I inherited a deal from one of my junior associates at my firm that was working with these people. What scam artists they are and they are good. These people scammed these clients of mine out of over $10,000. I have been at this for the past two weeks and come to this site to find what I already known that they are scammers. These people are shameless and indecent to do this to small time investors and small business owners. They told us after we sent them the money 3 months later that the deal did not cash flow and we are declined. I been doing this along time unlike my former associate. I come to find out that they issued a pre-approval took the clients money and did not even assess the clients financials before they issued a pre-approval. How does that work??? They intead put in their pre-approval letter that the loan is approved if the debt service is good enough. No lender in the country would do things this way and purposely not ask for the financials upfront, then take the money then ask for the financials after they have the money then tell you that you do not qualify. Why not ask for the financials upfront and give me a real quote??? I know the real reason now!!! Because you would not be able to take my clients money so you can use it to stay afloat right!!!
A message to all brokers and clients out there... Stay away they are only brokers that want your advance fee money.
Its not over you may have won the battle but not the war. We are going to the CA Department of RE to file a complaint. You will be brought to justice for misrepresenting yourself as lenders and taking clients money with no chance of funding.
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