Mortgage Minute - Wire Fraud

This episode is also sponsored by PearsonRavitz– helping physicians protect their most valuable assets. 

In this Mortgage Minute, Doug Crouse from BMO Bank highlights the importance of diligence and caution during the closing process to prevent falling victim to fraud. He shares an incident where hackers compromised a realtor's email and attempted to divert funds by providing false wire instructions. 

Doug advises homebuyers to verify any requests for money by directly contacting their lender or title company, especially if the instructions seem suspicious. 

He emphasizes the significance of confirming details before wiring large sums to ensure security and prevent potential losses.