The Office of Financial and Insurance Regulation Shuts Down Fake Mortgage Lender

Allison Tussey —  March 30, 2009 — 1 Comment

Capita Management Group“, Southfield, Michigan, an entity claiming to be a mortgage company, has been ordered to cease and desist from doing business.

The Office of Financial and Insurance Regulation (OFIR) believes that Capita, through its website,  www.capitamanagementgroup.com, is posing as a legitimate mortgage company in an attempt to steal consumers’ money and identity. The fraudulent company is encouraging customers to apply for loans by providing personal information including social security and financial account numbers.

“OFIR will continue to make it our business to put these fake companies out of business,” OFIR Commissioner Ken Ross said. “Michigan consumers need to be on the lookout for these classic advance loans scams, where they are lured into paying upfront fees for services they never get in return.”

OFIR found that Capita 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.” OFIR has contacted Godaddy.com, the Capita website host, and asked that the website be shut down.

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Allison Tussey

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One response to The Office of Financial and Insurance Regulation Shuts Down Fake Mortgage Lender

  1. How do i press charges on this company?

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