The future of money movement in real estate

We’re at an inflection point. The way money moves in real estate hasn’t changed since the early 1980s—we’re still relying on wires, checks, email, phone calls, even fax machines to move $2 trillion in and out of escrow every year. And the system handling it is now more than 40 years old. Money should flow […]

Payoff Verification: What the Real Estate Industry Needs to Know

Payoff Fraud is on the Rise It might be tempting to assume this increase in scams was made possible by the ongoing COVID-19 pandemic, but that’s not the case. Payoff fraud was becoming more common well before the pandemic began. Predictions from years ago claimed that this method would overtake buyer-side fraud in “the coming months.” That […]

Escrow Scams: What Every Title Company Should Know

E-commerce continues to gain popularity in the real estate industry and elsewhere. As a result, it’s more important than ever to make sure your title company has a plan in place to deal with escrow scams. These scams, which involve fraudsters posing as trustworthy escrow services during real estate deals and other transactions, have exploded in […]

4 Ways To Prevent Real Estate Fraud

Real estate fraud hurts everyone but the scammers themselves, including trustworthy home buyers, real estate agencies, and attorney offices. And the problem is continuing to grow. In 2019 the FBI looked into 23,000 complaints related to Business Email Compromise, or types of fraud where legitimate email accounts belonging to businesses are hijacked or impersonated by scammers. […]

Why You Should Stop Emailing Out Wire Instructions

It’s not a great idea to open emails from Nigerian princes, but it’s a terrible idea to actually wire those princes any funds, no matter how great the promised payout is. So, what about when you’re working with a credible title agency or settlement company on the sale of a property? Sending and receiving documents […]

What to Know About Payoff Fraud

Technology has become a new normal, offering individuals and businesses unprecedented ways to connect to an ever-expanding digital world. Unfortunately, these innovations have also opened the door to criminals who now have a variety of methods with which to scam consumers and businesses alike. One of the latest threats comes in the form of payoff […]