Consumer Alerts – WA Department of Financial Institutions (DFI)

One of the most critical roles of the WA Department of Financial Institutions (DFI) is informing consumers to potential/active financial threats. The DFI website issues consumer alerts online to through http://www.dfi.wa.gov/.

One of the most critical roles of the WA Department of Financial Institutions (DFI) is informing consumers to potential/active financial threats. The DFI website issues consumer alerts online to through http://www.dfi.wa.gov/.

Consumer Alert: Countrywide Financial Corp.
Scammers Using Company Name

Scam artists have been using the name Countrywide Financial Corp. as part of an advance fee loan scam. In addition to the name, these scammers give out the address of Countrywide’s Atlanta branch office and may use the names of actual Countrywide employees.

The scammers contact victims offering a small business loan. As part of the loan application, victims are told that they will need to purchase insurance. The victim is directed to wire money to an individual in Canada and that loan proceeds will be wired to their bank account within 24 to 48 hours. Once the money is wired, no loan is ever received.

Consumers should never wire money in order to obtain a loan. Victims should report their experiences to the Internet Fraud Complaint Center at www.ic3.gov.

Consumer Alert: Nationwide Lending Corporation
The company advertises on the Internet indicating that it can provide loans, consolidation loans, and home mortgages. Consumers are asked to send a voided check and an additional check for $2,500. After receipt of the checks, National Lending Corporation states they would then deposit two separate checks in the amount of $35,000 within the next two month. This appears to be another advance fee loan scam.

The website lists National Lending Corporation’s address at 1301 Lafayette, Detroit, MI 48226. National Lending Corporation has no known office in the state of Washington. Its website does not list Washington State as a state in which it is licensed. The company is not licensed by the Washington State Department of Financial Institutions.

There is a National Lending Corporation that is licensed with the Washington State Department of Financial Institutions that is not affiliated with the above referenced company.

Victims should report their experiences to the Internet Fraud Complaint Center at www.ic3.gov.

Consumer Alert: Broadway Lending Group
Consumers are finding Broadway Lending Group’s website and are contacting them regarding obtaining a loan. The company requires the consumer to pay a certain number of monthly payments in advance of receiving loan proceeds. This appears to be an advance fee scam.

According to information provided to the Better Business Bureau, potential borrowers are requested to complete an online application requesting personal information such as income, social security number, and date of birth. The consumers are then contacted by a “Senior Loan Consultant” who requires completion of additional paperwork that includes financial account information. Consumers are told to wire advance payments via Western Union to Canada prior to the release of the loan.

Broadway Lending Group claims to have an address of 740 Duke Street, Norfolk, VA 23510. This is a valid address, but they are not located at this address. According to the Virginia Bureau of Financial Institutions, Broadway Lending Group is not licensed as a lending institution in Virginia.

Broadway Lending Group is not licensed by the Washington State Department of Financial Institutions and is not listed with the Washington Secretary of State, the Department of Licensing, or Department of Revenue to do business in Washington.

Consumers should contact the FTC at 1-877-FTC-HELP or www.ftc.gov, Phonebusters at 1-888-495-8501 or www.phonebusters.com, and Internet Fraud Complaint Center at www.ic3.gov.