• Report: #774504

Complaint Review: Commercial Lending Corporation

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  • Submitted: Thu, September 08, 2011
  • Updated: Mon, September 10, 2012

  • Reported By: bill1212 — atlanta Georgia United States of America
Commercial Lending Corporation
10475 Park Meadows Drive #600 Lone Tree, Colorado United States of America

Commercial Lending Corporation Mike Kidwell Advanced Fee Scam Lone Tree, Colorado

*UPDATE EX-employee responds: a response to the allegations posted by Mike Kidwell,

*Author of original report: Mike Kiwell has a problem with the truth

*REBUTTAL Owner of company: Response from Commercial Lending Corporation (CLC)

*REBUTTAL Owner of company: Response from Commercial Lending Corporation

*REBUTTAL Owner of company: Response from Commercial Lending Corporation

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Commercial Lending is a Advance Fee scam. Mike Kidwell stole $15, 000 from me. Commercial Lending solicited me to re negotiate my loan with the FDIC. Not only did his company lead me to believe they were actually negotiating with the FDIC, they collected all my financial data saying they were going to give me a loan. Neither of these things happened.

After months of emails stating things were going well I got suspicious. Icontacted the FDIC and found out they have never heard of or been contacted by this company. I called Mike Kidwell and he refused to give me a refund or send back my documents. Commercial Lending Corp's agreement said they would refund the money if they were unsuccessful. I have since found out that it is against the law in Colorado to accept a advance fee for a loan.

I also found out that Mike Kidwell is not even a licensed mortgage broker. Please stay away from Mike Kidwell and his company. He is in business of taking your money using fraud and misrepresentation. Do not believe his explanation above. He is a con man who is not capable of telling the truth. He manufactured a crazy story about getting the FBI on one of his rogue brokers. If you have been ripped off by this guy contact me.

This report was posted on Ripoff Report on 09/08/2011 03:17 PM and is a permanent record located here: http://www.ripoffreport.com/r/Commercial-Lending-Corporation/Lone-Tree-Colorado-80124/Commercial-Lending-Corporation-Mike-Kidwell-Advanced-Fee-Scam-Lone-Tree-Colorado-774504. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 1Consumer 3Employee/Owner
Updates & Rebuttals

#1 UPDATE EX-employee responds

a response to the allegations posted by Mike Kidwell,

AUTHOR: Walt - (United States of America)

This is a response to the allegations posted by Mike Kidwell, President of Commercial Lending Corporation to the scaminformer.com web site.

The allegations posted by Mr. Kidwell against Walt Trock are inaccurate, untrue and unsupported by the facts of the
situation.  In answer to Mr. Kidwells assertions I offer the following evidence which can be supported by signed documents.

1.  I started in commercial lending in 2009 after 20 years of operating as a Residential Mortgage Banking Corporation. 
As a Mortgage Banker we were responsible for originations, processing, underwriting, closing and banking all of our residential mortgages.  With the collapse of the industry in 2008 it was decided to transition into commercial lending.

2.    In April 2010 Mr. Kidwell took me under his wing as a commercial lender trainee.  Even though I was classified as an independent I was actually an employee for the following reasons.  One, all my emails were conducted through the Commercial Lending server where each email was read and modified as needed by management.  Two, all contractual agreements were supervised and edited by management.  No contract could be executed with a client without the specific consent of CLC management.   Three, all monies were handled directly through the designated CLC banks at no time was I allowed to handle any funds directly.  Four, Mr. Kidwell directed and assigned any support functions that were needed to fulfill a contractual agreement. Fifth I was not allowed to work for any other commercial lending company.  According to the 13 points of IRS code all of these factors classify me as an employee not withstanding any signed agreements.

3.  When the agreement was negotiated and signed with Mr. Whitmore it was determined that I did not have enough experience in dealing with the FDIC directly and that the assignment should be handed over to others with more experience in dealing with the FDIC,

4. It was Mr. Kidwell that determined that Mr. Olcha and Mr. Fuhrman had the experience to bring the FDIC agreement to completion.  My role was that of a liaison between Mr. Whitmore, Mr. Kidwell, Mr. Olcha and Mr. Fuhrman.

