Feds Arrest 47 in $14 Million Real Estate Wire Fraud Scheme

The feds have arrested 47 people in the US and abroad and recovered $14 million in Operation Wire Wire a coordinated law enforcement effort by the U.S. Department of Justice, U.S. Department of Homeland Security, U.S. Department of the Treasury and the U.S. Postal Inspection Service conducted over a six month period. “This operation demonstrates

Read More

DCRA’s Housing Bloom Workshop on June 19

On June 19 from 6:00 to 8:00 PM, DCRA will host Housing Bloom Workshop. Housing Bloom is Mayor Muriel Bowser’s annual month-long initiative that showcases how the public and private sectors are partnering to both produce and preserve affordable housing and revitalize neighborhoods across the District. For more information, contact: Jacqueline Noisette (202) 442-8170. Location: 1100 4th Street

Read More

Industry News

Federal Sting Disrupts, Recovers $14 Million in Fraudulent Wire Transfers

Federal authorities—including the Department of Justice and the FBI—coordinated a major law enforcement effort to disrupt international Business Email compromise (BEC) schemes designed to intercept and hijack wire transfers from businesses and individuals. The six-month sweep called Operation WireWire resulted in 74 arrests (42 in the United States), as well as the seizure of nearly $2.4 million and the disruption and

Read More

BuyerDocs Unveils Service That Sends Wire Instructions Via Text

BuyerDocs recently launched a service that allows companies to send text/call notifications to alert homebuyers of their wiring instructions. This is an additional notification to the email the homebuyer also receives. Here’s an example of the text message homebuyers receive: The dialog for the phone call notification is created using Google’s text-to-speech API, which incorporates the

Read More

ALTA Promotes Capitol Hill Day on Pandora

ALTA is advertising on Pandora to inform members of Congress and their staff about our upcoming Advocacy Summit and Capitol Hill day on May 23.  Below is an image of the ad and you can also listen to the recording. Pandora_recording How Congress Can Help Fix Consumer Confusion When Buying a Home Pass TRID Improvement Act

Read More

How Congress Can Help Fix Consumer Confusion When Buying a Home

Pass TRID Improvement Act Under the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosures (TRID) rule, title insurance companies are not permitted to disclose available discounts for title insurance on TRID’s required disclosure forms. This creates inconsistencies in mortgage documents, causes confusion for homebuyers and undermines trust in the homebuying process. The bipartisan TRID Improvement

Read More