Ripoff Report Needs Your Help!
X  |  CLOSE
Report: #716755

Complaint Review: David Antonelli - WEST CHICAGO Illinois

  • Submitted:
  • Updated:
  • Reported By: anonymous — plainfield Illinois United States of America
  • Author Not Confirmed What's this?
  • Why?
  • David Antonelli 310 WOODSIDE DRIVE WEST CHICAGO, Illinois United States of America

David Antonelli ,/National Commercial Mortgage Funding Inc. Commercial mortgage broker charges big cash upfront to get you a mortgage and never does... WEST CHICAGO, Illinois

*Consumer Comment: Your not alone

*Author of original report: Update on deposit.....

*REBUTTAL Owner of company: Not All Customers Are Always Right

Show customers why they should trust your business over your competitors...

Is this
Report about YOU
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
How to fix
Ripoff Report
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Beware of any dealings with this scam artist posing as a 'mortgage broker. He has a business card says that says hes a "partner' of National Commercial Mortgage Funding Inc. a bogus shell company thats operating out of a vacant addresses in St charles,Illinois area(hes actually the owner) .
Once he befriends your local commercial real estate broker, he waits for an eager buyer and eager sellers to meet and strike a deal. Then he likes to start by putting on an act that seems very convincing that he is genuily interested in actually helping you get commercial mortgage funding for you or your company, and that he has proven methods of applying for such and even for sba loans that have almost guaranteed results for his clients, going as far as to even obtaining your financials and reviewing them with you to help convince you the service he is offering is legitimate and genuine. He even boasts about having relationships with banks that were offering unsecured lines of credit for up to 125k with just a signature available to sweeten the deal. The catch is: You have to pay him a fee of 1% of the loan amount. Which is typical for just about any type of mortgage, but he is requiring $5000.00 deposit of it, UP FRONT!!!! From you in cash with your application!

After he receives your check and your complete financial records, he says he will start looking and then "reach out to you" once he finds youre funding, usually in a couple weeks. I originally didnt fall for it actually thinking its a scam then but later re-negotiated the "upfront" fee to $3000.00. And only after my estate broker guaranteed my 3000.00 himself. I had nothing to lose! But even with the condition that he would pay me back the fee if he didnt get a loan. I of corse, Well, you probly guessed it, never got a loan, (or a denial letter either for that matter) and no refund! And the real estate broker wouldnt pay me back either. I later heard someone else in a similar situation to mine actually gave him 20k!!! Apparently, the state of Illinois does not regulate commercial mortgage brokers whatsoever. They should be required to be  licensed just like residential brokers.
 

This report was posted on Ripoff Report on 04/12/2011 12:25 PM and is a permanent record located here: https://www.ripoffreport.com/reports/david-antonelli/west-chicago-illinois-60554/david-antonelli-national-commercial-mortgage-funding-inc-commercial-mortgage-broker-cha-716755. 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. READ: Foreign websites steal our content

Search for additional reports

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

Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Updates & Rebuttals

REBUTTALS & REPLIES:
1Author
1Consumer
1Employee/Owner

#3 Consumer Comment

Your not alone

AUTHOR: johnparts - (United States of America)

POSTED: Monday, May 21, 2012

Don't let Davids smooth talking fool you he is a scam artist and I can prove that I'm his wifes cousin and he pulled the same stuff on me. I have filed a complaint with the Illinois Attorney General, and the FBI so I suggest you do the same.

Respond to this report!
What's this?

#2 Author of original report

Update on deposit.....

AUTHOR: anonymous - (United States of America)

POSTED: Thursday, June 02, 2011

Dont be fooled like me.and make no mistake, if your reading this and you  still give Dave Antonelli your money and financial records you will lose both.This complaint is not based on whether the customer is right or wrong, rather it is based on paid or not. That is how you need develop your opinion on this.I have paid the funds of $3000. As agreed and it was to be returned  if funding was not obtained.
 What happened here is simple, this broker had  claimed  abilitys to perform special financial services in order to get your deposit  and  lied about what he had intended to do and did.  Another point is when you apply for credit and are denied, you should receive a notice from the company or companies denying you or your company credit and why. Mr Antonelli was  supposed to be looking for two loans .
 I never received a  single decline notice or an indication that my credit report was even looked at!
Here are the facts. At this point Dave Antonelli and National Commercial Mortgage Funding, for  over the last 6 months, has ignored and continues to ignore all requests to refund my 3000.00 deposit. All of his addresses have been vacated, and his company have ignored letters from The Better Business Bureau, where the company has earned an  F- rating for no response. You can look yourself at there websight. In addition to that, they have Ignored 2 more letters from Lisa Madigans Office with The Illinois State Attorney concerning the dispute. They also have ignored at least  5 court appearances in Will County Small Claims Court concerning this matter with absolutely no response.
It is not only my intention to deter you from using this broker, but ALL commercial mortgage  brokers, as you have no recourse in the State of Illinois,  including  confidentiality whatsoever until the law changes and  to license their profession and govern their actions accordingly. If You need a commercial Mortgage DO NOT GIVE THEM ANY MONEY UP FRONT OR YOU WILL LOSE IT.!! Call a bank instead like Chase or Bank of America they have commercial loan department with fasttrac  programs. And they probably wont steal your money.
Im still waiting for mine!!!

Respond to this report!
What's this?

#1 REBUTTAL Owner of company

Not All Customers Are Always Right

AUTHOR: David J. Antonelli - (United States of America)

POSTED: Thursday, April 21, 2011

This particular customer was brought to me by a local commercial real estate agent  for the intent to purchase an industrial building.  I will start by saying that National Commercial Mortgage Funding,Inc is not a shell,it is the only company that I own representing commercial mortgages, shortly before we were retained by this client, the commercial real estate agent offered us space in his office with thier agents, that is the reason the address in St Charles is no longer occupied.

Please keep in mind, this customer has not verified half of his aqusations, I have been in this industry for 15 years, I have build many solid relationships and those of many prominant individuals in the community, and I am quite eager to provide those references.

There is no such thing as a guaranteed SBA loan, there are guidelines to follow, the problem here is that this customer had over 1mm in sales and W2'd himself, but then took large losses on his tax returns, when you do that, then suddenly report a profit after years of losses for the intent to obtain a government backed loan, the government rejects your loan.  My customer could not accept that.

We started looking at other funding alternatives, while doing this, it came to our attention that the borrower was now trying to re-negotiate his real estate contract by over 100k after he had already signed and accepted the previous contract.

As a company, we have never accepted a deposit in the amount of 20k, we ask for a small retainer just to ensure that our client is out there havingmany other banks run is credit which minimizes our efforts to getthier loan approved.

This client also mentions that we asked for $5,000.00 in cash, then he states that he negotiated and gave us a check, which is it ???

I have built a great company, and at the end of the day, we cannot always make everyone happy.

All I can ask you is that if you have questions, please call and I can provide you with solid references, in fact today I am cloing escrow for a 2.8mm Car Wash for a very proiminent member of Will County, you do not get retained by customers of that caliber.

I know the customer who has written this report, he indeed wasted a lot of mine and the realtors time, even when he insisted on meeting on Sunday mornings, when we should have been with our families.

All I can say is if you eve need repair to a commercial gargae door, do not use a plainfield based company with Blue trucks.

In conclusion, this irrate customer is being made a refund, there is a process and he will have to follow it.



Respond to this report!
What's this?
Featured Reports

Advertisers above have met our
strict standards for business conduct.

X
What do hackers,
questionable attorneys and
fake court orders have in common?
...Dishonest Reputation Management Investigates Reputation Repair
Free speech rights compromised

WATCH News
Segment Now