5. I worked with and invested many hours with Mr. Whitmore trying to recover his deposit once it was determined that Mr. Kidwell and Mr. Olcha had not succeeded in performing any actual contact or agreement with the FCDIC as outlined in the original agreement signed by Mr. Kidwell and Mr. Whitmore.

6. The money that Mr. Kidwell claims that he refunded to Mr. Whitmore were actually funds that Mr. Kidwell withheld from commissions that I earned from other clients that he sent to Mr. Whitmore as if the money came from CLC and not Walt Trock.

7. As to Mr. Kidwells unblemished record I would like point out that on September 23, 2009 Mr. Kidwell signed a stipulation and consent order of prohibition with the Office of Thrift Supervision whereas he agreed that he was barred from holding any office, or participate in any manner in the conduct of affairs of any insured depository institution or any subsidiary thereof of any insured credit union under the Federal Credit Union Act or the Farm Credit Act or the Federal housing Finance Board and any Federal Home Loan Bank.  The signed order is a matter of public record. 

If any of Mr. Kidwells assertions were true then it would stand to reason that I would be under investigation or at  the very least be subject to a law suit.  As of today, neither of those events are taking place.  All that Mr. Kidwell is attempting to do is deflect responsibility to others who were not responsible.  His words speak volumes about his personal character or lack thereof. 
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#2 Author of original report

Mike Kiwell has a problem with the truth

AUTHOR: bill1212 - (United States of America)

All correspondence concerning my negotiation was with Mike Kidwell. The Commercial Lending website listed Walt Trock, Gary Olcha, Mike Kidwell as employees of the company and each person identified themselves as a member of the company. There was never a listing of these individuals as contractors. Mike Kidwell is not a registered commercial mortgage broker in the State of Colorado. You are required to have a license to represent yourself as a commercial mortgage lender. Also collecting a fee for a service you have no intention of providing is against the law. I was not told by the bank that Commercial Lending had not corresponded with them. I heard that directly from the FDIC. As far as the money Mike Kidwell claims was paid out to all the other party's, the wire was sent to and cashed by Mike Kidwell of Commercial Lending. Mike Kidwell's first comment when I told him that I knew his company scammed me was that there would be no refund, even though he agreed that the money would be refunded if Commercial Lending was unsuccessful. Mike Kidwell claims there have been no complaints against him is false. Just google his name and his company's name. As far as the Better Business Bureau goes I know I filed a complaint. This guy will take your money. His long winded responses to all the claims against him are just the ramblings of a delusional Con Man. He has no intention of giving me my money back. I am filing complaints against him and his associates with all the appropriate state and federal agencies. Please stay away from this guy and his company. You will lose your money. He will also have his day in court. Let's see how well his BS stands up to a jury.
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#3 REBUTTAL Owner of company

Response from Commercial Lending Corporation (CLC)

AUTHOR: Quality Control - (United States of America)

John Whitmore was originally solicited by Walt Trock in Illinois now representing his own company McMann Financial, a one man show who worked in conjunction with Gary A. Olcha, CCRA now in Florida and Doug Fuhrman of Core Commercial Capital a division of the Douglas Rogers Group, LLC, also a one man show in New Jersey all former contract labor business development officers for Commercial Lending Corporation (CLC).  These gentlemen were not employees of CLC. 

John Whitmore and Mike Kidwell found out about Olcha's fraudulent activities at the same time from the Bank that had purchased his loan from the FDIC.  The contact at the Bank stated to Mike Kidwell that Gary Olcha had never been in contact with them which was contrary to what Gary Olcha had told John Whitmore and Mike Kidwell over the course of several months.  CLC's fatal error was taking Olcha, Trock and Fuhrman's word that CLC had earned the fee charged and the $15,000 perceived earned fee was then disbursed as follows.  Olcha $6,147, Trock $2,924, Fuhrman $1,703 and CLC $4,226. 
 
CLC has since returned to John Whitmore its $4,226 fee and has made demands for the return of the balance of funds from Olcha, Trock and Fuhrman with no response to date.  Legal proceedings are moving forward to collect the balance of John Whitmore's funds from Olcha, Trock and Fuhrman.  Both CLC and John Whitmore were taken advantage of by Olcha.  CLC is attempting to correct the fraud perpetrated by Olcha and return to John Whitmore all of his funds that Olcha, Trock and Fuhrman in essence scammed from John Whitmore and lied to CLC about the progress of the loan.
 
