OFIR Shuts Down Bogus Grand Rapids, Lansing Mortgage Companies

February 29, 2012
Media Contact: Jason Moon 517-335-1700
Consumer Hotline: 877-999-6442
http://twitter.com/miofir

LANSING - The Office of Financial and Insurance Regulation (OFIR) has shut down operations claiming to be a Grand Rapids mortgage company named "Berkline Financial Group" and a Lansing mortgage company named "GreenPoint Capital" by ordering them to cease and desist from doing business.

OFIR believes that the bogus companies, through their websites, www.berklinefinancialgroup.com and www.greenpointcapital.org were posing as legitimate mortgage and lending companies in an attempt to steal consumers' money and identities. The fraudulent companies were encouraging customers to apply for loans by providing personal information including social security and financial account numbers.

"OFIR will remain vigilant in shutting down these advance fee scams," OFIR Commissioner Kevin Clinton said. "If consumers think they may have uncovered a fraudulent financial company, they should call us immediately."

If Michigan consumers think they may have uncovered or become a victim of a fraudulent financial institution, they should call OFIR's toll-free consumer hotline 877-999-6442.

Consumers whose personal information may have been compromised by a bogus financial institution should visit the Federal Trade Commission's one-stop national resource to learn about the crime of identity theft. It provides detailed information to help you deter, detect, and defend against identity theft. www.ftc.gov/bcp/edu/microsites/idtheft/

OFIR contacted the website hosts for Berkline and GreenPoint and the sites have been shut down.

Following reports from the Better Business Bureau, OFIR conducted an investigation and found that both Berkline and GreenPoint were 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 at 877-999-6442 or visit the agency's website: www.michigan.gov/ofir. 

To view OFIR's cease and desist orders, visit:
http://www.michigan.gov/documents/lara/Berkline_Financial_Group_-_C__D_MR_377618_7.pdf
http://www.michigan.gov/documents/lara/GreenPoint_Capital_-_C__D_MR_377617_7.pdf