• Report: #689935
Complaint Review:

Commercial Mortgage Consultants Inc

  • Submitted: Wed, February 02, 2011
  • Updated: Mon, December 10, 2012

  • Reported By: Shelley — Montana United States of America
Commercial Mortgage Consultants Inc
1128 Grant Street, Denver, Co. 80203 Denver, Colorado United States of America

Commercial Mortgage Consultants Inc Richard Graves Scammer or bad businessman? Denver, Colorado

*Author of original report: LIAR LIAR LIAR

*REBUTTAL Owner of company: Shelly Snead


*Author of original report: Richard Graves Doing Business in Florida


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Richard Graves of Commercial Mortgage Consultants, Inc. up until today I still thought was an honest businessman that made a bad decision but today I received conformation that he refused to claim the certified mail I sent on 1-3-2011 and now confirms my suspicions that he may have been scamming me.

Richard Graves is a commercial mortgage consultant. Clients pay him money $875.00 to qualify them and another $875.00 to match them up with a lender. But the lender, Wiseman Capital Group of San Antonio Texas was fraudulent and never had any intention of funding. Wiseman Capital Group collected $2,500.00 as a deposit up front for what they called Good Faith on my part to start the loan process. After countless promises from the lender and never keeping one promise I come to find Wiseman Capital Group to be a fraudulent lender. Richard Graves is the one that match me up with Wiseman Capital yet Richard Graves refuses to see any responsibility. On 1-3-2011, I sent Commercial Mortgage Consultant Inc. a certified letter but they refused to claim it. Richard Graves, stopped calling or emailing me 3 weeks prior to the final so called closing date. He had moved on and wanted to distance himself from the situation but he is still in the middle of this and I believe owes me a refund. If he is a legitimate businessman then he needs to take responsibility for the people he does business with and refer his clients to. He needs to do the right thing and refund me my money. Im the damaged party; I trusted him and the company he referred me to. With all my husband and I have been through I feel he owe me all the money I sent him. He should have had enough integrity to have made some attempt at fairness to both of us. A Letter of Intent from a fraudulent lender does not qualify as securing me a lender and Richard Graves owes me no less than the second $875.00 back.

The following is the unclaimed demand letter I sent to Commercial Mortgage Consultants and Richard Graves on 1-3-2011:

On August 14, 2010, I mailed you a check for $875.00 as a due diligence fee to determine whether Borrower will qualify for a commercial loan and to further determine the best type of loan for Borrower, if Borrower qualifies.

On September 3, 2010 I wired you 875.00, for the service of securing a lender on the property located at 568 Armington Road, Belt, Montana 59412. This so-called lender Wiseman Capital Group was a fraudulent lender and in your words must be doing drugs or drinking you knew early on that there was something wrong with Rey Rodriguez from the conversations and the emails or lack there ofto the strange paperwork you received from him. You also informed me that he was doing the same thing to another client of yours. You are in the referral business and you are responsible for the people you do business with. I put a lot of money up in GOOD FAITH to you and then to the company you referred me to. Wiseman Capital Group and Rey Rodriguez along with you have cost me approximately $10,000.

Before I sent you any money I questioned where the money would be coming from. I even asked you if it was hard money you told me that the funding would be coming from a trust managed by your sister & you exuded confidence in that fact. You told me that no money would be requested from the lender until thy, were committed to the loan. The fact is that Rey Rodriguez is a fraudulent lender and never had any intention or means to fund any loan. I believe you were misleading me from the beginning. After obtaining Wiseman Capital Group I asked if you had ever done business with him before me and you told me you had done business with him but later when you knew he was not of his word you told me that he came highly recommended.

You stopped calling or emailing me 3 weeks prior to the final so called closing date. You had moved on and wanted to distance yourself from the situation but you are in the middle on this too and I believe you owe me a refund. If you are a legitimate businessman then you need to take responsibility for the people you do business with and refer your clients to. You need to collect any money you are out from Rey Rodriguez and Wiseman Capital Group. But in the meantime you need to do the right thing and refund me my money. Im the damaged party; I trusted you and the company you referred me to. With all my husband and I have been through I feel you owe me all the money I sent you. You should have had enough integrity to have made some attempt at fairness to both of us by now. So Ill tell you whats fair; I sent you the first $875.00 for your due diligence in qualifying me and thats my cost of doing business with someone I dont know, however the 2nd $875.00 is at issue. A Letter of Intent from a fraudulent lender does not qualify as securing me a lender and you owe me that $875.00 back.

