“Michael S. Foraker” and “Funding Zone LLC” fraudulently using Texas resident Micheal Foraker’s identity and offering loans (06/29/2018)
The Department of Business Oversight (DBO) has been notified of entities fraudulently claiming to be “Michael S. Foraker” and offering loans through “Funding Zone Illinois LLC” or “Funding Zone LLC” at the website fundingzoneil.com. The imposters use the email address Michael.S.Forakerloans@outlook.com, and will claim to be the actual Micheal Foraker by providing an image of his Texas driver’s license. The fraudulent paperwork provided contains the language “Solicitor & Advocates, Real Estate & Financial Consultants … Government accredited licensed company, under the data protection act of America.” These entities are not licensed to conduct lending activity in California, and might exist out of the United States.
An actual licensed Mortgage Loan Originator (MLO) named Micheal Shawn Foraker (note the licensed MLO spells his name “Micheal” instead of “Michael”) exists in Texas, with Nationwide Mortgage Licensing System (NMLS) number 1622165. He is not licensed to conduct MLO activity in California.
The DBO urges consumers to exercise extreme caution before responding to any solicitation promoting loans or other offers. To check whether a financial service provider is licensed in California, or to file a complaint, consumers should go to the DBO website at www.dbo.ca.gov or call 1-866-275-2677.