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June Title Tidbit by Richard Estrella – FNF

June Title Tidbit by Richard Estrella – FNF

Mr. Estrella spoke about fraudulent pay-off and wire instruction scams.  He emphasized steps that can guard against becoming victim to a scam:

  1. Verify information by phone
  2. Independently source the contact information; do not rely on the phone number in a letter or email.
  3. We need to receive a mortgage payoff letter the day before closing so that we can take the time we need to independently verify the payoff letter 
  4. Make sure your computer software is updated so that you can hover over the sender’s email address to see if it is legitimate. 
  5. If you are being scammed, notify the FBI
  6. Examine your coverage; E&O does not include fraud
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