Commercial Lending Capital Their business is to keep your unearned deposits Riverside, California

Let me just say this... They have a D- rating in the Better Business Bureau.  It is because of their sly business practices.

Here is my experience...

1) Look at my great rates.  Turn in these documents.  OK, your scores are not as great as I thought; here are higher interest rates.  By the way, my credit score is over 700. Turn in more documents.  We need more documents.  We need more documents.
2) Based on your documentation, here is a letter of interest.  Pay us a deposit.  Note: this is after months of documentation, and I don't want to change lenders at this point.  Loose contract terms are CL will keep your deposit should we approve your loan, you cancel the loan, or we find that you are dishonest (not word for word).  I get the feeling loan shall be approved, or if not, I'll get my deposit back.
3) I sign their contract and pay them the deposit.
4) They ask for one single documentation more which disqualifies my loan.
5) Loan is disqualified and they want to keep your money.
6) I say no and CL encourages me to sign a cancellation letter.
7) I wisen up to the clause that if I cancel, I get no money back.  I write a letter requesting my deposit back.
8) Commercial Lending denies my request.
9) Next step is lawsuit.

Don't want to be in my shoes?  Look for an honest lender.  Check their Better Business Bureau rating before doing business with them.

Oh, by the way, I am not this quoted client, as their contract clearly states that he cannot reveal their business practices.  I wonder why they have this in their contract?  I am a daughter of the client who has to deal with the aftermath of the robbed client in getting his money back, and I have signed no such contract.  The actual client has no idea I am giving bad reviews everywhere I can to this company.  He doesn't even know how to use the internet.  The actual client works as a hamburger flipper at Burger King, but in his early years was able to save up and buy real estate due to extreme frugality.  So to ask a burger flipper to lose a $7,000 deposit is criminal.  He's in his 60s and is working 2 jobs, just so he could buy real estate, and say he made it.  (Would not be my choice of spending my hard-earned money, but he got me through college). Not everyone who gets to the point of being a millionaire was born into it, nor was it easy. 

CL will rebut that it is a necessary cost to charge fees.  I concur with that if the cost was known upfront.  However, in the language that was presented, it does not show any intention of keeping the deposit for disqualifying the loan.  To qualify, I have not seen the paperwork prior to the one that requests a deposit, and that deposit document says that is the document to go by.  So I ask Commercial Lending, did any of your disclosures say that you will eventually request a deposit--prior to all the hassle of getting the other documents together?  I hadn't asked my dad either, but you can answer that here for me for all to see.  I know you read these updates, as you have responded to other complaints.