Tips to Protect Payoffs from Wire Fraud

February 26, 2019

Traditional mortgage wire fraud scams usually began with a fraudster deceiving a buyer or key party to the transaction into believing the imposter was a legit participant in the deal. Once inserted into the email chain, the criminal changes already established wiring instructions. In a recent twist, fraudsters are deceiving title companies by issuing counterfeit mortgage payoffs and wire instructions from the start. Read on for tips to protect your operation from criminals targeting targeting loan payoffs.

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