If you happen to receive any correspondence that tells you that the servicing of your mortgage loan has been transferred from your regular bank to another servicer, double check with your old servicer. Some scammers in the Las Vegas area had developed a new wrinkle to identity theft.
This time, instead of stealing individual idientities, they stole the corporate identity of Bank of America. I guess this means that if you are going to steal you might as well go big.
The scam involved sending letters to homeowners falsely stating that servicing of the homeowners’ loans had been transferred from Bank of America to Great Western Business Services. The letters instruct homeowners to send their mortgage payments to Great Western Business Services instead of the true servicer, Bank of America.
The alleged scam would result in victims unknowingly missing one or more mortgage payments which could result in a potential notice of default and foreclosure, despite the fact that the homeowner had actually made their payments, albeit to the scammers instead of their true loan servicer.
So, the bottom line was that not only did B of A not receive their payments, the payor was now suddenly delinquent.
At least in this case, the perpetrators have been arrested.
But, once again, verify any communication you might receive from the bank.
Also see this story.
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