Mortgages, Credit Card, Loans, Sale of Check, & Consumer Finance Databases Now Available

(LANSING, MI) - The Michigan Office of Financial and Insurance Services (OFIS) has added lists and look up features for mortgage, credit card, personal loan, and sale of check issuers. The information can be found at www.michigan.gov under Licensing, Certification and Permits for Business and Industry; at the OFIS web site www.michigan.gov/ofis under Who We Regulate; or by calling OFIS toll free at (877) 999-6442.

"The simple step of making sure that your mortgage company is licensed with the state of Michigan can provide important consumer protections," said Financial and Insurance Services Commissioner Frank M. Fitzgerald. "These OFIS lists and look ups allow consumers the opportunity to quickly and easily check on a number of different licenses."

Financial institutions that have depository insurance, such as banks insured with the Federal Depository Insurance Corporation (FDIC), do not need additional licensures for the activities listed above and will not appear on the OFIS lists and look ups. For information on banks, credit unions, insurance companies, and securities entities, more information is available by referencing the Who We Regulate and Links section of the OFIS web page or by calling OFIS toll free at (877) 999-6442. If an entity cannot be located via the OFIS lists and look ups, contact OFIS.

The lists and look ups are as follows:

• Mortgage Licensees/Registrants Locator - This interactive database allows users to look up licensing information for entities offering to broker, lend, and/or service a mortgage in Michigan. Looking up a company can be done through a number of criteria, including name and address. Direct link: www.cis.state.mi.us/fis/ind_srch/mortgage/
  mortgage_industry_criteria.asp.
• Credit Card Licensees - This list contains licensees that issue credit cards in Michigan. Direct link: www.cis.state.mi.us/fis/ind_srch/crd_card/
  credit_card_list.asp.
• Regulatory Loan Licensees Locator - This interactive database allows users to look up licensing information for entities offering personal loans not secured by real estate. Looking up a company can be done through a number of criteria, including name and address. Direct link: www.cis.state.mi.us/fis/ind_srch/reg_loan/
  regulatory_loan_criteria.asp.
• Sale of Check Licensees - This list allows the user to review license information on entities engaged in the selling and issuing of checks, travelers checks, drafts and money orders in Michigan. Direct link: www.cis.state.mi.us/fis/ind_srch/sal_chk/
  sale_of_checks_list.asp.
• Consumer Financial Service Licensees (Omnibus) Locator - This interactive database allows users to look up licensing information for entities offering multiple financial service activities in Michigan. For instance, if an entity needs licensure for credit card and mortgage activities, that entity could receive a Consumer Financial Service License. Looking up a company can be done through a number of criteria, including name and address. Direct link: www.cis.state.mi.us/fis/ind_srch/con_fin/
  consumer_finance_criteria.asp.
• New information: Michigan Active Banks Database is now available at http://www.cis.state.mi.us/fis/ind_srch/cht_bank/
  state_charter_bank_criteria.asp for state chartered banks and http://www.cis.state.mi.us/fis/ind_srch/sav_bank/
  state_savings_bank_list.asp for state chartered savings banks.

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The Michigan Office of Financial and Insurance Services (OFIS) is responsible for the regulation of Blue Cross Blue Shield, 29 HMOs, 145 banks, 175 domestic insurance companies, 291 credit unions, 1,300 foreign insurance companies, 1,583 investment advisers, 2,164 securities broker-dealers, 6,000 consumer finance lenders, 89,000 insurance agents, and 120,715 securities agents. OFIS is part of the Department of Consumer and Industry Services and is primarily fee-funded, requiring minimal public tax dollars for its regulatory and consumer assistance activities. OFIS has insurance, financial institutions and securities information available on the web at www.michigan.gov/ofis.

If you would like to receive OFIS press releases electronically, please e-mail ofis-info@michigan.gov.