In reference to the return of John Whitmore's documents Walt Trock in Illinois had possession of his documents not CLC and they have since been returned to John Whitmore upon CLC's demanding said docs be returned from Walt Trock's possession.
 
In regards to John Whitmore's comment about illegally collecting advance fees and mortgage licensing in Colorado the licensing laws in this State are for residential 1 to 4 unit mortgage brokers/bankers not commercial mortgage brokers/bankers.  CLC is a commercial mortgage broker/banker not a residential mortgage 1 to 4 unit broker/banker.  Therefore holding a residential 1 to 4 unit mortgage license is not a requirement of CLC in the State of Colorado.  
 
Unfortunately for all parties CLC trusted Olcha a 40 year veteran of commercial real estate underwriting and a contract laborer of CLC to perform his contractual BDO responsibility to CLC and CLC's borrower with ethical and professional standards which he did not.  Both John Whitmore and CLC were taken advantage of.  CLC is in the process of legal proceedings to collect the balance of said funds and return the balance owed to John Whitmore.
 
CLC has never had a complaint since it started business in 1997 and is A+ rated by the Better Business Bureau in Colorado.  Since the Gary A. Olcha, CCRA syndrome CLC has put in place quality control measures to keep this kind of fraudulent activity from happening again. 
 
Any questions or comments can be directed to Mike Kidwell, president of CLC at 303-771-1031.  CLC's BBB report can be reviewed here:  http://www.bbb.org/denver/business-reviews/mortgage-bankers/multi-family-and-commercial-lending-in-englewood-co-90122807
 
We sincerely apologize to John Whitmore for his mistreatment and won't stop until he has had the balance of his funds returned to him from Olcha, Trock and Fuhrman.

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#4 REBUTTAL Owner of company

Response from Commercial Lending Corporation

AUTHOR: Quality Control - (United States of America)

John Whitmore was originally solicited by Walt Trock in Illinois now representing his own company McMann Financial, a one man show who worked in conjunction with Gary A. Olcha, CCRA now in Florida and Doug Fuhrman of Core Commercial Capital a division of the Douglas Rogers Group, LLC, also a one man show in New Jersey all former contract labor business development officers for Commercial Lending Corporation (CLC).  These gentlemen were not employees of CLC. 

John Whitmore and Mike Kidwell found out about Olcha's fraudulent activities at the same time from the Bank that had purchased his loan from the FDIC.  The contact at the Bank stated to Mike Kidwell that Gary Olcha had never been in contact with them which was contrary to what Gary Olcha had told John Whitmore and Mike Kidwell over the course of several months.  CLC's fatal error was taking Olcha, Trock and Fuhrman's word that CLC had earned the fee charged and the $15,000 perceived earned fee was then disbursed as follows.  Olcha $6,147, Trock $2,924, Fuhrman $1,703 and CLC $4,226. 
 
CLC has since returned to John Whitmore its $4,226 fee and has made demands for the return of the balance of funds from Olcha, Trock and Fuhrman with no response to date.  Legal proceedings are moving forward to collect the balance of John Whitmore's funds from Olcha, Trock and Fuhrman.  Both CLC and John Whitmore were taken advantage of by Olcha.  CLC is attempting to correct the fraud perpetrated by Olcha and return to John Whitmore all of his funds that Olcha, Trock and Fuhrman in essence scammed from John Whitmore and lied to CLC about the progress of the loan.
 
In reference to the return of John Whitmore's documents Walt Trock in Illinois had possession of his documents not CLC and they have since been returned to John Whitmore upon CLC's demanding said docs be returned from Walt Trock's possession.
 
In regards to John Whitmore's comment about illegally collecting advance fees and mortgage licensing in Colorado the licensing laws in this State are for residential 1 to 4 unit mortgage brokers/bankers not commercial mortgage brokers/bankers.  CLC is a commercial mortgage broker/banker not a residential mortgage 1 to 4 unit broker/banker.  Therefore holding a residential 1 to 4 unit mortgage license is not a requirement of CLC in the State of Colorado.  
 
