Lending 3, Inc. and Matthew Kidd - Mortgage Loan Company Not Licensed in Washington

Alert number: Lending_3_Inc_and_Matthew_Kidd_CA057087_07/24

The State of Washington Department of Financial Institutions (DFI) received a complaint from a Washington consumer against Lending 3, Inc. and Matthew Kidd. The consumer reported that an individual named Matthew Kidd who represented he was a Mortgage Loan Coordinator from Lending 3 contacted a Washington consumer and provided an estimate for a reverse mortgage loan.

The individual used email address [[email protected]], physical address 17220 Newhope Street #213, Fountain Valley, CA 92708, phone number (949) 966-2012, and fax number (714) 783-3311.

Lending 3, Inc. is a legitimate business, but it is not licensed by the DFI and is not registered to conduct business in Washington state by the Department of Licensing, the Department of Revenue, or the Secretary of State. Lending 3, Inc. represented to the DFI that have never employed a Matthew Kidd. Matthew Kidd also is not licensed by the DFI as a mortgage loan originator.

DFI warns Washington consumers that before doing business with a financial services provider the consumer should:

Make sure that the entity is lawfully entitled to conduct business in the state of Washington. Consumers can use the "Verify a License" feature on DFI's website at www.dfi.wa.gov to check whether a consumer loan company is licensed to conduct business in the state of Washington.

Not provide any personal information, such as social security number or bank account number or access if the company is not licensed or authorized to conduct business.

Important Information for Washington Consumers About Unlicensed Lenders

Washington State residents are informed that Washington state law provides in RCW 31.04.035 that any non-third-party fees charged in connection with the origination of a residential mortgage loan by an unlicensed lender (which is not otherwise exempt from licensure) must be refunded (excluding interest charges).

Washington residents only: If you suspect unlicensed activity by a payday lender or consumer loan company, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. Even if the activity involves a loan you obtained over the internet, a license is generally still required. If a collection agency is attempting to collect a debt from you, check that the company is licensed by the Washington State Department of Licensing.

Important Information for All Customers

If you received a loan from a lender and someone else is now attempting to collect the loan, the collection activity may be subject to the federal Fair Debt Collection Practices Act (FDCPA). If you are contacted by a third party claiming you owe a debt, you can request a "written validation notice," which must provide the amount of the debt, the name of the creditor you owe, and your rights under the FDCPA. If you have questions regarding federal debt collection laws you can contact the Federal Trade Commission (FTC) at 1-877-382-4357 or online at www.ftc.gov.

If you feel you have been the victim of a scam you can contact the FTC at 1-877-382-4357 or online at www.ftc.gov; or the Consumer Financial Protection Bureau (CFPB) at 1-855-411-2372 or online at www.consumerfinance.gov.

If the scammers already have your bank account information, social security number, or other personal information, you may be a victim of identity theft. You can contact your bank and the three major credit bureaus to take appropriate precautions. The FTC has information for victims of identity theft online at www.ftc.gov.

If you feel you have been the victim of a scam involving the internet you can contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a financial scam and are concerned about your personal financial information, you can contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC's website at www.ftc.gov.

If you live in another state, find the regulator in your home state.

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