Protecting Yourself from Identity Theft

Why Identity Theft is a Big Concern for Homeowners

Owning a home generates many sensitive financial documents like mortgage applications and property deeds, all complete with your personal information. Cybercriminals are always on the hunt for private data like bank accounts and Social Security Numbers. This information could end up on the dark web, while other information about you is publicly available. With these resources, fraudsters could get their hands on your credit report, a copy of your driver’s license, your signature and more.

Once criminals have enough information about an individual, they may attempt to make fraudulent transactions that could damage your credit and your finances, and the harm can be difficult to undo.

How Scammers Profit from Your Mortgage

Once a scammer has your information, they could contact your lender and attempt to use your information to “authenticate” your identity. The scammer may then attempt to make changes to your account, such as changing the associated address, phone number or login details. Scammers may attempt to access the equity you’ve built up in your home, requesting checks or attempting to make draws.

Newrez takes measures to protect our customers from identity theft. Know that when we ask for extra verification of your identity if you make changes to your account or request a draw, this is to protect your financial security.

Beware of Fraudulent Calls, Texts and Emails

Scammers often pose as mortgage lenders, bill collectors or other authorities to trick homeowners into providing personal information.

• Do not let anyone pressure you. Scammers will often create a sense of urgency in calls and emails and suggest negative consequences for not responding. End contact and proceed to the next step.
• Verify the contact with the company directly. If you’ve received an urgent email from someone who claims to be your lender, reach out to your lender using the phone number on their website and check to see if they’ve contacted you.
• Beware links in suspicious emails or texts. If you receive an email or text requesting information or payment, double check the address it was sent from. If it seems suspicious, do not click links or use phone numbers listed in the email or text.

Important Note: Newrez will never ask for sensitive information via email or in a text.

Secure Your Devices

Always protect your information online by enabling security measures on your computer and phone.

• If your bank or other business with access to your personal information offers you the option to use multi-factor authentication, take advantage of it.
• Use strong passwords with a mix of letters, numbers and symbols and avoid reusing them across accounts.
• Use biometric authentication when available.
• Be cautious when connecting with public wifi networks and avoid using sensitive accounts on unsecured networks.
• Monitor your credit and online accounts for any suspicious activity.

What To Do If Your Information Might Be Compromised

If you suspect you’ve been targeted by identity thieves:

• Contact your lender right away to secure your account.
• Report the fraud to the Federal Trade Commission at identitytheft.gov.
• Request a credit freeze with the three major credit bureaus.

At Newrez, your security is our top priority. If you see anything suspicious, please call us immediately.

By thinking twice before providing your sensitive personal information and taking extra steps to secure your data online, you can protect your credit and your financial future.

Looking for a mortgage lender that cares deeply about your financial security? Get started with Newrez.