• Report: #1117648
Complaint Review:

Ripoff Report | Financial Funding, LLC

  • Submitted: Wed, January 22, 2014
  • Updated: Sun, November 22, 2015

  • Reported By: Bruce Jones — lakehurst New Jersey
Financial Funding, LLC
40 Wall St 28th Fl New York, New York USA

CRE-Finance REVIEW: CRE-Finance dedicated to total customer satisfaction. CRE-Finance management takes hands on approach to working with clients from application through closing.
*UPDATE: CRE-Finance, LLC pledges commitment to Ripoff Report Corporate Advocacy, Business Remediation & Customer Satisfaction Program. A program that benefits consumers, ensuring complete satisfaction, confidence when doing business with a member business. CRE-Finance recognized by Ripoff Report Verified™ as a safe business service.

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EDitor's UPDATE: Positive rating and recognition has been given to CRE-Finance for its full commitment to quality customer service.

Ripoff Report's discussions with CRE-Finance, LLC have uncovered an ongoing dedication by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any concerns. CRE-Finance, LLC listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

CRE-Finance's principal and managing member, Mr. Richard Tretsky, has informed us that his personal philosophy is that his clients success are the heart of the business. As a successful businessman, Mr. Tretsky feels it is critical to listen to his clients and respond properly. By always putting his customers first, Mr. Tretsky hopes to maintain CRE-FINANCE, LLC as a successful enterprise both now and for many years to come. Another top executive, CEO Todd Tretsky told us that Mr. Tretsky's personal business philosophy is based on the premise that "strives to add value in service, understanding that a successful business model is based on value-added services, and client care". CRE-FINANCE, LLC's Todd Tretsky says this, "We are one of the top Correspondent Lenders for helping small businesses create and build their own businesses. With us, you'll always receive an honest and straightforward approach to financing that comes from a team who consistently works with affiliates from large and small investors to find the best fit for the financial needs of small businesses all over the country.”

One of the things Ripoff Report learned in the course of its review is that typical customer feedback reads, "CRE-Finance, LLC truly communicate all aspects of the service in a timely and effective manner. We are very pleased with the responsiveness that the employees show us. They are serious about meeting commitments, and deliver on their promises.”

The information provided in this report is based on comments made by Richard Tretsky during an onsite inspection held by a third party verification company with no biases toward World Patent Marketing.
CRE-Finance is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..

CRE-Finance LLC is a correspondence commercial mortgage lending company that can also be found under the company name Financial Funding LLC. They provide a wide array loan options for potential clients for all types of commercial loans. One of CRE-Finance LLC's main objectives is dealing with banks, insurance companies, and investment bankers in order to place investor's loans with the right lender.

Most of their leads are developed through their positive reputation. Richard Tretsky went on to explain, "over the past forty years we have built a network of quality mortgage brokers, realtors, builders, and developers." The quality of their reputation has led to financial consultants and accountants referring their services to potential clients. Mr. Tretsky also informed us that they do advertise on both Google and yahoo which has provided leads for their company. It should be noted that none of the leads for CRE-Finance LLC are purchased.



During the onsite interview Mr. Tretsky was asked to describe a situation where a client was not satisfied with the level of service they received. Mr. Tretsky went on to explain that, "usually complaints against our company are in reference to clients believing that their property should be appraised at a higher value. If complaints like this arise CRE-Finance LLC with offer for an appraisal to be conducted by a third party appraiser. This allows for the client to have a firm understanding of their properties worth from an unbiased source. Complaints can also arise when clients are asked to provide documentation necessary to determine whether or not they qualify for a loan. However, once the proper documentation is provided and the loan can be closed the issues are resolved.”

