The FCC is warning of a mortgage assistance scam that impersonates 400 lenders

I Federal Communications Commission (FCC) this week warned consumers in all 50 states that scammers are posing as mortgage lenders by calling homeowners and asking them to pay money.

The scam, called “Green Mirage,” involves callers contacting homeowners who often “seek to be relieved of their original mortgage and expect to be contacted,” the FCC warning reads, adding that the callers often know specific information such as the homeowner’s. name, address and current or former mortgage lender.

The agency noted that fraudulent callers are impersonating legitimate lenders by spoofing the caller ID number of the homeowner’s actual lending institution. The FCC estimates that Green Mirage caused more than 400 home failures.

“The callers are pleading with the home owner that they have to pay in a different way than the way they usually pay for the house. Typically, the callers demand payment by asking consumers to send money orders to third-party ‘lawyers’ and representatives or to load funds into Walmart Green Dot Money Card accounts,” the alert reads.

The FCC estimates hundreds of thousands of dollars in losses for homeowners based on the current volume of consumer complaints. The organization also said that many only learn about the fraud when their debtor begins the foreclosure process.

The FCC’s latest warning builds on previous warnings about scams following natural disasters. As California homeowners and renters continue to battle the LA wildfires, many are expected to contact their lenders, which could put them at risk of mortgage scams.

The FCC warns of “federal officials” asking for money or calls/texts asking for financial account information. If someone calls claiming to be a government official, the FCC recommends that you hang up and instead call the number listed on that government agency’s official website.

Insurance fraudsters also tend to act quickly after hurricanes. “If you receive a call about an insurance or insurance claim, do not provide any personal information or accept any payment until you have independently verified that the call is legitimate. If the caller claims to be from your insurance company, hang up and contact your agent or company directly using the number on your account statement,” the FCC recommends.

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