Duane Buziak is a mortgage broker based in Glen Allen who serves homebuyers and homeowners across Henrico County, helping families find their new homes since 2014. Most fraud warnings are aimed at industry insiders. Borrowers are exposed too, through wire scams, identity theft, inflated appraisals, and offers that target homeowners in trouble. A single bad wire can erase a down payment, and a careless shortcut on an application can sink an approval.
This checklist is written for general and first-time buyers in Short Pump, Glen Allen, Innsbrook, and neighboring Henrico communities. It works in two directions: avoiding being scammed, and avoiding accidental misstatements that look like fraud to an underwriter.
Written by Duane Buziak, NMLS #1110647 | Coast2Coast Mortgage LLC NMLS #376205
1. Verify Wire Instructions by Phone
Wire fraud works because closing involves large, time-pressured transfers and a flood of emails. Criminals who compromise or imitate an email account send “updated instructions” at the last minute, and wires are very hard to reverse once sent. The FBI’s Internet Crime Complaint Center tracks business email compromise, including real estate transactions, in its annual report, and it remains one of the costlier categories of cybercrime.
For example, imagine a Glen Allen buyer who gets an email two days before closing saying the title office has changed banks. Instead of replying, the buyer calls the title office at a number saved from the first agent packet. The staff member says no changes were made, and the account number in the email is wrong. The wire never leaves.
To put this into practice:
- Save the title company’s phone number from its website or your agent’s initial packet on day one.
- Call that number to confirm the routing and account numbers.
- Ask the staff member to read back the last four digits of the account.
- Repeat the call if any change appears, however official it looks.
- Send a small test wire only if the title company approves it.
The classic mistake is replying to the email thread or calling the number printed in the suspicious message. Both lead straight to the scammer. Know where your number came from before you dial.
To measure it, every wire should be confirmed by phone, with the date and the name of the person you spoke with written down before funds leave.
2. Protect Your Identity Before You Apply
A mortgage application collects your Social Security number, income, bank details, and address history in one place, which makes it a target. A credit freeze blocks new creditors from opening accounts in your name, so a thief who steals your data cannot use it easily. The FTC’s credit freeze guidance explains that freezes are free and do not affect your existing score.
Suppose a Short Pump buyer freezes all three bureaus, then thaws them only for the window when the broker’s authorized pull and underwriting happen. After closing, the buyer refreezes. Early shopping stays low-risk because a credit-safe pre-qualification, such as Duane Buziak’s NoTouch Credit Pull, lets you see your options without a hard inquiry.
- Create an online account with each of the three bureaus.
- Freeze all three.
- Get pre-qualified through a no-credit-impact process.
- Schedule the thaw for the underwriting window and ask your broker which bureaus will be pulled.
- Refreeze after closing.
- Review your reports at annualcreditreport.com for errors or accounts you do not recognize.
Two mistakes are common. Buyers freeze one bureau and assume they are covered, or they leave everything frozen and panic when a pull is needed. Keep your login details handy and ask the broker to tell you the thaw date.
The measure is zero unexplained inquiries or accounts on all three reports during the loan and in the months after.
3. Document Income and Assets Honestly
Occupancy fraud, income inflation, and undisclosed debt are the borrower-side misstatements that cause the most trouble. Many are not planned. A buyer rounds income up, or moves cash between accounts, and the file suddenly looks inconsistent. Underwriters verify what they see, and a clean paper trail protects you more than a flattering number does.
For example, a self-employed Innsbrook buyer has uneven income. Rather than pushing a best-month figure, the buyer provides two years of tax returns and bank statements, and the broker matches the real numbers to a program that fits. Because a broker can compare programs across many wholesale options, the honest file often finds a path that shading would have blocked.
| Feature | Duane Buziak | Single-shelf mortgage company | Why It Matters |
|---|---|---|---|
| Program access | Hundreds of wholesale lenders to match your real file | One set of programs and guidelines | An honest file with uneven income may fit one program but not another. |
| Pricing comparison | Options compared across sources | One rate sheet | You see trade-offs instead of a take-it-or-leave-it quote. |
| Early credit exposure | NoTouch Credit Pull pre-qualification | Often a hard pull to start | Fewer inquiries means less identity and score exposure. |
| Local proximity | Glen Allen office serving Henrico | May be remote or out of area | Face-to-face handling of sensitive documents. |
Practical steps: gather tax returns, pay stubs, bank statements, and signed gift letters; disclose every debt; state your occupancy plan truthfully; and ask your broker to walk through program options before you apply. Large undocumented deposits and shaded income are the mistakes to avoid. If money came from somewhere unusual, say so up front.
The measure is simple: every number on the application traces to a document, and no unexplained deposit is left for the underwriter to ask about.
4. Understand and Respect the Appraisal Process
Appraisal fraud usually means inflated values, pressure on the appraiser, or fabricated comparable sales. Appraiser independence rules exist so that the value is not steered toward a number. As a borrower, your job is not to influence the report but to read it critically.
