I met this organization thru a Broker firm in Orlando, FL named Oakwood Mortgage Corp to refinance of a commercial loan. CLC requested many documents, papers, and phone calls interviews, and after months of documents and back and forth they asked for $8120.00 deposit for appraisal fee and other fees. The balance not utilized was supposed to be applied to the loan payoff or refunded back to me. Once they received the deposit, they came up with some sort of calculations and the loan was not approved. They spent $1500.00 on an appraisal and still manage to keep the remaining balance of $6545.00 as Processing and Underwritting fees. They did not Underwrote any loans and they are not supposed to charge anything if the loan is not approved. They are to get paid on the closing of the loan. I highly suspect that Oakwood Mortgage Corp and their agents Raberta Prince and Michael Schmidland got paid a kick back fee in the back door for refering me to them. They denied but our legal counsel disagrees. I have reported both of these organizations to the State of FL and CA to several agencies to investigate their mortgage handling behavior. I do not recomend anyone to do any kind of business with any of these organizations.
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