To whom it may concern:
I am writing this letter in regards to the complaint and lawsuit that I am filing against Samuel Midgette and his 2 companies Atlantic Commercial Lender, llc. And 3visions commercial lending. This loan closed on the 9th of February and I have yet to get paid.
Before I go into detail regarding this I would first like to go into depth about what I have gone through as well as the customer. The customer had initially contacted me in August looking for financing on a mixed-use property in Massachusetts. Since this loan was somewhat unique, I went onto Lenderlab.com, which is used by my company in order to look for a certain lender based on the specific criteria. The borrower in this case Lyndsay Owirka, had originally agreed on a sales price with the seller who happens to be a family friend for a price of $225,000 back in September. However due to the nature of the transaction the borrower needed a seller second which means that in order for that to happen with the restrictions we needed to increase the sales price as well as the seller second to meet the bank's criteria. What we ended up doing was go with an increased loan amount and sales price since we believed the property was worth $280,000. This was in November when we decided to change the sales price and I had an amended purchase and sale agreement and changed the loan amount and application so that it met the criteria needed and the borrower went forward with the appraisal. Sam Midgette and Atlantic Commercial had a charge of $2500 for an appraisal fee to move forward with the loan. The borrower paid and the appraisal was not in until January 17th and upon completion of the appraisal Sam said that everything was fine. I believed that the value was there and a week before we were looking to close I asked Sam for a copy of the appraisal and what the value came in at and it was $225,000. I was furious that for 2 weeks they had the appraisal and all the documents knowing we had a loan amount of $224,000 and the appraised value was $55,000 less than what we were expecting. So for the next week I was working the numbers over as well as rework the purchase and sale agreement for this loan to go through. It was scheduled for a closing 4 times before we finally closed the loan. However, before the loan went to closing we had a bit of a problem. The fee agreement signed between Lyndsay Owirka and Atlantic commercial was for 1 % of the loan amount and the fee agreement between the Owirka's and myself was for $2,668.72. Sam Midgette signed off on the fee sheet I sent over to him. Another problem that had occurred was that the actual appraisal fee was $1800 not the $2500 that was charged to the borrowers. Since he couldn't change the fee on the closing Sam signed a letter on Atlantic letterhead saying that he would refund the borrower $700 that was overcharged to them. The new closing sheet had a broker fee of $4,468.72 instead of the $1800 because of my fee that was added on to the loan. This loan closed on February 9th and here I am writing this complaint on March 31st still without the $2,668 for my fee and Lyndsay Owirka is out of $700 that was promised to her as well.
We had moved the location of my office and Sam had told me that the check was in the mail and that it must have gotten lost during the move. Finally after waiting for 3 weeks I decided to call Sam and ask him to cancel the check and put a new one in the mail. With the cost of the cancelled check and to put it in the mail I told Sam to take it away from my fees. I never saw the check and finally started calling every day and being blown off every time. I wrote an email, which I will attach with this letter that explains the different lies Sam told me everyday. He told me he doesn't handle the checkbook and would have to get back with me on the information. He also told me that he would get a conference call on with his manager and myself. Both of these lies I figured out when I talked with his own co-workers and they told me that Sam was the one who held the checkbook and that Sam is the boss the president of these two companies. (Atlantic and 3Vision commercial)
I had the bank attorney the one that closed the bank and the one that has all the paperwork showing how Sam had increased the loan amount and how Sam had lied to as well. Lyndsay Owirka and I have begun a lawsuit against Sam Midgette as well as the companies that he operates. Another issue that I have with Sam Midgette and his company is that he is advertising as a lender, which he is not.in lenderlab.com he is putting on the faade that his company actually makes the loans happen and underwrite the files when in actuality he is a commercial broker and has no pull or sway with any loan.in actuality he placed a loan with a company that I could have put the loan through. It was too little too late and I just wanted to close the loan when I found out. Sam would never have the loan if it wasn't for me and after all the hard work I put into it to get the loan closed he still has the nerve to try and pull one over Ms. Owirka and myself. Since talking with someone at the Attorney Generals and knowing that Sam Midgette has some current lawsuits or complaints against him I am truthfully not surprised one bit. The level of immorality and the countless times he had hung the phone up on me left me frustrated and confused. The confused part being how this person and his company can stay in business. Let it also be known that I'm sure the rest of his staff know of his unethical practices since three people since I first started with this loan have quit. (In an office that has about 7 employees) His company should be shutdown and hopefully this compliant will shed light on the illegal business practices used by Sam Midgette. Please feel free to contact the borrower or myself regarding this matter.
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