Security is very important to us, and we want to share some tips about how you can protect yourself from one of the worst hazards surrounding the home loan process: Wire Fraud.
Criminals work outside of the protected channels within banks, law offices, title companies and other institutions – contacting you directly while pretending to be one of the companies involved in your home loan.
Criminals can be crafty. Their messages often sound as professional as a bank or law office and include simple wire transfer instructions that might even seem reasonable at a first glance. Unfortunately this quick mistake can lead to an almost immediate loss of funds.
If ever prompted with wire transfer instructions or any other suspicious inquiry, first call the number on the company’s official website or business card and verify both your name and account number before you send any money. Never respond via the information provided on the email. A good rule of thumb is to never offer up any information that the institution should already have. If, in the rare circumstance it is required, you should be making the call.
Here at Northpointe, we make home lending simple. The last thing we want is for you to fall victim to the nasty tricks of wire fraud perpetrators during such an important and exciting moment in your life. If you have any questions or concerns whatsoever regarding wire fraud, feel free to give us a call.