Points of Interest ©

USAA Customers Must Be Aware of Pop-Up Scams
May 7th, 2009 4:10 PM



USAA, the giant insurance firm is investigating the use of an illegal pop-up that attempts to collect member's sensitive information.

Many of MetFund's clients utilize USAA for their home owner's or hazard insurance.

USAA says that they will not ask for any personal or account information, including PINs or passwords, in an e-mail.

If you have submitted your information into the pop up window, please notify USAA immediately at 1-877-632-3002 or e-mail them at abuse@usaa.com.

Here are some tips to protect yourself from this and other scams.

Pop-ups are a form of online advertising intended to attract web traffic or capture information.  Pop-ups appear in a separate, usually small, browser window.  These windows may include advertisements or ask you to enter personal information such as your credit card account number, expiration date and security code.  By clicking on a link in a pop-up, spyware or malware may be downloaded onto your computer without your knowledge.

Pop-up windows that occur even while you are not browsing the Internet may be an indicator that your computer is infected by spyware or malware.  There are many software programs that block pop-up windows.  Check your security software to see if this is an option that you can enable.

Phishing
These fake e-mails appear to come from legitimate sources.  They ask customers to verify personal information or link to fake websites that appear real.

Beware of e-mails that:

  • Urge you to act quickly because your account may be suspended or closed.
  • Don't address you by name, but use more generic language like "Dear valued customer."
  • Ask for account numbers, passwords or other personal information.

Do not click on any link in these suspicious e-mails.

Pharming redirects
Pharming involves redirecting Internet users to a fake website, even when they entered the correct address.

These bogus sites often look real, but secretly collect any personal information and passwords entered.  Users end up at fraudulent sites by having spyware or a virus loaded on their computer, or by sophisticated hacking tricks.

Beware of any changes to the logon screen.  If you are asked for anything out of the ordinary, do not enter any information.


Posted by Stephen A Myers on May 7th, 2009 4:10 PMPost a Comment (0)

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Mortgage Market Update May 29, 2009
May 29th, 2009 1:11 PM


•  With Moratoriums ending, Foreclosures rise 27% in the 1st quarter.  It is becoming clear that certain homeowners are not eligible for the government-mandated loan modification programs.

•  Sales of newly built homes sold at an annualized rate of 352,000 units in April, a tepid increase from the previous month.  The luxury market continues to suffer heavily.

 


Posted by Stephen A Myers on May 29th, 2009 1:11 PMPost a Comment (0)

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Inflation from the Central Banks, Snake Oil for the Masses
May 19th, 2009 6:08 PM


"As measured by the ratio of debt to personal disposable income, household leverage increased only modestly from 1960 to the mid-1980s, from 55% to 65%.  However, over the next two decades, leverage more than doubled, reaching an all-time high of 133% in 2007.

Meanwhile, over that same period, the massive rise in household debt was accompanied by a steady erosion in the personal saving rate. On the one hand, the combination of increased leverage and lower savings was a powerful force driving a significant amount of U.S. economic growth.  But, leverage can work in two ways; sharply increasing returns on the way up, creating losses at a terrifying pace on the way down.  And even as we've spent the past 15 years enjoying the former while trying desperately to work around the latter, the reality remains: consumption cannot exceed income indefinitely because there is a limit to how much debt can be serviced in the economy."

        ~  Kevin Depew  Five Things for Tuesday, May 19  Minyanville.com


Posted by Stephen A Myers on May 19th, 2009 6:08 PMPost a Comment (0)

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Mortgage Brokers Bring Competition o the Market
May 14th, 2009 12:53 PM

New direction comes from the Obama administration and our Justice Department.  From now on, the government will favor more competition when one company attains dominance in an industry.

The essence of capitalism is competition, so it's an encouraging sign that the government is taking a stand for markets and against monopolies that distort the free enterprise system.

As consumers we need competition to moderate pricing power.  I may be "talking my book" here, but mortgage brokers bring competition to the market.

Now if they'd just do something about all those financial institutions that are too big to fail.


Posted by Stephen A Myers on May 14th, 2009 12:53 PMPost a Comment (0)

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