Commercial Lending Capital They verbally approve, collect $9,000 for appraisal and loan cost, decline you and charge you $40,000 Corona, California

I agree with the original poster that CLC is horrible. They have a system where the "intake" person gathers loan info. from you (financials, summary, etc.) then tells you that it's "definitely" a deal they can do. They they claim that the loan is being reviewed by their own underwriters. But their underwriter is no better than you or me because CLC is a Broker...Not a Lender. They really have no idea if a REAL investor will actually find the loan.

They insist that they are a Corespondent Lender...which is code word for Broker. They issue me and my client a LOI with a request for $9k+. After two months they tell me that the loan does not qualify for some ridiculous reason, but will not refund client's deposit. It's a shame that I did not do more research on this company before client paid the deposit. It turns out there are dozens of people who have been scammed by CLC.

They are truly disgusting.

This is the kind of thing that needs to be revealed and this is a great forum to do this! Thank you! Also please consider writing a more detailed report and send it to:

http://www.ftc.gov/reports/index.htm