Unfortunately for all parties CLC trusted Olcha a 40 year veteran of commercial real estate underwriting and a contract laborer of CLC to perform his contractual BDO responsibility to CLC and CLC's borrower with ethical and professional standards which he did not.  Both John Whitmore and CLC were taken advantage of.  CLC is in the process of legal proceedings to collect the balance of said funds and return the balance owed to John Whitmore.
 
CLC has never had a complaint since it started business in 1997 and is A+ rated by the Better Business Bureau in Colorado.  Since the Gary A. Olcha, CCRA syndrome CLC has put in place quality control measures to keep this kind of fraudulent activity from happening again. 
 
Any questions or comments can be directed to Mike Kidwell, president of CLC at 303-771-1031.  CLC's BBB report can be reviewed here:  http://www.bbb.org/denver/business-reviews/mortgage-bankers/multi-family-and-commercial-lending-in-englewood-co-90122807
 
We sincerely apologize to John Whitmore for his mistreatment and won't stop until he has had the balance of his funds returned to him from Olcha, Trock and Fuhrman.

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#5 REBUTTAL Owner of company

Response from Commercial Lending Corporation

AUTHOR: Quality Control - (United States of America)

John Whitmore was originally solicited by Walt Trock in Illinois who worked in conjunction with Gary A. Olcha, CCRA now in Florida and Doug Fuhrman in New Jersey all former contract labor business development officers for Commercial Lending Corporaton (CLC).  John Whitmore and Mike Kidwell found out about Olcha's fraudulent activities at the same time from the Bank that had purchased his loan from the FDIC.  The contact at the Bank stated to Mike Kidwell that Gary Olcha had never been in contact with them which was contrary to what Gary Olcha had told John Whitmore and Mike Kidwell over the course of several months.  CLC's fatal error was taking Olcha, Trock and Fuhrman's word that CLC had earned the fee charged and the $15K was then disbursed as follows.  Olcha $6,147, Trock $2,924, Fuhrman $1,703 and CLC $4,226. 
 
CLC has since returned to John Whitmore its $4,226 fee and has made demands for the return of the balance of funds from Olcha, Trock and Fuhrman with no response to date.  Legal proceedings are moving forward to collect the balance of John Whitmore's funds from Olcha, Trock and Fuhrman.  CLC and John Whitmore have both been taken advantage of by Gary A. Olcha, CCRA.  CLC is attempting to correct the fraud perpetrated by Olcha and return to John Whitmore all of his funds that Olcha, Trock and Fuhrman in essence scammed from John Whitmore and lied to CLC about the progress of the loan.
 
In reference to the return of John Whitmore's documents Walt Trock in Illinois had possession of his docs not CLC and they have since been returned to John Whitmore upon CLC's demanding said docs be returned from Walt Trock's possession.
 
In regards to John Whitmore's comment about illegally collecting advance fees and mortgage licensing in Colorado the licensing laws in this State are for residential mortgage brokers/bankers not commercial mortgage brokers/bankers.  CLC is a commercial mortgage broker/banker not a residential mortgage broker/banker.  Therefore holding a residential mortgage license is not a requirement of CLC in the State of Colorado.  
 
Unfortunately for all parties CLC trusted Gary A. Olcha, CCRA a 40 year veteran of commercial real estate underwriting and a contract laborer of CLC to perform his responsibility to CLC and CLC's borrower with ethical and professional standards which he did not.  Both John Whitmore and CLC were taken advantage of.  CLC is in the process of legal proceedings to collect the balance of said funds and return the balance owed to John Whitmore.
 
CLC has never had a complaint since it started business in 1997 and is A+ rated by the Better Business Bureau in Colorado.  Since the Gary Olcha syndrome CLC has put in place quality control measures so this won't happen again. 
 
Any questions or comments can be directed to Mike Kidwell, president of CLC at 303-771-1031.  CLC's BBB report can be reviewed here:  http://www.bbb.org/denver/business-reviews/mortgage-bankers/multi-family-and-commercial-lending-in-englewood-co-90122807
 
We sincerely apologize to John Whitmore for his mistreatment and won't stop until he has had the balance of his funds returned to him from Olcha, Trock and Fuhrman.
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