Washington State Department of Financial Institutions

Consumer Alert:
National Housing Modification Center

November 7, 2011

The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lending professional with which they are considering doing business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on the DFI’s website at www.dfi.wa.gov

Not Licensed to Provide Loan Modifications

National Housing Modification Center, possibly doing business as Elucidation Loan Modification, is a company located in Irvine, California. National Housing Modification Center was offering to provide loan modification services to consumers for an up-front fee. It appears that this entity is an unlicensed loan modification company.

Washington State law requires all individuals and companies providing third-party loan modification services to Washington residents be licensed by DFI. Additionally, the Federal Trade Commission’s Mortgage Assistance Relief Services (MARS) Rule prohibits entities from requiring upfront fees prior to performing loan modification services.

National Housing Modification Center does not appear to be registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State.

National Housing Modification Center is using an address of:
2555 Main St. Suite #2037
Irvine, CA 92614

DFI's research has been unable to verify they are at this address.

Protect Yourself

Because consumers may have given employees of National Housing Modification Center non-public personal information, such as bank account information and social security numbers, victims may wish to consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on the DFI’s website at www.dfi.wa.gov.

Report Violators

If you are suspicious of unlicensed activity by a mortgage broker or loan originator, please contact DFI 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 at www.ic3.gov.

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