United Commercial Credit may have been attempting to steal consumers’ money and identity
November 3, 2011 – (RealEstateRama) — The Office of Financial and Insurance Regulation (OFIR) has shut down an operation claiming to be a Detroit mortgage company called “United Commercial Credit” by ordering it to cease and desist from doing business. OFIR believes that the bogus company, through its website, http://www.unitedcommercialcredit.com was posing as a legitimate mortgage and lending company in an attempt to steal consumers’ money and identities. The fraudulent company was encouraging customers to apply for loans by providing personal information including social security and financial account numbers.
“This looks like a classic advance fee scam, where victims are enticed into paying upfront fees for services they never receive,” OFIR Commissioner Kevin Clinton said. “OFIR will remain committed to protecting consumers and shutting down these fraudulent companies.”
OFIR contacted United Commercial Credit’s website host and the website has been shut down.
Following a consumer complaint, OFIR conducted an investigation and found that United Commercial Credit was not licensed under the state’s Mortgage Brokers, Lenders and Servicers Licensing Act.
To find out if a mortgage company is licensed to do business in the state, consumers can contact OFIR toll-free at 877-999-6442 or visit the agency’s website www.michigan.gov/ofir and click “Who We Regulate.”
To view OFIR’s cease and desist order, visit: http://www.michigan.gov/documents/lara/United_Commercial_Credit_-_CD_1_367640_7.pdf
For more information about LARA, please visit www.michigan.gov/lara. Follow us on Twitter www.twitter.com/michiganLARA, “Like” us on Facebook or find us on YouTube www.youtube.com/michiganLARA.
Contact:
Jason Moon 517-335-1700
Agency: Licensing and Regulatory Affairs