When asked to comment on complaints posted on Ripoff Report's website Mr. Tretsky informed us that some people who inquire services with CRE-Finance LLC believe that they will automatically qualify for a loan, or receive a certain loan amount. However, this is simply not the case, there are several factors that go into determining the qualifications of a loan. With over 40 years of experience and funding over 10,000 loans CRE-Finance LLC understands the many elements that go into applying for a loan, and are glad to go over applications and provide any information to get people funded. They will use all their professional experience to make sure every customer is ultimately satisfied.

When asked what type of changes they have made to honor their commitment to make things right with the customer per the request of Ripoff Report, Mr. Tretsky informed us that they have added additional staff, and spoke of one staff member in particular who has 25 years of experience. This staff member will primarily focus their attention on QUALITY CONTROL.

World Patent Marketing is proud to be a part of Ripoff Reports Corporate Advocacy Business Remediation and Customer Satisfaction Program. They view this as an opportunity to show their dedication to quality customer service through a trustworthy source.



"Whether you’re an individual or a business, chances are you don’t feel warm and fuzzy about commercial mortgages. The term “friendly, local banker” seems to be a sweet little notion left over from the last century—a relic that has lost its meaning. What’s more, securing loans, finding reasonable fees, and simply getting sound financial guidance and personal attention have become major challenges. For many, the entire commercial mortgage experience is discouraging—even intimidating. At CRE Finance, LLC we’re restoring your faith in Correspondents. Designed to be a resource for all your commercial mortgage needs, we focus on relationships first. By getting to know you, we’re able to find solutions that let you meet your goals and fulfill your dreams. Small enough to be nimble—and unencumbered by the layers of bureaucracy that plague large institutions. We’re creative and understanding, plus we have the flexibility to customize solutions and provide commercial financing needs that suits your situation. We respond quickly, so you can move forward with your life and your plans. Don’t mistake “small” for “unsophisticated,” though. Knowing that convenience is important to you, we offer innovative products that are very competitive. What really defines us is our team. Seasoned over 100 years of combined training, and extremely approachable, our executives and staff are also immersed in your loan process with the goal of building relationships and make your corner of the world a better place to live. At CRE Finance, LLC, your “friendly, Commercial Correspondent is here to serve you. So call us today to create the life you want, whether it’s building a business, growing or expanding your business, financing one building or multiple buildings we are here to help.”

“We are one of the top correspondent lenders for helping small businesses create and build their own businesses. With us, you'll always receive an honest and straightforward approach to financing that comes from a team who consistently with affiliates from large and small investors to find the best fit for the financial needs of small businesses all over the country. Please take time to review our site, learn about some of our programs, and meet the people who will work with you during the transaction, understand our history, and receive answers to some of your questions.”

CRE-Finance, LLC's CRE-Finance, LLC's team have expressed that they feel very confident doing their job. CRE-Finance, LLC takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this, "CRE-FINANCE, LLC provides a very positive environment to work. Opportunities for suggestions and improvements are encouraged. Mr. Tretsky is truly concerned about our contribution to the company and providing growth opportunities for us. He takes the time to listen and communicate with employees and customers.”

Ripoff Report was pleased to learn that CRE-Finance, LLC's past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.



Choosing a Lender, Broker, or Correspondent Lender

"Maybe you've heard of mortgage lenders and mortgage brokers, but you're not sure what the difference is, or why you'd choose one over the other. Let's explore the differences between lenders and brokers, and also explore a third option -- the correspondent lender.


Lenders are banks, mortgage banks, or other financial institutions. These institutions lend their own money. They employ loan officers or other representatives to work with customers and underwriters to process the final loan approval. Underwriting may take place right in the lender's local branch, or at a central location.

Lenders fund your mortgage directly.


Brokers don't lend money. They shop your loan around to lenders until they find one to fund your loan. They may do some of the paperwork involved with funding the loan, but the ultimate underwriting approval is done by the lender.v Brokers work with lenders to fund your mortgage.

Correspondent Lenders

Correspondent lenders are almost like a hybrid between lenders and brokers. They can fund your mortgage themselves, or they can get your mortgage funded by a traditional lender. However, even when they send your mortgage out of house for funding, they can complete the underwriting process in-house, giving them more control and quicker turnaround than a broker.

