Washington State Department of Financial Institutions

Consumer Alert:
DLD Consulting, LLC

Possibly also known as:

Loan Modification Scam

August 5, 2011

The Washington Department of Financial Institutions (DFI) has received a consumer complaint against DLD Consulting, LLC, which purported to offer loan modification services to Washington residents.

After further investigation by DFI, it has been determined that this DLD Consulting is unlicensed and apparently operating in violation of Washington state laws and rules.

Consumers report being contacted by phone in which DLD Consulting indicated that it had a special relationship with the consumers’ lender, and that they could get better modification terms (as low as 2%) for the consumers. However, the paperwork provided to the consumers discloses that DLD Consulting has no special relationship with the consumers’ lender, that DLD Consulting was not necessarily able to obtain a better loan modification than could the consumers by working with the lender directly, and that the consumers should not pay their mortgage payments. DLD Consulting also requested a post-dated check in the amount of $5,000 for their services.

DLD Consulting is associated with the following addresses: 895 Dove Street, Suite 300, Newport Beach, CA, 92660 and 18009 Skypark Circle, Suite L, Irvine, CA 92612.

DFI’s research indicates that the original company may no longer be active; however, consumers are cautioned that these types of operations are often closed under one name and re-opened using a different name. The business model tends to remain constant.

According to the Mortgage Assistance Relief Services Rule issued by the Federal Trade Commission, any entity offering mortgage relief services (foreclosure rescue, loan modification, etc.) is prohibited from collecting advance fees or from making false or misleading claims about their services. Under Washington State law, any entity offering loan modification services in Washington State must have an individual licensed by DFI as a loan originator to provide those services.

DLD Consulting is not registered with the Washington Secretary of State, the Department of Revenue, or with the Department of Licensing. The Department shows no licensing for any of the persons identified as possible employees or control persons: Darren Carriger, Luke Darling, or John McShane / McChain.

Report Violators

If you feel you have been victimized by these individuals, and you reside in Washington State, you may file a complaint with the Washington State Department of Financial Institutions by contacting the Consumer Services Division at (360) 902-8703, or by going to www.dfi.wa.gov/cs/complaint.htm to file a complaint online.

We also suggest contacting the Federal Trade Commission online at www.ftc.gov or toll-free at 1-877-FTC-HELP (1-877-382-4357).

If you realize that you have given non-public personal information, such as date of birth, Social Security number, account numbers or other similar information to a possibly fraudulent entity, you may wish to take steps to prevent identity theft. There is information on the FTC website about steps to take to prevent identity theft, and what to do to protect yourself in the event you are the victim of identity theft.

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