This is formal demand upon you to restore and refund to me to sum of $875.00. You have ten (10) business days to refund my money, if I have not received my $875.00 by January 13, 2011, I will be forced to take other steps to protect my interest including compensation for all the money you have cost me.

The following is the rip off report I filed on Wiseman Capital Group:

Days before I was suppose to originally close I found out that my file had been sitting on someones desk for at least three weeks. Once Wiseman Capital Group received $2500.00 from me they did nothing with the loan--it apparently just set.

For nearing two months now my husband and I have been homeless; living in our RV in a campground in the middle of Montana. Its now November with snow and winter quickly approaching, because of Rey Rodriguez the owner of Wiseman Capital Groups, promises.

September 3, 2010, I wired $2500.00 to Wiseman Capital Group after receiving their Proposal to Lend letter including terms. With the exception of what the loan payments would bein fact its now over 2 month later and they still have not communicated the amount of my loan payment and yet Rey Rodriguez reassures me and the sellers agent that he will get me to the table any day. My escrow should have closed 10-6-10 then it was going to be 10-26-10. Rey Rodriguez assured me that there should be NO problem funding and closing on 10-26-2010. Then it was for sure the next week well were at the end of that week and Ive yet to get a phone call or email from Rey Rodriguez or Wiseman Capital Group. On November 2, 2010 I called Rey Rodriguez on what he said was his personal cell phone and got his receptionist where I sensed she was lying to me, I became firm and she hung up the phone on me and when I called back I got a message that the mail box for that number was full. There main number had the same message. That was three days ago and still NOTHING not an email not a phone call, nothing.

Rey Rodriguez knew my down payment was coming from my retirement account that was invested in the stock market. When Mr. Rodriguez assured me that the loan would close on 10-26-10 I liquidated my stock, took an early withdrawal which I will have to pay penalties on the money and without a thought for me.

I have been damaged to the tune of approximately 10,000.00 in this deal. Ive moved from my home and my belongings are on a moving trailer and being stored at a sizable fee and still I have no home.

And its not just me thats being damaged. Rey Rodriguez knows the seller is trying to close on her new property but is contingent on the sell. Look at the time thats been wasted by so many people working on a deal that Wiseman Capital Group has barely worked on and I think has no intention to ever close this deal. Rey Rodriguez has strung me along for over two monthsIve lost the time it would take me to find new money. Ive lost the opportunity to buy a business and its future income. Ive lost a home and Ive lost of a lot of money.

Rey Rodriguez, again set a closing date of 11-15-2010, He sent me papers stating the loan was approved by the underwriters and yet here it is 11-15-2010, and I have heard NOT a word from him. He doesnt answer my emailsnor does he return my calls.Eight days later after the underwriters approval had passes Rey Rodriguez writes with yet more excuses. Then on 12-9-2010 he writes: I need your address to send you a refund. I am sorry that I did not get your loan financed. Please send me your address and I will send it today. To date I has received NO more communication or any refund.I also sent Wiseman Capital Group a demand letter which they signed for but never responded to.

This report was posted on Ripoff Report on 02/02/2011 02:21 PM and is a permanent record located here: http://www.ripoffreport.com/reports/commercial-mortgage-consultants-inc/denver-colorado-80203/commercial-mortgage-consultants-inc-richard-graves-scammer-or-bad-businessman-denver-co-689935. 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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2Author 2Consumer 1Employee/Owner
Updates & Rebuttals

#1 Author of original report


AUTHOR: - ()

Pretty much all of what Mike Kermode has said is a lie. I stand by my original statement. Richard Graves is a broker and sent me to a bogus and phony lender (Rey Rodrigues of Wissmen Capital) and would not take responsibility for his actions. I hold Richard Graves responsible for that. I trusted Richard Graves and that trust turned out to be a mistake. Buyer beware! Do your homework.  Richard Graves might be a "businessman" but if he is doing business with a phony lender how do you think that is going to turn out for you?

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#2 REBUTTAL Owner of company

Shelly Snead


When we became that Shelly had filed a complaint we were shocked to say the least.  CMC made every effort to close the loan on the RV Park she was trying to purchase.  The park itself had may issues with historic income, change of ownership and current cash flow.  The business plan had to be updated along with numerous adjustments the borrower's resume and projections.  We worked many hours preparing her loan package and working through the application process for an SBA 7A loan. We received a conditinal approval letter through Wiseman Capital.  A couple of weeks prior to their requested closing date, the realtor gave everyone an ultimatum of either closing in a couple of days or they were going to sell this to another buyer.  We spent over 2 months working on this loan.  I personally called Shelly Snead after we had moved our offices to Sarasota, Florida on a conf call with her referring mortgage broker.  We offered  her an $875 refund.  She demanded $10,000 cash be sent to a PO box in Montanna.  If you have any questions regarding this matter, feel free to contact me directly at (303) 756-5050 OR my cell at (((REDACTED))).  Our office is located at 222 Greenwood Avenue; Sarasota, Florida 34243 and my email is richard@commercialmtgbankers.com


