2,781,173
Monies that are wired into escrows remains their responsibility and concern
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Richie Alan Naggar
Riverside, CA
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
2,220,323
In my area, the closing attorneys are sending wire instructions via secure email and agents are told not to email wiere instructions over unsecure email accounts.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
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Anthony Acosta - ALLAT...
Atlanta, GA
4,800,082
No, not as of yet.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
400,356
When wiring, I advise the client to call escrow and verify the wire information they've received is accurate.
We've been told there have been cases where hackers create an authentic looking email they send to the client. The email has wire instructions that direct the funds to the hacker's account.
My understanding is that the emails are much more believable than the ones claiming to be from Nigerian royalty, government officials and the like.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
6,393,404
The last time we used a wire transfer was while buying from Ocwen, using their Indian closing company.
We closed at my bank and they were very nervous for days surrounding this transaction.
But in the end all worked out well.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
4,882,355
I have not experienced problems with wires, but I leave it up to the client.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
3,345,091
It is still a matter of convenience. It is the banks job to verify transfers. I recently had several commissions wired into my bank ... who took great measures to verify the validity of the wire. They asked a ton of question that only I would know. It was frustrating for me yet I understand the necessity. to do so.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
3,416,038
I think the key is not click on any link but initate the tramsfer at their bank themselves
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
3,071,489
That's up to the lender, the title company, and the Buyer!
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
1,712,676
We have not been affected by it.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
4,572,183
Not yet. We do have an advisory for all parties in the transaction to acknowledge about wire fraud.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
5,216,398
Wire transfer is the only way acceptable here!
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
2,161,048
Our title companies do not accept "certified" funds anymore because there have been counterfeits there as well.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
3,340,443
Here the title company "controls" that method and there has not been a change yet...though we agree...old school is a better safer school.
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Lisa Von Domek
Dallas, TX
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Eric Kodner
La Pointe, WI
3,727,873
Eric, certified checks are looking pretty good right about now.
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Eric Kodner
La Pointe, WI
1,502,998
I'm not seeing any additional precautions taking place. Wires are still happening and are the easiest for the clients.
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Eric Kodner
La Pointe, WI
5,583,278
rarely do we have a wire transfer of funds....the buyers bring a bank check...
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Eric Kodner
La Pointe, WI
2,707,721
It has not been an issue here, secure email seems to be keeping the scammers at bay.
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Eric Kodner
La Pointe, WI
1,622,432
The communication. My escrow girls are very good in it. If someone else would reach my client, I have only one answer: do not do anything without our confirmation, pick up the phone and call the escrow.
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Eric Kodner
La Pointe, WI
1,157,785
851,242
I typically see certified checks at closing & rarely a wire.
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Eric Kodner
La Pointe, WI
4,434,127
516,437
I haven't had any issues with this but will keep my eyes opened regarding it. I just let people do what works best for them.
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Eric Kodner
La Pointe, WI
1,844,291
We are not going to, they've already changed the system over & that's that.
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Eric Kodner
La Pointe, WI
1,197,097
I was not aware of this problem, thanks for sharing.
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Eric Kodner
La Pointe, WI
4,936,677
Not sure if I have heard about this. My title company sooner have a wire
5,868,544
I always let my current clients know there could be scams, and to be on alert!
3,986,258
I was just talking about this with out closer and the company is keeping a close watch on this
582,106
I have closings coming up and all my clients are asking about wire transfer risks.
I'm reading some comments here that are a bit disturbing. A few responses sound like "not my problem" or "we're not going to change and that's that" or "it's the client's problem" or "it's the bank's responsibility".
What I'm asking is this. When a client calls you to ask how they should proceed to make funds available at closing, what do you tell them? Are you qualified to tell them with confidence who is actually responsible? Remember that we are not licensed to practice law.
How do you think clients will respond to your saying "not my problem"?