Mortgage scams take a nosedive following latest FCC action

In recent months, the Federal Communications Commission (FCC) has made one thing abundantly clear: If you perpetrate robocall scams, they’re coming for you.

In its latest move, the agency ordered telecommunications companies to stop carrying traffic from a real estate brokerage that offered homeowners quick cash in exchange for the right to sell their properties at a later date.

The FCC announced the news on Twitter and detailed their efforts in a press release.

“The FCC’s Robocall Response Team today took decisive actions to shut down an apparent homeowner-focused #robocall scam campaign.” - @FCC on Twitter

Since the announcement, mortgage scams have plummeted. We break it all down.

What was the scam and who was responsible for it?

MV Realty is a real estate company that, according to the FCC, sent robocalls to homeowners in an attempt to convince them to mortgage their homes in exchange for immediate financial relief. The brokerage used the platform PhoneBurner to place substantial amounts of robocalls to homeowners registered on the Do Not Call list.

What did the FCC do in response?

Following an investigation, the FCC ordered U.S.-based phone carriers to stop originating voice traffic from MV Realty and PhoneBurner. In addition, they directed Twilio to stop carrying calls from PhoneBurner. (To date, Twilio is the largest voice service provider to receive a cease and desist letter from the FCC.)

What were the immediate effects of the FCC’s actions?

In December 2022, scammers sent an estimated 30.3 million mortgage scam robocalls. The following month, that number dropped to 14.3 million — a 54% decrease. From this, we can conclude the FCC’s actions yielded immediate benefits. It’s worth noting, too, that the agency’s announcement didn’t come until late in the month, so the drop may continue.

What’s the takeaway?

This is the latest in a series of takedowns by the FCC. Notably:

• In November, Robokiller reported that car warranty scams — the most common robocall of all-time — had practically vanished after the FCC took down an illicit operation responsible for billions of them.
• In December, Robokiller reported that student loan scams plunged 88% in a single month after the FCC cut off the source of a major illegal operation.

Bottom line: The FCC is doing its part to identify malicious robocalls and stop them in their tracks. These scams are preventable, and by working together, government agencies, carriers, and third-party apps like Robokiller can keep Americans safe from financial harm.

In the chart below, you can see the full impact of these efforts.

What should I do if I suspect a call is a scam?

If you receive a robocall, the best thing to do is let it go to voicemail — by picking up, scammers know you’re an active phone number they can target with future scams.

If you do pick up, be sure not to give out any personal or financial information. Hang up and call the institution the caller claims to represent using their publicly available phone number. Also be sure not to follow prompts (such as “Press 1”) or click any links if you receive a suspicious text message.

Finally, you can file a complaint online with the FCC.

For full-scale protection, download Robokiller

Scammers are crafty. For proof, look no further than the fact they steal tens of billions of dollars every year over the phone. They’ll pressure you, appeal to your emotions, and even pretend to be someone they’re not in order to steal your hard-earned money.

For true peace of mind and full protection against robocall and robotext scams, you need Robokiller. Our award-winning app is 99.9% effective at identifying and blocking spam calls and texts before they reach your phone.

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