Correspondent lenders may fund your mortgage directly, or by working with other lenders.

Which is better; a lender, broker, or correspondent lender?

The best person is the one who offers the most competitive rate, lowest fees, fastest turnaround on paperwork and approval, and lowest likelihood of botching your deal. Beyond that:

Brokers offer the flexibility of being able to shop multiple lenders at once. But once they send the paperwork to the lender for underwriting approval, they have no control over the process.

Lenders may offer quicker turnarounds since they conduct underwriting themselves. This is not always true for loan officers at national banks -- they often send their underwriting out of town to a central office.

Correspondent lenders are an excellent option, as they combine the flexibility of brokers and the processing speed and control of a lender.”



CRE-Finance, LLC recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report's review, Brandefined has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our review, which included discussions with Mr. Tretsky, Ripoff Report is convinced that CRE-Finance, LLC is committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. This program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.


Financial Funding, LLC NON-PAYMENT OF APPRAISAL WORK New York New York

 On June 5, 2012 we were hired by Financial Funding to complete a Commercial Appraisal in New Jersey.  We were advsied to collect partial payment from the borrower and the balance would be paid by them.  After the report was completed and sent, we were hired to complete 4 more appraisals in New Jersey and New York.

Monthly statement have been sent since December 2012 for a total amount of $10,400.00 and we have not received payment for any of the appraisals.  Several calls where placed to their office and the "Director of Operations" told us each time that she doesn't handle the payment and we would need to speak with accounting.  When calling back to speak with accounting it was the same person getting on the phone. 

Our office has spoken with the Vice President of Underwriting and have been told several times that a check is being sent out.  As stated before it is now January 2014 and still no payment.


This report was posted on Ripoff Report on 01/22/2014 12:27 PM and is a permanent record located here: http://www.ripoffreport.com/reports/financial-funding-llc/new-york-new-york-10005/financial-funding-llc-non-payment-of-appraisal-work-new-york-new-york-1117648. 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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#1 REBUTTAL Owner of company

In Response to Complain from Bruce Jones - Lakehurst, New Jersey

AUTHOR: Financial Funding LLC - ()

Realty Management Services, Inc., also known as RMS has been a thorn in our sides. Due to us both being local companies, we had a long standing working relationship for over 10 years. Recently, that relationship has soured due to our use of RMS Commercial Group for commercial appraisals. The quality was sub-standard and resolution was near impossible to non-existent.  We engaged them to do an appraisal of a property in Union, NJ. In that case, payment of the fee was misrepresented on an appraisal that was ordered with MAI designation.

With that said, one would expect that the level of the appraisal would be better than good. Having used national appraisal firms with appraisers with MAI designation, we had expectations. We expected the appraisal to be done thoroughly, with valuation variances (as is, as stabilized, etc.). The appraisal report of the Union NJ property was completed with the company engaging directly with the client even though we signed the engagement letter stating how the fee would be paid. The contract was changed in essence, on site with the borrower and without our knowledge. The report included giving a substantial value to a cell phone tower and billboard on the property but the report did not include any comparables to substantiate the value. When Bruce Jones was asked where the comparables were derived from, he had no response. The value of the property was severely inflated with nothing to back up how he arrived at the value of the cell phone tower and billboard. The borrower provided contracts, but there were no national nor local comparables to see if the contract was on par with competitors, below market or inflated.

