FACT: WIRE FRAUD IS A $30 TO $50 BILLION ANNUAL PROBLEM
When you work with Highlands, you can be confident that we are taking steps regularly to protect your personal, financial and transaction related information. We partner only with approved, experienced, and well-vetted service providers.
While mortgage wire fraud is not something we commonly see, it is preventable! Our goal is to educate all of our consumers and partners, so we can defeat would-be scammers!
WHAT DOES WIRE FRAUD LOOK LIKE?
Again, while it is not likely to happen – this is what most mortgage wire fraud scams look like:
A would-be thief emails or phones you asking to have your closing funds sent to a different bank, account #, etc.
STOP RIGHT THERE! If you receive an email or phone call requesting last minute changes to submit your closing funds, please be wary. Do not take any action until you call your Loan Officer and your Title Company to confirm the details.
HERE ARE SOME OTHER HANDY TIPS TO STAY AHEAD OF THIEVES AND SCAMMERS!
- If someone requests a change to your wiring of funds, reach out to your trusted contacts (Loan Officer, Title Company, or Real Estate Agent) and make sure the details are correct!
- Before sending any funds via a wire transfer, contact the Title Company using a number that you know is accurate (i.e. a telephone number that you used previously to schedule your closing or one that you have confirmed via a Web search for their business location).
- It is always a best practice to confirm with the Title Company, or even your own bank, that the intended beneficiary is correct and that there are no red flags with the account or routing information.
- Additionally, your bank may be able to compare the account and routing information to prior consumer complaints of fraudulent transactions.
Our goal is for your home financing journey to be efficient, safe, and stress-free. If you have any questions or concerns, please reach out. We’ll be glad to help.