| Author |
 | Next Topic |
|
Matt@VanderbiltF
1 Posts |
 Posted - 07/09/2009 : 5:37:21 PM
|
THEY DO NOT HAVE THE ABILITY TO FUND LOANS AND ARE IN BUSINESS TO STEAL YOUR HARD EARNED REFERRALS!!!!
BEWARE OF THESE COMPLETELY UNETHICAL SCUMBAGS. ......
Do not use or broker deals to Real Estate Capital Company out of Charlotte, NC. I work for a commercial financing company out of Boston, MA. I get numerous commercial deals and am constantly looking for companies and groups willing to lend on deals from $5m - $100m. An important part of this business is being able to trust the lenders that we send deals. Trust is imperative since the lenders look at and evaluate extremely sensitive financial information that we send them.
After sending two complete packages of deals to this company. Real Estate Capital Company got back in touch with me and said they can offer financing, but the rate would be 11% with 5pts upfront. Needless to say my clients were not very happy about the terms presented so I naturally continued to search for better terms. Three days later I got a call from my borrower and he asked me who the hell is Real Estate Capital Company because they just called him and tried to offer him financing - without even notifying me. The odd thing is that I never even gave the lender my clients number, they found it by searching my clients management companies website.
The lender went behind my back with the sole intention of taking my client. In the broker world this is a complete breach of conduct and is only practiced by the worst type of scumbags. If you have the unfortunate situation of trying to get a deal financed through this company make certain that you do not give them any information whatsoever about your client or your clients company because they will try and steal your business. There are much better companies to work with and as a broker we have enough worries and hassles each and every day than worrying about whether or not we can trust the lenders we send deals to.
|
|
|
|
shakeytime
73 Posts |
Posted - 07/14/2009 : 6:10:39 PM
|
| Those are some heavy words you are using....be careful when you post stuff like this....you may just end up with a lawsuit. |
|
|
HSalzer
6 Posts |
Posted - 07/15/2009 : 09:08:49 AM
|
| Wow those are some pretty scary charges |
|
|
jpirhalla
1 Posts |
Posted - 08/11/2009 : 8:30:32 PM
|
Hello Matt,
I just read your posting about our company (someone actually brought it to my attention). We are a conventional commercial lender with published rate sheets - and we are a unit of a federally chartered bank which means we are regulated. Our loan programs carry interest rates well below 8% and we offer rebate on loans. We only charge a lender fee on HUD and FNMA loans (max 1 pt). Further, we do not lend to borrowers directly as we are a wholesale lender. Lastly, we do not call borrowers directly - ever. Your assertion is blatantly false.
Respectfully,
Jeffrey Pirhalla
Managing Director
Real Estate Capital Company |
|
|
shakeytime
73 Posts |
Posted - 08/12/2009 : 08:00:50 AM
|
| Now Matt, what did I tell you. If I was you I would refine your comments ASAP. You are definitely on the libel and slanderous path. If what the poster said is true they may have the heavy guns (lawyers) to jack you up for it as well. This goes for others as well, you never know what might come at you. |
|
|
velecico
5309 Posts |
Posted - 08/12/2009 : 5:25:17 PM
|
Shakey ,
Stick to appraisals not practicing law , this is blog for mortgage professionals , he can say whatever he wants |
|
|
shakeytime
73 Posts |
Posted - 08/14/2009 : 10:10:26 AM
|
| You sure can say what you want...and that's what I did. |
|
|
jetops
224 Posts |
Posted - 08/22/2009 : 8:46:16 PM
|
hey shakey james or who ever you are .
there does not seem to be anybody with the last time of james in Florida that listed as appraiser MAI . can you explain? if you were a broker or work for a lender there does not seem to be any corresponding record for being licensed in Florida. I going to give you some reading material so you know more about a subject before you open you big mouth and insert foot.
http://www.firstamendmentcenter.org/speech/internet/topic.aspx?topic=online_libel
http://www.firstamendmentcenter.org/speech/internet/topic.aspx?topic=blogging2
point two by managing director responding to this complaint it proves that that matt did deal with this company and a very good possibly they were co-originate (co broker )the loan or packaging matt loan into cmbs package sell it
here some info off there website.
#10) Liquidity: We can co-originate a single loan or buy an entire portfolio. A good strategy may be to refinance customers with an upcoming loan term and lower their rate or sell loans to RECC where the customer no longer has a deposit relationship with your bank. Why allow non-deposit borrowers to use valuable liquidity that could better be used for your current deposit customers?
#9) No Lender Liability: Loans funded with RECC never hit your balance sheet and, therefore, you have no contingent liability and you can eliminate the future liability for potentially delinquent or non-performing loans.
#3) Loans Outside your CRA: Our program allows you originate a loan in all 50 states, including AK and HI. Many times good bank customers can own property in other states. Do you want a competing bank to originate a loan outside your footprint and take your customers' deposits with them?
|
|
|
shizah
564 Posts |
Posted - 08/26/2009 : 6:24:47 PM
|
| wow!!! exciting thread... |
|
|
shakeytime
73 Posts |
Posted - 09/03/2009 : 6:30:53 PM
|
| ok jetops you win....you are a master debater. |
|
|
alexstjohn
26 Posts |
Posted - 10/02/2009 : 2:34:05 PM
|
| I happen to know Jeff Pirhalla and have for some time now. Jeff is a true "stand-up" guy. I have known Jeff over many years and companies and know that he shoots straight. I don't know who did what, but I would take this man at his word. |
|
|
lost_in_town
169 Posts |
Posted - 11/20/2009 : 10:12:19 AM
|
quote:
Originally posted by alexstjohn
I happen to know Jeff Pirhalla and have for some time now. Jeff is a true "stand-up" guy. I have known Jeff over many years and companies and know that he shoots straight. I don't know who did what, but I would take this man at his word.
John
have you closed any deals with him?
thank you. |
|
|
| |
| Next Topic |
|
Search for: 