Simultaneously, we engaged them to value a property in Atlantic City. The property was a mixed use property approximately two blocks from the Boardwalk. The purpose of the appraisal was to value to property for a purchase. The purchase price of the property needed to be evaluated to ensure it was on par with the actual condition of the property. The borrower provided Bruce Jones with a rent roll stating all three units were rented and generating income. When the appraisal report was received and reviewed by the office after the interior inspection, it was discovered that one of the units was currently under renovation. The property was down to the studs and uninhabitable. Despite that, the property value was brought in at purchase price. The location of the property was in a less than desirable neighborhood and this was verified with the surrounding properties. When Bruce was questioned on how the property came in at purchase price with an uninhabitable unit, there was no response. At the time, we ordered the reports directly through, a representative at RMS. We had numerous e-mail communications and face to face meetings regarding the issues with the commercial reports we were receiving. After that, there was still no resolution. To further back up the discrepancies in the report, the Atlantic City property and borrower was a case that went to court. The case can be found at Maria Yaqoob vs. Financial Funding in New Jersey Court. After the case was litigated, Financial Funding, LLC was awarded a judgment against the borrower. The audio of the trial can be purchased. In that, you will hear where the judgment was awarded to Financial Funding partly because the judge saw the issues with the appraisal report. It was stated that a false rent roll was provided and when the appraiser went out to inspect the property, when the shell unit was inspected it should not have come in at purchase price. It was proof that our suspicions were not unjustified.

Another appraisal report we engaged RMS Commercial to complete was a property in Philadelphia, PA. According to the appraisal, the fair market value of the property was placed at $6.3M. The cost analysis is based off of different variables, with one being the existing Rent Roll that was provided to the appraiser by the borrower. The rent roll provided was a falsification of the actual rent roll of the property, thereby making all of the calculations incorrect. Also included in the appraisal report was the indication that the borrower was leasing the roof to a cell phone tower company. Income from that was included in the cost analysis for the valuation, yet no lease was provided to prove there was an actual contract. This is the same problem we had on the Union, NJ property regarding using Cell Phone tower income with nothing to back it up. Unsubstantiated income was used both times and that illustrates the problem. In reality, there was no lease. When these variances were discovered, we went back to RMS and Mr. Jones numerous times in attempts to get the value corrected based on the actual numbers which were at least half of what was provided. Many attempts to the appraiser and representative went unanswered. We provided them with the actual numbers and inquired as to why the cell phone tower income was used without any documentation. Our inquiries when unanswered. Due to various issues, this borrower ended up in litigation and ineffective appraisal was again brought to light.

Alpha Funding Solutions, LLC attempted to do business with us at the end of 2013, start of 2014. Partners of Alpha Funding Solutions had an interest in what Financial Funding was doing on the business end. They wanted to sit down in January of 2014 to discuss possible employment with Financial Funding, LLC, but we suspect that was also an attempt to obtain access to intellectual property. A few months later, they again reached out to Financial Funding, LLC via several e-mails in March of 2013 looking to obtain information regarding who we correspond with on Wall Street. They were also looking to gain access to our application, documents we utilize and how we work our loans. Alpha Funding Solutions’ commercial division was started up after them attempting to do business with us. We suspect their attempts to do business with us was in order to get Financial Funding to issue them our documents so they could commit theft of intellectual property by way of utilizing our forms.

Appraisers and lenders should have a relationship where they work together to have the best interest of the client at hand. We by all means want an appraisal that accurately represents the property especially in this very volatile real estate environment we are in. Unsubstantiated values may help make a loan, but it does not help a borrower at all. We want to assist our borrowers in their financing needs, but in a realistic manner. In the current economic environment, misrepresentation of value will hurt our borrower more than anything else.

Financial Funding, LLC is filing litigation against the Real Estate Services, Inc. family of companies (RMS Title Services, LLC.; RMS Residential Appraisals and RMS Commercial Group, LLC) along with Alpha Funding Solutions, LLC in New Jersey courts. This is not a situation that could be handled amicably, therefore litigation is the next natural step in order to gain a resolution for both parties.

Price, Meese, Shulman & D'Arminio, P.C.

Mack-Cali Corporate Center

50 Tice Boulevard

Woodcliff Lake, New Jersey 07677

201-391-3737 (fax 201-391-9360)


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