 I think this matter can best explained by a letter I am attaching from the broker who referred this loan to our office.  




$$$$             Maximum Financial Inc.             $$$


36 Cartier Court, Dillon CO 80435                               970-513-8062 Ph. 970-441-9003 Fax

To whom it may concern:

I am the broker that referred Shelly Snead to Richard Graves at Commercial Mortgage Consultants. I
was involved in the entire process with this loan request and I am truly baffled as t why Shelly
Snead would misrepresent the truth as she did in this complaint.

First of all, I have known Richard and CMC for almost ten years.  I have closed countless loans
with them and still refer loans to them. Richard is a man of integrity and I have always enjoyed
working him and the company.

Second, To follow up on Shelly’s complaint. I have been to Richard’s office in Denver and also in
Florida. I don’t understand what she is talking about regarding them not having an office. Of
course they do. Very nice office as  well.  Also, I was on a conference call with Richard and
Shelly when CMC had moved to Florida.  I recall Richard offering Shelly a refund of her $875 and
Shelly refusing the refund. She said she wanted $10,000 or she was going to get on the internet and
make his life miserable. You will also note that her complaint does not have an email address,
physical address or phone number. The site that reports this “complaint”, Rip Off Report .com is
known for their questionable business practices in preying on complaints and generating profits
from honest businesses to remove or suspend complaints. This “complaint” is a misrepresentation of
the truth as I know it to be.

CMC is an excellent company and they are closing loans and helping people all the time.

Mike Kermode Maximum Financial Inc 970-513-8062



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#3 UPDATE EX-employee responds


AUTHOR: Anonymous - (United States of America)

The two complaints written about Commercial Mortgage Consultants, Inc. are written by the same individual committing libel to tarnish a man's career.  READERS BEWARE!! This is only one person out of thousands Richard Graves has served in his 25 year career in the commercial mortgage industry.  This person is targeting the wrong company which is obvious in the initial post.
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#4 Author of original report

Richard Graves Doing Business in Florida

AUTHOR: Shelley - (United States of America)

Oh, Richard. Are you back in business again? Did you know that there is a terrorist group that has a AAA rating with the BBB? Did you know the organization has been the subject of controversy, particularly related to its practice of giving businesses that pay a membership fee higher ratings. Anyone can buy a AAA rating. Did you know that Commercial Mortgage and Richard Graves has three unresolved complaints with the BBB? My unfortunate situation with Richard Graves happened two years ago. Why has Richard Graves never disputed my complaint on ripoffreport.com? Two years ago Richard Graves suddenly vacated his
office and apartment and avoided a subpoena being served by the Denver Police Dept. Why wasn't Richard Graves outraged at what happened to me and why didn't he insist Wiseman Capital Group rectify the situation? Yes, I agree, do your
research and go to a reputable site like this one, not the BBB that anyone can buy their rating. Ripoffreport.com is a site that is the only option left for people who have been ripped off and have no other recourse. Richard Graves was able to avoid a law suit but now that you have brought him to light again and now that I know he is in Florida l'llI be contacting my private investigator to locate him and re-file my law suit. Thanks Mr. Anonymous. Oh and you say "Richard Graves is a wonderful person"?

Well your "wonderful person" has no integrity and now he's back in business. If you are looking for a Mortgage Broker move on, it's not worth the risk you will be taking to do business with Richard Graves and Commercial Mortgage Consultants.
You say "blame the goverment"? Well that's just what someone would say that can't take responsibility for his own actions.

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#5 General Comment


AUTHOR: Anonymous - (United States of America)

It may be just me but it seems Richard Graves did his due diligence and your real issue is with Wiseman Capital Group.  You are attempting to tarnish a company's reputation simply because he did his part but the loan feel through and you had issues with the Lender.  Consumers...check the AAA rating on the Better Business Bureaus site in regards to Commercial Mortgage Consultants.  Please do your research before getting into business with anyone, but go to a reputable site such as the BBB instead of this one.  This site is for clients who are vengeful and want pity.  I am sorry you did not get your money but news flash, the economy is in a slump and you are not the only one who has lost property, regardless of the effort by the brokers and lenders.  Blame the government...
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