Protect Yourself from Mortgage Scams: 8 Essential Tips

In recent years, scams have cost consumers millions of dollars, with homeowners being among the top targets. Mortgage scam artists often prey on homeowners' need for mortgage assistance or a desire to refinance. They may pose as a mortgage company, a non-profit, or a government agency, using various methods such as mail, email, phone, text, social media, or even in-person contact to deceive their victims. To help you stay protected, we’ve outlined eight key strategies below.

If you’re a Servion Group customer, we may contact you by email or text from time to time. Use the following tips to ensure that it’s really us. We’ve also included information on our communication practices at the end of this article. When in doubt, don’t respond—contact us directly.

1. Only Apply for Mortgage Assistance with The Servion Group via Your Financial Institution

When seeking mortgage assistance, always apply through The Servion Group via your financial institution. As your mortgage servicer, it’s crucial that you go through your bank or credit union, which partners with us. Scammers may try to convince you to apply elsewhere, but you can protect yourself by contacting your financial institution directly through verified phone numbers, websites, or email addresses. Don’t fall for imposters pretending to represent us or your financial institution.

2. Be Suspicious of Unsolicited and Government Offers

Unsolicited mortgage offers should always be approached with caution. Verify them before responding, using confirmed phone numbers and emails. While we may reach out to you with offers of help, follow the tips in this article to ensure it’s really us. If you’re ever unsure, stop communicating and contact us or your financial institution directly.

Additionally, be wary of offers that appear to come directly from government agencies. Entities like HUD, the Consumer Financial Protection Bureau (CFPB), and government-sponsored enterprises like Fannie Mae or Freddie Mac will never contact you to offer a loan modification. According to the FCC, these agencies will also never call you to request money or personal information.

3. Contact HUD-Approved Housing Counselors for Help

If you need assistance understanding your relief options or negotiating with us, reach out to a HUD-approved housing counseling agency. They provide free information on foreclosure prevention, debt management, and can offer translation or language assistance. Remember, legitimate housing counselors will not contact you first. You can find a list of HUD-approved agencies by contacting:

• The U.S. Department of Housing and Urban Development (HUD) at (800) 569-4287 or www.hud.gov/counseling
• The Consumer Finance Protection Bureau (CFPB) at (855) 411-2372 or www.consumerfinance.gov/mortgagehelp

4. Watch for Warning Signs

Scammers often give themselves away through certain warning signs. They may:

• Ask for sensitive information or request you “complete a loan application” via phone, email, or text.
• Send trial or modification agreements from the “Underwriting Department” or “Loan Modification Department.”
• Charge a fee for applying for forbearance or mortgage assistance (Note: The Servion Group, through your financial institution, never charges fees for mortgage assistance).
• List your full Social Security number in written communications.
• Use threats of foreclosure or apply pressure. Real mortgage assistance is designed to help, not intimidate.
• Tell you to sign over your home’s title or transfer your property deed.
• Instruct you to send mortgage payments to a new address or make payments to any third party.
• Request upfront payments through unconventional methods like a prepaid debit card or wire transfer to an individual.

5. Hang Up on Phone Scams

Phone scams can be highly convincing. Here’s how to protect yourself:

• Don’t answer calls or texts from unfamiliar numbers.
• Watch out for “call spoofing”—scammers may disguise their caller ID as a legitimate company number.
• Hang up immediately on automated calls asking for personal information like your loan number or Social Security number. The Servion Group, or your financial institution, will never request this information in an automated call.
• If a call seems to be from The Servion Group or your financial institution but feels suspicious, hang up and call back on a verified number to confirm its authenticity.

6. Beware of Online Scams

Online scams are often well-disguised. Stay vigilant by:

• Being suspicious of messages asking you to update your mortgage account’s password or fill out a loan application.
• Avoid clicking on links unless you can verify their URLs, as they may lead to viruses or identity theft.
• Double-checking email addresses for misspellings or unusual domains like “gmail.com.”

7. Stay Informed

Keep yourself updated on the latest scam prevention tips by regularly checking resources such as:

• Consumer Financial Protection Bureau
• Federal Communications Commission
• Federal Trade Commission
• Fannie Mae
• Freddie Mac
• HUD Office of Inspector General

8. Report Scams

If you believe you’ve been a victim of a scam, contact The Servion Group through your financial institution’s secure messaging system or by calling a verified number. You can also report scams to federal agencies like the FBI, Federal Trade Commission, or the Federal Housing Finance Agency Office of Inspector General. Visit the “Report Scams and Frauds” page at USA.gov for additional resources. Reporting your experience can help protect others from falling victim to similar schemes.

By staying vigilant and informed, you can protect yourself from the growing threat of mortgage scams. At The Servion Group, we’re here to help—always reach out to us or your financial institution directly with any concerns.