know fraud to stop fraud - part 6

By: Laura Byerly and Freddie Mac

March 31, 2020

Recognizing Phone Spoofing
scam alert

The Federal Home Loan Mortgage Corporation, also known as Freddie Mac, is a public government-sponsored enterprise that buys mortgages from lenders like MidWest America then sells them as mortgage-backed securities. In doing this, it removes some of the risks to the Credit Union and allows us to then loan out more money to you, our members.

Freddie Mac recently contacted us about a scam where homeowners get a phone call that appears to be coming from “Freddie Mac” – but the caller is an impostor as Freddie Mac does not directly contact homeowners. This scam is known as spoofing. Consumers are reporting that:

    • Caller ID displays the calls as coming from 1-800-FREDDIE
    • Callers had publicly available information (i.e., street address or mortgage servicer name), which they attempted to use to gain consumers’ trust. In some cases, consumers receive multiple calls in a day.
    • Callers often don’t leave a message, but when they do reach a consumer, they offer a low-interest rate on a new loan or other false promises.

Please remember

    • Be cautious with Caller ID. Scammers can make any name or number appear from anywhere in the world.
    • Let it go to voicemail. If a call is important, the caller will leave a message.
    • Hang up. If it's a robocall, don't press any numbers. Just hang up.
    • Offer no information. Never give out personal, financial or other sensitive information.
    • Be suspicious. Freddie Mac will not call you directly to promote an offer to refinance or obtain a new loan.  
    • Block calls. Contact your internet provider or phone carrier to stop unwanted calls.
    • Report fraud. Reach out to us or contact the Freddie Mac Fraud Hotline at 800-4 FRAUD 8.

If you are concerned that a call is not legitimate, you should hang up and call MidWest America at 800-348-4738. Your Mortgage Specialist can assist you with your concerns or any of your other mortgage needs.