Mortgage Resources on Fraud Protection
Mortgage Resources from Consumer Financial Protection Bureau (CFPB)
Closing on a new home can be a significant life event, especially for first-time homeowners. Scammers, however, are increasingly targeting homebuyers—just days before closing.
The CFPB has developed new resources and tips to help educate consumers on how to avoid becoming the next victim of a mortgage phishing scam.
- Identify two trusted individuals to confirm the closing process and payment instructions.
- Write down their names and contact information.
- Before wiring money, always confirm instructions with your trusted representatives.
- Avoid using phone numbers or links in an email.
- Do NOT email financial information.
- Be mindful of phone conversations.
Helpful CFPB Resources:
If you think you may already be a victim:
Contact your bank or wire-transfer company immediately. Ask for a wire recall. Reporting the error as soon as possible can increase the likelihood that you’ll be able to recover your money.
File a complaint with the FBI. Contact the FBI’s Internet Crime Complaint Center at www.ic3.gov.