• Report: #600404

Complaint Review: Mountain Atlantic Lending

  • Submitted: Wed, May 05, 2010
  • Updated: Sat, February 26, 2011

  • Reported By: CW — Anywhere United States of America
Mountain Atlantic Lending
120 Lamped Loop New York, New York United States of America

Mountain Atlantic Lending Lending SCAM!! New York New York

*REBUTTAL Owner of company: Still closing loans

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

You be the Judge.

Guy Parsons with Mountain Atlantic Lending claims to be a boutique investment bank, able to close the loan himself if he can't sell the loan on the market. He gave my client a LOI to fund the loan and charged $5,000 for underwriting.

As soon as he got the money he didn't answer the phone at first and then came the excuses. First a car wreck and then a heart attack. His references backed him up and then wanted to recruit me for their business. We gave him more time and then we wanted our money back.

His response was, "great news, I found a company to fund your deal for $2,500 upfront underwriting, $2,500 travel, and $50,000 if we wanted the funding before 6-8 months". More money out of pocket for services? We already gave him $5,000 for underwriting and now an additional $55,000. He was adamant that he had fullfilled his obligations to fund the deal. Yeah Right!!!!!


This report was posted on Ripoff Report on 05/05/2010 10:53 AM and is a permanent record located here: http://www.ripoffreport.com/r/Mountain-Atlantic-Lending/New-York-New-York-10314/Mountain-Atlantic-Lending-Lending-SCAM-New-York-New-York-600404. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Mountain Atlantic Lending

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Still closing loans

AUTHOR: invbkr - (United States of America)

I find this report very disturbing. For a inexperienced residential mortgage broker to even drag my company and my name through the mud. A LOI is not a commitment to lend. And for this broker to even think that any of my reference's would even consider recruiting him is victious dream just much as his Lie's about us are .  Lets rembember my refences check out I close deals He check them not a bad word about myself or my company.What he failed write in this report is that while I was laid up he was in constant contact with my investor. 2nd He came requesting a hard money loan 24months 13% int only & 6 pts. What he got was a commitment to fund on his clients property 5year term min 7% rate and 4 points total he didn't mention that I wounder why. Come to find out his client was in BK and time was running out him. Both him and his client again dealing directly with the investor, he also exaggerate on the est time till closing not a land deal they couldn't bully the investor to push there deal ahead of others. When  you deal with private money there are some concessions that can be made my investor offered them a expedite option $50,000. Regarding the fees for underwriting and due diligence weather its conventional banking or hard money once you where give an approval let alone a commitment and clients walks away from it. Those funds are deemed hard. Let me apologize to those who will read this report not only on my company but myself. I been a banker for twenty five years thirteen with my own firm and  in thirteen years only one negative report which mean either I'm very good at  what I do. Or I don't have enough enemies. I also find disturbing that any one can go on the internet & smear your good name.
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
X