Initially the hacker hacks the title company's email system, they see every email exchange regarding real estate closing.
They pick a house sale, and see's the final closing amount in the closing disclosure sent one day before title transfer. Then hacker sends an fake email in the name of the title company to the buyer, telling them to wire transfer the closing amount to a fake bank account.
If the buyer verifies the information with the title company, he/she will find out it's fake and no money would be lost.
However, if the buyer didn't verify with the tile company and blindly follows the fake email, they would have been wired their house buying fund (tens of thousands of dollars) to the hacker.
