MBA Warns Members of E-mail Scam

Members of the Mortgage Bankers Association (MBA) are being advised to be on the alert for an online scam that masquerades as a financial transfer transaction.

According to the trade group, the phony e-mails carry the MBA logo, but are supposedly from the managing director of something called "Bankers Association Warehouse" and originate from a non-MBA e-mail account. The e-mail recipient is informed that a credit facility of $2.5 million awaits them if they provide the sender with their confidential data, including bank account numbers.

While it is not immediately clear where these e-mails are coming from, the MBA is advising its members not to provide any confidential data to the sender and to place the message in the e-mail trash folder.