Beware of Mortgage Wire Fraud

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At Simplex Title, your security is our top priority. Real estate transactions move quickly and involve significant sums of money, which unfortunately makes them a prime target for cybercriminals. Mortgage wire fraud is one of the most common and financially devastating scams in the industry today—and anyone can fall victim.

Understanding how mortgage wire fraud works and taking a few precautions can help protect your closing funds from being stolen.

Mortgage wire fraud is a sophisticated scam where criminals pose as trusted parties—like your real estate agent, lender, or title company—to trick you into wiring your funds to a fraudulent account. These scams often happen through fake emails, text messages, or phone calls that look surprisingly real.

Fraudsters use tactics such as:

• Phishing: Sending emails or texts pretending to be someone you know 
• Spoofing: Making their email address or phone number appear legitimate 
• Hacking: Gaining access to your agent's or lender’s inbox to gather detailed transaction information

Once they have enough information, they’ll send you urgent messages claiming there's a last-minute change in wiring instructions. If you follow their directions, the money goes straight into their account—and it's very difficult, if not impossible, to recover.

Be cautious if you notice any of the following:

• You receive an unexpected email or text with revised wiring instructions. 
• Someone urges you to act immediately or risk losing the deal. 
• The message contains spelling errors, odd phrasing, or a sense of urgency. 
• You’re asked to confirm personal or financial details over email or phone. 
• The phone number or email address seems slightly different from previous communications.
   

Here’s how to keep your transaction secure:

Before closing day, speak directly with your title agent and lender to confirm:

• The payment methods accepted
• The exact wire instructions (including bank name and account number)
• A code word or passphrase for verifying identity in communications

Write down contact details for your real estate agent, lender, attorney, and settlement agent. Use only verified phone numbers and emails you received in person—not ones sent to you via a suspicious message.

If you ever receive wire instructions via email or text, stop and call your title agent or lender using a trusted phone number. Never wire money without confirming the details directly.

Never email sensitive financial information. If someone asks you to do so, consider it a red flag. Use secure portals or verified phone conversations to communicate securely.

If someone calls claiming to be part of your closing team but asks for personal information to “verify your identity,” hang up and call your known contact directly.

If you suspect mortgage wire fraud:

1. Immediately contact your bank or wire transfer company
   Request a wire recall and explain that you may have been scammed. 
2. Report the fraud to the FBI’s Internet Crime Complaint Center
   File a complaint at www.ic3.gov as soon as possible. 
3. Notify your title company and real estate agent
   Let your trusted parties know so they can assist and take precautions.
    

Mortgage wire fraud is real, and it’s increasing. At Simplex Title, we urge all buyers, sellers, and agents to stay alert, informed, and connected with verified professionals throughout the transaction.

If you ever have questions about wiring funds or suspect something isn’t right, please contact us immediately at:

📞  (832) 278-5982

Let’s close with confidence—and caution.

Simplex Title is here to protect what matters most.