The NEW YORK STATE CLOSERS ASSOCIATION has alerted us to the following information.
Three
incidents have taken place in October regarding NEWREZ payoffs. Fraudulent payoff letters regarding NEWREZ, including fake wire
instructions to overseas accounts are circulating.
SHELLPOINT recently acquired the servicing of NEWREZ.
If you do not see SHELLPOINT mentioned in the payoff letterhead, BE EXTRA CAUTIOUS.
THE CORRECT WIRE INSTRUCTIONS ARE ALWAYS TO WELLS FARGO ON PAYOFFS FOR THIS BANK.
PLEASE BE ON THE LOOKOUT! KEEP YOUR TITLE COMPANIES INFORMED.
CLOSERS HAVE BEEN INSTRUMENTAL IN UNCOVERING THIS FRAUDULENT ACTIVITY. "
As more information is available, we will notify NYSLTA Members.
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