Buyer Beware: Wire Fraud

Mortgage and Lending with HomeBridge Financial Services (NJ) NMLS 248937

F words are bad in Real Estate...

Last Friday I had the pleasure of attending a closing with one of my old clients... His third home he financed with me with numerous refinances in between.  

Even with an experienced client I always have certain conversations... After reviewing and approving his Closing Disclosure (CD) I reached out via phone to let him know he had to log in and get the three day TRID Clock ticking.  That is my opportunity to discuss today's F Word.. Wire Fraud.  

My conversation typically starts with.. this is the dollar amount, but always confirm the settlement agent a day or two prior to closing (since there can be minor changes to the numbers especially since this one went out at week ahead of closing).. and they always ask me how to bring the money.  That is not up to me, it is up to your settlement agent.. we send the money from the mortgage to them, we do not collect any money at closing.  

In my area settlement agents are about 50% bank checks and 50% wires since there have been some bad experiences on both sides with Fraud.  

I go on to explain that if they ever get an email discussing how to wire funds that they should immediately pick up the phone and call someone you have already spoken to with the number you know, NOT the number on the email.  There are BOTs out there that seem to hunt for that word wire and send out emails trying to steal funds.

A few days later my client forwards me a string of emails from a fraudster.  Within a day of us having that conversation he had an email from someone pretending to be his attorney telling him where to go for closing and where to wire the funds.  and even how much to send (which was close, but not exact to the real figure). He took it as an opportunity to play with them and went back and forth with them leading them to believe he did wire the funds. Thankfully he listened, called his attorney and delivered a bank check at closing and avoided losing 6 figures.


  • SLOW DOWN AND READWe are al busy, and email can cause us to get lazy. Don't assume.. 
  • CONFIRM:  did it really come from that person?
  • GUT: is your gut all knotted up? it is usually right
  • CALL: Call your settlement agent (which can be your attorney or title company in most cases)

A few seconds can save you from a really bad day.

Call me for all your residential lending needs!


Robert Rauf 
Mortgage Loan Originator NMLS# 248937 
or my blog: 
Office: (732)908-4868  Cell (732)740-0175

Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 Grand Ave, Building 2 Suite A Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit or for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood 08722 Bayville 08721,

Comments (4)

Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Robert- you cannot remind your clients about this too many times. 

Nov 22, 2021 06:22 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Robert - it's so true that some extra time can save so much.  Dollars and  disasters.  

Nov 23, 2021 03:09 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Kathy Streib not at all, we need to continue to talk about it.  even had that conversation with an attorney at that closing who was talking about changing his email signature to address that.  I told him it needs to be more direct than that. people dont often read that signature "crap"  

Nov 23, 2021 08:44 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Michael Jacobs we must be Constant educators in this business!

Nov 23, 2021 08:45 AM