Washington State Department of Financial Institutions

Consumer Alert:
Summit Alliance Group LLC

Loan Modification Scam

August 9, 2011

The Washington Department of Financial Institutions (DFI) has received complaints from Washington consumers relating to loan modification services that were to be provided by Summit Alliance Group LLC.

Consumers allege that they paid Summit Alliance Group LLC to perform loan modification services; however, services were not provided, the fee was not refunded, and the consumer’s inquiries were ignored.

Summit Alliance Group LLC is not licensed by the DFI, or registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State.

Summit Alliance Group LLC has been associated with an address location of 150 Paularino Avenue East, Suite 272, Costa Mesa, California, 92626.

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 company name.

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 Department’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 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 at www.ic3.gov.

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