I employed Mr. Tuaty to work for me to find a mortgage so that I could buy a condo in south Florida. He made application with Century Bank, located in Tampa, FL. After the application was filed, Century Bank denied this application. Mr. Tuaty then told me the only option was with a sub-prime lender, Accredited Home Lenders. So, I took him for his word and closed on this condo with the mortgage provided by Accredited Home Lenders.
After the closing, I had an intuition that something was not right, so I did some research. I contacted Century Bank to get the specifics of the denial to the loan application which Mr. Tuaty filed for me. They told me that the application was denied for credit history issues... But... They then told me that a counter-offer was presented back to Mr. Tuaty.
I was never told by Mr. Tuaty of the counter-offer. It had terms which were better than the terms of the loan I actually closed on with Accredited Home Lenders. With that sub-prime lender, Mr. Tuaty made more of a commission due to what is called a "yield spread". So, Mr. Tuaty duped me into a mortgage that gained him more money, and cost me thousands more than what I should have spent.
My suggestion... If you hear the name "Tuaty" when you are doing a real estate venture... Run as fast as you can away.
If you do a search here on usacomplaints.com you will see that Mr. Tuaty has duped another person as well.
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