Real Estate Services
Free Mortgage Modification Counseling LLCFind BBB Accredited Businesses in Real Estate Services.
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Government Actions
State of Washington vs Free Mortgage Modification Counseling LLC
Respondent Free Mortgage Modification Counseling, LLC (Respondent FMMC), has never been licensed by the Department of Financial Institutions of the State of Washington (Department) to conduct business as a mortgage broker. Respondent FMCC, its representatives, or third parties acting on its behalf, are all hereinafter referred to as Respondent FMCC. Respondent FMCC paid third parties to perform residential mortgage loan modification services and to hold themselves out as being able to perform residential mortgage loan modification services on behalf of FMMC.
Between September of 2020 and at least as recent as April of 2022, Respondents offered residential mortgage loan modification services to Washington consumers related to real property located in Washington State. Respondents entered into a relationship with at least 10 Washington consumers to provide those services.
Advertising. Between at least March 8, 2022, and October 12, 2022, Respondent FMCC advertised, marketed, or offered to provide, residential mortgage loan modification services on the internet, including through the use of the website freemmc.com. Despite Respondent FMCC’s name representing that their services were “free,” and Respondent FMCC’s website representing their services were “free and easy” and that they offered a “free case analysis,” Respondent FMCC asked for or received payment from Washington consumers.
Collected Advanced Fees. Respondent FMCC asked for or received payment for residential mortgage loan modification services from at least 10 Washington consumers prior to the consumers executing written agreements with their mortgage servicer that incorporate the offer of mortgage assistance relief Respondent FMCC obtained, if at all, from the consumer’s mortgage servicer. A list of Washington consumers with whom Respondents conducted business as a mortgage broker or loan originator, and the amount collected from each as an advance fee is appended hereto as Appendix A and incorporated herein by reference. The Washington consumers paid Respondents at least $23,690 in advance fees for providing or offering to provide residential mortgage loan modification services.
What does this Consent Order require?
• Must pay a fine of $60,000, with monthly payments of $1,000 beginning August 1, 2023. $50,000 of this fine is stayed (doesn’t have to be paid) until June 30, 2026, as long as Respondents comply with the order. The remaining fine goes away on that date if Respondents have complied.
• Must pay an investigation fee of $2,460 (investigation fees cover the cost of DFI staff time working on the investigation).
• Must refund $17,530 to 10 members of the public.
• Respondents aren’t allowed to participate in mortgage broker or consumer loan activity in Washington until June 30, 2028.
• Respondents must cease and desist from engaging in conduct that violates the Mortgage Broker Practices Act of Washington.
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