Paisa Financial, a member of Fit Financial Group Inc., is fraudulently using the Nationwide Mortgage Licensing System (NMLS) number 76988, which belongs to DBO-licensee Bay Equity LLC
The Department of Business Oversight (DBO) has been notified that an entity known as “Paisa Financial” is mailing loan solicitation letters to members of the public, and fraudulently using the NMLS number 76988. This NMLS number belongs to licensed mortgage lender Bay Equity LLC. These fraudulent letters are from “Paisa Financial, a member of Fit Financial Group Inc.” The signature line lists the business address as 871 E. Hamilton Ave #F, Campbell, CA. Contact information includes a phone number (408-359-7152) and email address (firstname.lastname@example.org). Letters are signed by “Enrique Herrera” claiming to be a “Branch Office Senior Coordinator”. None of these entities hold a license with DBO to offer or sell loans.
The DBO urges consumers to exercise extreme caution before responding to any solicitation offering financial services. 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.
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