Don't be a victim of Real Estate Wire Fraud!
Act now to protect your next real estate transaction from wire fraud. Good Friend Mortgage has put in place processes to help protect our clients.
We will NOT send wiring instructions via email as that is the method the wire fraudsters typically use to "spoof" the identity of a real estate attorney , mortgage professional, financial institutions and even sellers or buyers. Our wire instructions will be provided via the secure and encryped Good Friend Mortgage portal that you will use to download or upload your documents securely.
The unfortunate truth is that wire fraud in business and real estate transactions — including both commercial and residential real estate transactions — has grown exponentially over the last few years. Wire Fraud scams typically involve a hacker using a phishing attack to gain access to the email system of an employee at a company or an individual involved in a transaction such as the real estate agent, attorney, mortgage lender, title companies and even the buyers and sellers. The hacker then uses the compromised email account to direct parties involved in transactions to alter wire transfer instructions and wire funds to the hacker’s account.
Be on alert for email or phone scams that will try to steal your money. Criminals can pose as your real estate agent, settlement agent or other trusted professionals and provide false instructions for wiring mortgage closing funds. Watch this video for tips to avoid these scams. Please watch the video below from the American Land Title Association in regards to Real Estate Wire fraud, it provides excellent insight into the issue and how to avoid falling victum