4 ms·

What sensitive data do you think is on a loan estimate? I've received a dozen over the years and it's literally just your name and the address of the property y

What sensitive data do you think is on a loan estimate? I've received a dozen over the years and it's literally just your name and the address of the property you want to buy. Both of which are public information if you do purchase the property.

Brian_K_White 2y ago
Public info that you bought a property is entirely different from info about all the properties you are searching for and seriously considering. Especially being able to couple that with what you eventually did later.
- parsimo2010 2y ago
  If you're uploading a loan estimate you've already made a loan application for a specific house- this isn't going to give them information on every house you were considering, it is probably just the single house which accepted your offer and are shopping around for financing.
- 293984j29384 2y ago
  Why would a name and a random property address have value before the transaction, but not after it?
  - sangnoir 2y ago
    Well, one is before they spend a lot of money, and the other is after. In only one of those scenarios are they prone to spear-phishing wire fraud on the Title deposit. The victim is already primed, and has indicated they have gobs of money set aside.
lolinder 2y ago
We're talking about enough information to create a list of people who are in the process of making the largest purchase of their lives, coupled with the name of the businesses that they're considering sending money to and the exact dollar amounts that they're considering sending. Scammers pay a lot of money to people who can get them those kinds of lists.
- 293984j29384 2y ago
  Except that's not how it works. You don't pay the mortgage company, you pay the seller.
  - nijave 2y ago
    In the U.S., you pay the title company which acts as or with an escrow company. The escrow company disperses funds to the correct companies once the proper paperwork and all conditions of the sale are met. This could include paying the mortgage company fees and prepaid interest or paying the seller.
nijave 2y ago
As others have mentioned, title fraud. My recent closing disclosure has buyer, seller, agent, and title company. It'd be pretty easy to call the buyer claiming to be the title company and request a wire for exactly the right amount to a fraudulent location.
- 293984j29384 2y ago
  I'm skeptical anyone here has actually bought a house. That's not how it works at all.
  - nijave 2y ago
    Not sure what you mean. Just bought a house in the U.S. last month. Title company called and left a voicemail saying they emailed wire instructions and to call to verify with them then check with lender on correct closing amount. The email came from the title company domain so it was easy to verify but literally anyone could have called and mentioned the same.
  - ramon156 2y ago
    Because every country has agreed on a standard procedure
    - 293984j29384 2y ago
      Why would that be a factor? This website only analyses US based loans.
kojeovo 2y ago
You are also signalling that you have enough money to buy said house and are actively in the process of doing so which makes you a mark. And if there is a whole DB of this info readily available... Anyways the security could be fine. But if a user's primary action is uploading that document then maybe wanna have more than a quick sentence on it.

Brian_K_White 2y ago

Public info that you bought a property is entirely different from info about all the properties you are searching for and seriously considering. Especially being able to couple that with what you eventually did later.

parsimo2010 2y ago
If you're uploading a loan estimate you've already made a loan application for a specific house- this isn't going to give them information on every house you were considering, it is probably just the single house which accepted your offer and are shopping around for financing.
293984j29384 2y ago
Why would a name and a random property address have value before the transaction, but not after it?
- sangnoir 2y ago
  Well, one is before they spend a lot of money, and the other is after. In only one of those scenarios are they prone to spear-phishing wire fraud on the Title deposit. The victim is already primed, and has indicated they have gobs of money set aside.

lolinder 2y ago

We're talking about enough information to create a list of people who are in the process of making the largest purchase of their lives, coupled with the name of the businesses that they're considering sending money to and the exact dollar amounts that they're considering sending. Scammers pay a lot of money to people who can get them those kinds of lists.

293984j29384 2y ago
Except that's not how it works. You don't pay the mortgage company, you pay the seller.
- nijave 2y ago
  In the U.S., you pay the title company which acts as or with an escrow company. The escrow company disperses funds to the correct companies once the proper paperwork and all conditions of the sale are met. This could include paying the mortgage company fees and prepaid interest or paying the seller.

nijave 2y ago

As others have mentioned, title fraud. My recent closing disclosure has buyer, seller, agent, and title company. It'd be pretty easy to call the buyer claiming to be the title company and request a wire for exactly the right amount to a fraudulent location.

293984j29384 2y ago
I'm skeptical anyone here has actually bought a house. That's not how it works at all.
- nijave 2y ago
  Not sure what you mean. Just bought a house in the U.S. last month. Title company called and left a voicemail saying they emailed wire instructions and to call to verify with them then check with lender on correct closing amount. The email came from the title company domain so it was easy to verify but literally anyone could have called and mentioned the same.
- ramon156 2y ago
  Because every country has agreed on a standard procedure
  - 293984j29384 2y ago
    Why would that be a factor? This website only analyses US based loans.

kojeovo 2y ago

You are also signalling that you have enough money to buy said house and are actively in the process of doing so which makes you a mark. And if there is a whole DB of this info readily available... Anyways the security could be fine. But if a user's primary action is uploading that document then maybe wanna have more than a quick sentence on it.