Well, for the most part it's the ignorance of the borrower. Borrowers are told from both title and the realtor in the beginning how it works and that is why they sign this liability clause that all wire instructions are sent usually in 2 parts, 1st being a doc-u-sign, and then you call directly. Here anyway and for most title companies I work for.
It goes in one ear and out the other, and they see these spoof emails and forget all about this part and fall for it. They are doing all they can, but you just can't drill it in enough to the buyer who is not in this business. It's covering their butts in the event it happens, and here it's a lot of it happening still. |
