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Mortgage companies made bogus license claim online

February 16, 2005

The Division of Finance and Corporate Securities warns consumers against doing business with three unlicensed entities that have claimed to be licensed on their Web sites.

Anyone who has contacted or been contacted by either Cambridge Financials or Financial Advisors regarding a mortgage loan is warned by the Division of Finance and Corporate Securities that the companies are not and have never been licensed by the Division in Oregon.

These companies asserted on their web sites that they were licensed and listed a license number; however, the license number listed is actually the license number of a third company, unrelated to Cambridge Financials and Financial Advisors.

Similarly, anyone who has contacted or been contacted by Trafalger Group regarding a mortgage or consumer loan is warned by the Division of Finance and Corporate Securities that the company is not and has never been licensed by the Division in Oregon. The company erroneously asserted on its web site that the Division of Finance and Corporate Securities licensed it as a consumer finance company.

Anyone who has contacted or been contacted by any of these companies regarding a mortgage or consumer loan should contact the Division of Finance and Corporate Securities, (503) 378-4140, and ask to speak to Kirsten Anderson.

Consumers can check to see if the mortgage company they wish to use is licensed: http://www.cbs.state.or.us/external/imd/database/lear/search_main.htm.

Consumers can check to see if the consumer loan company they wish to use is licensed: http://dfcs.oregon.gov/cf/cfdatabase/search_main.htm.