Wire Fraud Warning for
El Paso Home Buyers
Criminals target homebuyers during the days before closing, sending fake wire instructions designed to steal your down payment. Here's how to protect yourself.
Warning Signs of Wire Fraud
Unexpected Wire Instructions
Fraudsters send emails that look identical to your title company's, with slightly different bank account numbers. Any change to wiring instructions mid-transaction is a red flag.
Last-Minute Changes
Wire fraud often happens in the final 48–72 hours before closing. Criminals know buyers are stressed and may act fast without verifying details.
Lookalike Email Addresses
Watch for emails from domains like 'stewarttiitle.com' (extra 'i') or 'fidelitynationai.com' (lowercase 'L' instead of capital 'I'). These are designed to fool you.
Urgency Pressure
Real title companies do not pressure you to wire immediately or threaten to cancel closing if funds aren't sent within hours. If it feels rushed and urgent — it's likely fraud.
How to Protect Your Closing Funds
Verify Wire Instructions by Phone
Before wiring any money, call your title company using a number you independently verified — not a number from the email itself. Confirm the exact account and routing numbers verbally.
Never Change Wire Instructions by Email
A legitimate title company will never ask you to change wiring instructions via email. If you receive such a request, assume it is fraud and call immediately.
Double-Check Account Numbers Digit by Digit
Read each digit of the account number back to your title officer over the phone. One transposed digit sends your money to the wrong account.
Act Immediately If You Suspect Fraud
If you believe you wired money to a fraudulent account, call your bank's fraud line immediately. Quick action (within hours) can sometimes reverse the wire before it is collected.
Frequently Asked Questions
How common is real estate wire fraud?
The FBI reports over $446 million lost to real estate wire fraud annually. It is one of the fastest-growing cyber crimes targeting homebuyers, with El Paso buyers not immune to these attacks.
Will I get my money back if I'm a victim of wire fraud?
Recovery is very difficult. Wire transfers are not like credit card payments — once the money moves and the fraudster withdraws it, recovery rates are low. Prevention is the only reliable protection.
Is my title company responsible if I wire to a fraudulent account?
Generally no — if you wired money based on fraudulent instructions you received in a spoofed email, the title company is typically not liable. Always verify independently.
How does ProGen protect buyers from wire fraud?
ProGen verbally confirms wire instructions with both the buyer and the title company before any funds are sent. We also educate every buyer on these risks at the start of the transaction.
Can I use a cashier's check instead of a wire transfer?
Yes. Some title companies accept certified cashier's checks from local banks. Discuss this option with your title company — it eliminates wire fraud risk entirely for your closing funds.
ProGen Real Estate · Josue R. Jimenez, Licensed Texas Real Estate Broker · TREC #619091 · (915) 691-1082