Mortgage News

Wire Warning

April 27th, 2018 11:29 PM by Mary Ann Munro

It's Spring and buyers are closing, beware of wire fraud scams.  DO NOT wire funds for a closing to an attorney, mortgage company or title agency without triple checking with a representative over the phone. Also, confirm with each party.  The new scam being reported is for the criminal to intercept an email from the attorney's office or title agency and they request the wire be sent to their "commercial division" or to a similar but alternate wire account t.  If you wire your funds, your money will be LOST.  It is near impossible to retrieve your money once it has been wired,  this could result in delayed or cancelled closings.

Many times the wire address contains all or part of the familiar company name but its not exact.  Always beware when wiring funds!

Posted in:General
Posted by Mary Ann Munro on April 27th, 2018 11:29 PM