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Originally posted by bfleming68

Anyone here have advise on who to use and not to use. I had a file with Commercial Lending Capital...NEVER GIVE THEM YOUR FILE! They called my customer and told him to cut us out to save money...
75%-70% purchase, investor, mixed use,

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Originally posted by Deushe

Wish I knew you before you submitted the deal. I would told you that they broker deals.

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Originally posted by bfleming68

Now after we send you all communication from the borrower, seller, broker and this Nicole...we can really clear this up right? I will personally make sure the facts of this entire transaction are clear to everyone. Do I need to post emails from all parties from date to date to ensure this? Let me know. I have all communication from us, borrower, Nichole, submission, threats, degrading remarks because our customer would not send deposit in three hours after sending term sheet. Nicole can provoke anyone to defend themselves..she is a total low life with a mouth like a biker chick! I will copy and paste every email here for all of us to have a few.

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Originally posted by brad.easter

After reviewing copies of 25 emails from the broker and from our server (which we have to archive by law), my position has not changed. The client got shafted by an inexperienced, greedy, foul mouthed broker that preyed on a client that trusted her through a church affiliation. The client didn't have funds to close and never did.

The situation could have been avoided with better communication from our company, but I was cut-out by the broker and was not aware of the situation until the OP slammed my company.

This situation is resolved. The client does not owe CLC anything and we NEVER collected any fees for the 20+ man-hours of work on this file.

We will ALWAYS do what is right for the client, ALWAYS!

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Originally posted by U812

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Originally posted by brad.easter

After reviewing copies of 25 emails from the broker and from our server (which we have to archive by law), my position has not changed. The client got shafted by an inexperienced, greedy, foul mouthed broker that preyed on a client that trusted her through a church affiliation. The client didn't have funds to close and never did.

The situation could have been avoided with better communication from our company, but I was cut-out by the broker and was not aware of the situation until the OP slammed my company.

This situation is resolved. The client does not owe CLC anything and we NEVER collected any fees for the 20+ man-hours of work on this file.

We will ALWAYS do what is right for the client, ALWAYS!

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I'm amazed that a professional lender that specializes in Commercial Mortgages / Transactions did 20+ hours worth of work on a file before finding out that the borrower didn't have the funds needed to close.

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Originally posted by brad.easter

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Originally posted by Deushe

Wish I knew you before you submitted the deal. I would told you that they broker deals.

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Commercial Lending Capital, Inc. is a direct commercail real estate lender. All loan documents and funding occurs in the name of the company. Loan decisions are made in the corporate office with no requirements to go outside for approvals.

People that can not back-up their claims hide behind moronic and tasteless screen names.

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Originally posted by brad.easter

Here is the information from my perspective. Many of you have become familiar with me from the many posts I have made to this forum. I don’t blow smoke and I won’t tell you what you want to hear. I’ll tell you the truth!

The broker on this deal, whose real name is not Bruce Flemming contacted me on July 10 regarding a mixed-use commercial purchase transaction. The sale price was to be $3.95MM. The seller was "gifting" equity of $1.45MM and the loan amount was to be $2.5MM. I informed “her” that this was not an acceptable structure for a commercial real estate loan. The borrower must have a minimum of 10% investment and in today’s credit market the number would be closer to 20%.

We had a few phone conversations regarding the transaction and how it could be structured. I even suggested looking at SBA. We emailed back and forth and then no response to my inquiries about the status of the submission. At this same time she went to our website and posted a quick scenario and was assigned an AE that had no idea of the previous conversations I had with this woman.

She went around me, and submitted directly to the corporate office. Let me state that again…she went around me and submitted the deal direct to an internal, unseasoned AE. The very thing she accuses my company of doing to her, she did to me! The deal was approved based upon the submitted information.

Here’s where it gets interesting. This is the information I received from our operations department.

"This woman held a signed term sheet hostage until we agreed to sign her fee agreement, which we would not. (She wanted CLC to agree to compensate her even if the loan did not fund!) The borrower called our offices several times asking why we had not proceeded. When we advised, he contacted the seller. Come to find out, the broker had landed another offer at a higher rate paying 1 more point AFTER the client executed our term sheet. So all of a sudden seller and broker were gunning against CLC and trying to convince the borrower not to proceed with us so they could make another 25K. So I talked to the borrower, explained we had a signed contract and what that meant to him. When the broker found out the borrower was going to proceed anyways, she sent me an email telling me to, (and I quote) go f*#k myself and to kiss her ***."

"Once broker realized I would not allow her to be party to this deal, she tried to back-track, and I refused to let her be a party. That’s the moral. I told her if she continued to berate our employees that I would file charges for harassment. Make sense? No one wants to be spoken to that way, and frankly I can’t let employees of CLC be spoken to that way. I also told her I was filing a complaint with the DRE for her conduct. I have no idea who Bruce Flemming is, as I’ve never spoken with him in my life."

