February 19, 2021
This morning, details of a new scam were brought to our attention. It was sophisticated and believable. Fortunately, the borrower trusted her instincts and called us directly.
The borrower, who hasn’t even closed on her loan yet, had someone call her posing as our Post Closing Concierge and was offering to transfer her utilities to the new home, and would need her bank account and other personal data to do so. Premium Mortgage Corporation does not offer “Utility Transferring” as part of our Post Closing Concierge service. Should you receive such a call, please report it directly to us at firstname.lastname@example.org.
While applying for a loan, please consider the following precautions:
Double Check Your Emails and ALL Communications
We understand that emails and text messages are convenient however, they’re not always the safest form of communication. Scammers will create authentic looking emails, websites, and hyperlinks to prey on victims asking them for personal information.
These links closely resemble those of the accredited banks borrowers are working with. To confirm a sender is authentic, double-check the email address and phone number. If something seems off, contact your loan officer directly via phone. They will be able to assist you further.
Some red flags for emails and text messages include:
- Unfamiliar Caller ID
- Requests for personal information or money
- Suspicious Hyperlinks (unorganized domain)
- Threats of penalty for no response
Email is not always encrypted from end-to-end. This means that emails can be vulnerable to interception while sending. In other words, it’s not always a guarantee that your emails, received, sent, and archived are secure.
Encrypting your emails before they are sent can stop hackers from intercepting your emails. In the case they are intercepted, the encryption will cause the emails to be unreadable and therefore, useless.
You can read about encrypting your emails based on the service you use through this link: How To Encrypt Your Email
Use a Secured Network
Never use an insecure network to submit any loan applications. If you’re using your network at home, make sure your WiFi is password protected. This will make it difficult for someone to hack into your network. You should never submit documents over a public network.
Generate a Solid Password & Change it Often
A great password is one that is impossible to guess. This will stop hackers from being able to access your online accounts and network. Passwords created with personal information such as a phone number, address, birthday, or pet name are not considered strong passwords. General passwords that are easy to remember, such as “1234,” are also not strong passwords.
When creating new accounts, the system will often suggest a password for you. These suggestions are typically a random mix of capital and lower-case letters, numbers, and symbols. This is a great start to a strong password.
If you’re editing your old passwords, you can use a password generator to ensure your account security. Check out this link for the Best Password Generators in 2021.
Confirm with Your Loan Officer
If you have done everything possible to secure your information but still feel like something is fishy, contact your loan officer directly via phone. It never hurts to ask!
Please be aware that any correspondence from us directly will have our name and logo prominently displayed, along with our contact information.
- We never sell customer data.
- We never ask for wires or payment over phone.
- Just because message names us, it doesn’t mean they are us.
- Always verify the source of text, email or mail to ensure authenticity.
Please send copies of any fraudulent material to email@example.com.