We hired this organization to refinance a commercial loan. They are a 'Broker Firm" that seeks lenders. They had a lender "interested in the loan" from CA named Commercial Lending Capital Inc. Out of Riverside CA. After months of papers and information requests, finally they asked me for a deposit of about $8120.00 to cover appraisal and the remaining balance should have been refunded or applied to the balance on the closing date. After about 8 months of back and forth, they deny the loan, they spent $1500.00 on an appraisal, and they kept the rest of the money as "Processing and Underwritting fees". They in fact did not underwrote anything or any loan. I highly suspect that Oakwood Mortgage got paid in the back door a kickback fee that they describe as Processing fee. Oakwood Mortgage people are denying it but legal counsel disagree with them. They both refuse to refund what I have calculated balance of about $6545.00. I have reported both of these organization to the State of FL and CA to the pertinent authorities for investigation of their mortgage activities. I do not recomend anyone to do any business with neither of these organizations.
0 comments