald’s ex-girlfriend, Lake Forest resident Ginevra King, whose family brought polo ponies to Lake Forest. The town was built around Lake Forest College, a private four-year liberal arts college in the center of town. If I had to compare it one-on-one to an upscale Dallas community, it’s Highland Park with the collegiate flavor of University Park.

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House Carroll-Spinks leased

So here was where Nancy Carroll Spinks (married name, new husband) was found and arrested and is sitting in a Lake County jail awaiting extradition. She is so lucky she is not in a Cook County jail.

Last week, mid-week, I received an email from a resident of Lake Forest who had read the blog and recognized Nancy Carroll from the post. We spoke by phone. The source told me that Carroll was living in a large Lake Forest home paying about $8,500 a month in rent, and had started a business there.

“Someone needs to turn her in,” said my source, and agreed to contact police.
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Word comes from a real estate agent that Nancy Jackson Carroll (Spinks) was picked up in Lake Forest, Ill., for theft. She’s in the slammer with bond set at $250,000, which happens to be just a fraction of what she allegedly absconded with from her Millennium Title clients.

One client, Scott Schambacher, was offering $50k for information leading to her arrest, though we have to wonder if she was picked up on charges unrelated to the theft at Millennium Title.

We also heard that Carroll (Spinks) allegedly did title work for the Mexican cartel drug lord that gunned down an attorney in Southlake. JEEZ LOUISE!

So tell us, what do you think will happen now that the Carroll (Spinks) has been apprehended?

 

millennium title southlake

More developments in the strange case of Millennium Title, a Southlake-based title company with offices in Plano, Frisco, Addison, and Dallas.

Scott Gordon over at KXAS has been all over this story. In fact, he has even heard from the title company owner, Nancy Jackson Carroll.

Last week the company was taken over by the Texas Department of Insurance, which heavily regulates title companies in Texas, after they were told the owner had disappeared. Title companies hold deposits in escrow for real estate consumers — earnest money, down payments, proceeds from property sales.

On Tuesday, a judge temporarily froze all the firm’s bank accounts linked to Carroll, the former owner who has reportedly disappeared. Carroll has not appeared at the Southlake office since Jan. 12, and has not answered emails or phone calls since Jan. 19, according to reports.

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