Washington State Department of Financial Institutions

Consumer Alert:
Loan Modification Scam

December 22, 2011

The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lender with which they consider doing business.

Scam artists have been using the name the Law Office of Matthew T. Desrochers, P.C. as part of an apparent loan modification scam. While the Law Office of Matthew T. Desrochers is a legitimate company, the scam artists are not related to the company and list a toll free number not used by the company.

The scam artists provide the following toll-free number: (888) 988-5181. The scammers have mailed unsolicited advertising fliers to Washington residents. The advertisements claim that the recipient may qualify for a mortgage modification and that they are a federally authorized debt relief law firm.

The Department strongly recommends that consumers deal only with those loan modification providers and attorneys that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on the Department’s website at www.dfi.wa.gov/cs/list.htm. Consumers can check the status of an attorney by checking the website of the Washington State Bar Association at www.wsba.org.

Report Violators

If you are suspicious of unlicensed activity by a lender please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357), or online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

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