After contacting the company, Jeff Kaye was our point of contact. He was diligent about getting back to us right away during the loan process. Then, he sent us a commitment letter and a price quote. He was persistent about getting us to sign the commitment letter and to send $4K check to do a valuation, EPA report.
Once he received our money, the responses for updates started getting delayed. First, he wanted to make sure our check cleared. Then, he was out of town, after that - busy in meetings, on the road, not at office. We wanted to know if the inspections were done for the report. He said that they did a valuation based on a "drive by" for a 16 unit building. We were expecting a more intensive inspection of the property for $4K.
We waited a while and finally we received an email from him saying we were declined because of low valuation. We then asked for a copy of the report. He promised he would send us the report. We asked when, and he kept putting us off. He said "it will come, when it comes". He was too busy doing other loan deals (heaven forbid) and we were not a priority. To date, we have not received any reports, just his email declining our loan. We had asked if he had a copy of the report he and his managers based their decision on, no response to that.
His arrogant approach to business is very unprofessional and his actions contradict their website advertisement, "Alston Ferris Capital Partners, LLC strives to build long-term relationships with Mortgage Brokers, Bankers, and other professionals who seek fast non-conforming loans for their clients. We are steadfast in our effort to provide outstanding service to our brokers and realize that Brokers are a very important link in the Commercial Lending market".
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