Imagine an older Tuckahoe home that appraises below the contract price. The buyer requests the report, reviews the comparable sales with the agent, and negotiates a price adjustment instead of calling the appraiser. A low value is information, not proof of wrongdoing, especially for older homes where updates are hard to compare.
- Request a copy of the appraisal report as soon as it is done.
- Check each comp for distance, sale date, size, and condition. A Lakeside comp three miles away on a different street type may not be a fair match.
- If you find a factual error, submit a reconsideration request through your broker or agent, not directly to the appraiser.
- Talk with your broker about options if value is low: renegotiating, adding cash, or exercising the contingency.
The common mistake is contacting the appraiser directly, or assuming a low number means fraud. Either can delay or damage a file.
To measure it, you should have the report in hand, with comps checked, before your appraisal contingency deadline passes.
5. Vet the People Handling Your File
Fraud often depends on a stranger who looks legitimate. Mortgage originators and companies must be licensed, and you can check this yourself on NMLS Consumer Access, a free public database showing licensing status, employment history, and any regulatory actions. That is how you learn whether the person asking for your Social Security number is who they say they are.
For example, a buyer searches an originator’s name, confirms an active Virginia license tied to a specific company, and then searches the company’s own record before sending any documents. It takes about five minutes.
- Search the individual’s and the company’s NMLS numbers. Duane Buziak‘s is #1110647.
- Check Virginia State Corporation Commission records through the SCC website.
- Ask for written estimates, not verbal quotes.
- Confirm who will actually process, underwrite, and close your file.
- Use a secure upload portal, not ordinary email, for pay stubs and tax returns.
The mistake is trusting a name or logo without looking it up, or emailing a bank statement to an address you have not confirmed. Look for the same name and number on the website, the estimate, and the registry.
Record the confirmation for each party, including originator, company, title office, and agent, before any sensitive documents leave your hands.
6. Watch for Foreclosure Rescue and Equity-Stripping Scams
These scams prey on homeowners who are behind on payments or exploring a cash-out refinance. The pitch is usually urgency plus an upfront fee, a request to sign over a deed, or a “lease-back” that quietly moves ownership. The goal is to strip your equity, not save your home.
Suppose a homeowner near River Road gets a mailed “save your home” offer that asks for a deed transfer. Instead of calling the number on the flyer, the homeowner calls the mortgage servicer directly and then contacts a counselor through HUD’s approved housing counselor search. The counselor explains real options and confirms the offer is a red flag.
For Segment A homeowners, high-balance or cash-out borrowers with substantial equity, the stakes are larger. The FHFA’s 2026 conforming limit is $806,500 baseline and $1,249,125 in high-cost areas, and loans above those thresholds are jumbo, where larger balances attract more sophisticated pitches. Legitimate cash-out options have rules: conventional cash-out is capped at 90% loan-to-value, and VA cash-out can reach 100%. Anyone promising more, or promising to “guarantee” approval, deserves scrutiny.
- Ignore unsolicited offers.
- Call your servicer using the number on your statement.
- Use a HUD-approved counselor, who does not charge for foreclosure prevention help in the typical case.
- Have an attorney review any deed or title document before you sign.
- Compare refinance options through a licensed broker.
The costliest mistake is paying an upfront fee or signing a deed in a rushed meeting. To measure it, no payment or signature should happen before you verify the offeror’s license and a counselor or attorney reviews the documents.
7. Review Every Disclosure Line by Line
The Loan Estimate and Closing Disclosure are your best evidence of what you were promised and what you will actually pay. Fees that appear late, rates that shift, or terms that quietly change are caught only by comparing the two. Under CFPB rules, you should receive the Closing Disclosure at least three business days before closing; confirm current requirements on the CFPB’s Closing Disclosure page.
Here is a worked illustration. Imagine a $450,000 purchase with 10% down ($45,000), leaving a $405,000 loan. At an assumed 6.5% fixed rate over 30 years, principal and interest is about $2,560 a month, before taxes, insurance, and mortgage insurance. Your Closing Disclosure then shows a $1,800 fee that was not on the Loan Estimate. That is a written question to send now, not a surprise to absorb at the table.
- Place the Loan Estimate and Closing Disclosure side by side.
- Mark every difference in fees, rate, cash to close, and loan amount.
- Send your questions in writing to your broker and the title office.
- Request corrections before closing day, not during it.
The common mistake is skimming the Closing Disclosure at the closing table, when there is no time left to resolve issues. Some fee increases are permitted and others are not, so ask which category applies.
The measure: every fee difference is explained in writing before the closing appointment.
Where to Start: Two Habits That Prevent the Largest Losses
Do the wire call-back and the credit freeze first. Those two habits prevent the biggest and least recoverable losses, and each takes less than an hour. After that, verify licensing before you share documents, and read your disclosures side by side. Honest documentation, a calm approach to appraisals, and skepticism toward rescue offers then become routine.
Your dream home in Henrico County is closer than you think. Discover exactly what you can afford with our credit-safe pre-qualification process that protects your score while unlocking your options. Get pre-qualified today and take the first step toward homeownership with a local mortgage expert who understands your community. You can also call Duane Buziak at 804-212-8663.