So please understand that CLC did not go around the broker. The borrower called our offices asking why we were not going ahead with the deal. The broker shopped for another deal, at a higher rate to double the commission on a cash strapped borrower. Turns out the client didn’t have the funds to close the deal anyway. So everyone involved lost out. The seller now has had his property off the market for several weeks. The borrower was misled by an inept residential broker trying to play in the commercial world. I lost the time I spent time trying to educate this person about how the deal could be done when I could have been sourcing other loans. The internal guy in our office lost-out on a deal after he was lied to by this broker telling him that she didn’t have a CLC contact.

No, bflemming68, you didn’t lose money because of Commercial Lending Capital. You lost money because you were dishonest and got caught.

ALWAYS, do what is right for the client. ALWAYS!

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Originally posted by bfleming68

They continue to email my client with threats of charging him a 3% cancellation fee with a 2.5MM loan amount!

message dated 08/19/08 12:15:46 Pacific Daylight Time, nicole.ferguson@clcnationwide.com writes:
Let’s all take a step back, simplify this a bit, and get back to the basics.  CLC is in a position to enforce the contract, and the borrower walks away with nothing more than a 3% cancellation fee.  No one wins here, because then we all get tied up in Arbitration for 6 months, the property doesn’t get sold and the borrower is ultimately the one that loses.  Hardly seems logical.
 
Or perhaps Mr. Schroeder can pay Mary a ‘finders fee’, (seeing as she did nothing more than attempt to place the loan and then burned bridges) and then finds new representation. 
 
Please let me know if this sounds suitable.  As you will notice, I have not cc’d all other 3rd parties on this email intentionally.  If a time tomorrow sounds suitable, please advise ASAP.
 
Regards,
 
Nicole Ferguson

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Originally posted by johnnyboy38109

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Originally posted by brad.easter

Here is the information from my perspective. Many of you have become familiar with me from the many posts I have made to this forum. I don’t blow smoke and I won’t tell you what you want to hear. I’ll tell you the truth!

The broker on this deal, whose real name is not Bruce Flemming contacted me on July 10 regarding a mixed-use commercial purchase transaction. The sale price was to be $3.95MM. The seller was "gifting" equity of $1.45MM and the loan amount was to be $2.5MM. I informed “her” that this was not an acceptable structure for a commercial real estate loan. The borrower must have a minimum of 10% investment and in today’s credit market the number would be closer to 20%.

We had a few phone conversations regarding the transaction and how it could be structured. I even suggested looking at SBA. We emailed back and forth and then no response to my inquiries about the status of the submission. At this same time she went to our website and posted a quick scenario and was assigned an AE that had no idea of the previous conversations I had with this woman.

She went around me, and submitted directly to the corporate office. Let me state that again…she went around me and submitted the deal direct to an internal, unseasoned AE. The very thing she accuses my company of doing to her, she did to me! The deal was approved based upon the submitted information.

Here’s where it gets interesting. This is the information I received from our operations department.

"This woman held a signed term sheet hostage until we agreed to sign her fee agreement, which we would not. (She wanted CLC to agree to compensate her even if the loan did not fund!) The borrower called our offices several times asking why we had not proceeded. When we advised, he contacted the seller. Come to find out, the broker had landed another offer at a higher rate paying 1 more point AFTER the client executed our term sheet. So all of a sudden seller and broker were gunning against CLC and trying to convince the borrower not to proceed with us so they could make another 25K. So I talked to the borrower, explained we had a signed contract and what that meant to him. When the broker found out the borrower was going to proceed anyways, she sent me an email telling me to, (and I quote) go f*#k myself and to kiss her ***."

"Once broker realized I would not allow her to be party to this deal, she tried to back-track, and I refused to let her be a party. That’s the moral. I told her if she continued to berate our employees that I would file charges for harassment. Make sense? No one wants to be spoken to that way, and frankly I can’t let employees of CLC be spoken to that way. I also told her I was filing a complaint with the DRE for her conduct. I have no idea who Bruce Flemming is, as I’ve never spoken with him in my life."

So please understand that CLC did not go around the broker. The borrower called our offices asking why we were not going ahead with the deal. The broker shopped for another deal, at a higher rate to double the commission on a cash strapped borrower. Turns out the client didn’t have the funds to close the deal anyway. So everyone involved lost out. The seller now has had his property off the market for several weeks. The borrower was misled by an inept residential broker trying to play in the commercial world. I lost the time I spent time trying to educate this person about how the deal could be done when I could have been sourcing other loans. The internal guy in our office lost-out on a deal after he was lied to by this broker telling him that she didn’t have a CLC contact.

No, bflemming68, you didn’t lose money because of Commercial Lending Capital. You lost money because you were dishonest and got caught.

ALWAYS, do what is right for the client. ALWAYS!

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I dont know what mileage you think you're getting out of saying it was submitted to an "internal, unseasoned AE", either..................so you staff your offices with unqualified personnel to address scenario questions?

I have to say......you are really flippant with your responses and your delivery is not cdonfidence-inspiring.

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