A recent decision in a federal lawsuit has a real estate agent liable for negligently passing on fraudulent wiring instructions. The case has implications for mortgage lenders.
A buyer in a real estate transaction was tricked into wiring funds for a home purchase from an email message that came that from the seller’s real estate agent.
The email message was first received by the agent who then forwarded it on to the buyers without the agent having confirmed that she had legitimate wiring instructions.
Source: Mortgage Daily