National Fifty Real Estate Lending Co, National 50 Financial LLC, N50 Financial LLC Nicholas Satel received a $5000 refundable escrow deposit, refused to return it. he commited Fraud, misrepresentation, deceit, negligence, incompetence in mortgage financing Tampa Florida, Charlotte North Carolina

Much like what the other victim stated above, I am one of the latest victims of National 50. They took my upfront fee and never produced anything beyond that. Mr. Nick Satel says he would like to settle only to later give me an email address of his lawyer. There are just too many people claiming the same thing for it not to be true.

I wish I had read the Rip Off Report prior to doing business with National 50. I would not be out of $3,500.

However, I will ensure that justice is served.

N50's #1 goal is to make every client satisfied, as well as providing the best commercial mortgage products and service to our valued clientele.

We ask when reviewing these reports you stay open to the realization that these opinions are being expressed by anonymous individuals who are not providing any factual information; in addition will not sign their post claiming their disputes likely due to the fact that they are aware N50 will take legal action.

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This is what a fraud Nick Satel is. He can't even be honest on his Linkedin.com profile. Nick's Linkedin.com profile has changed recently. , it used to state that he worked for Greenpoint Mortgage and now has been changed to reflect a 6 and a half year stint at Countrywide, beginning 2001 and ending December 2007. However, if you google his name you will see that he was soliciting business from mortage grapevine forums in August 07 and stating that he was with Greenpoint. So Nick, which company did you work for in August 2007, Greenpoint as you so indicated on Mortgage grapevine or Countrywide as you so indicated on Linkedin.com

And on a side not, Nick, if you want to take this up in the Iredell County NC judicial court and report back their findings, be my guest! ha ha

National 50 have moved their headquarters from Tampa, Florida to Charlotte, North Carolina.

North Carolina's attorney general, Roy Cooper, is very determined to shut down companies that charge upfront fees of any kind. Consumers that believe they are victims of this man and his company need to contact the North Carolina Attorney General's office.

In fall of 2008, an officer of National 50 placed an ad on Craigslist looking for Account Executives. I called their office and spoke to someone and she represented National 50 as a lender when in fact they are nothing more than a broker.

This application was submitted through Mr. Crews representatives Emmett Haydel (Broker) and James (Jim) Wilson (Property Representative) the initial 1003 (Standard Mortgage Application) declared a liquid asset of $10mm dollars which was one of the criteria of N50 offering the LOI at an LTV of 75%. Mr. Crews failed to provide any proof of the $10mm asset therefore in turn causing deterioration of the loan.

Without proof of the $10mm asset N50 counter offered with an LTV offering of 50% which was rejected by Mr. Crews and his representatives.

*On a side note Mr. Crews provided N50 with proof of $3mm in assets 5 months after the LOI was executed.

National Fifty is taking the above mentioned matter in front of a Hillsborough County Florida court system, an update will be provided upon the judgment.

*** Just want to say I am not implying that they are stealing or their cars/apts etc. come from the LOI fees- these could be from other sources of income etc.

the only 100% fact I can verify is that they HAVE YET TO CLOSE ANY LOANS. Just an update.

I left because of situations like this. I do not believe what they are doing is right. Personally I saw tons of LOI fee's collected but NOT ONE SINGLE loan close. Their employees work on 100% commission so needless to say we weren't making anything- but somehow Nick and Jennifer can afford nice cars, expensive homes, and apartments etc. ..I am not making accusations about where the LOI fees go but it seemed a little shady. I am not saying do not go there- because that is your decision but everyone is entitled to know the truth that they have never closed a loan. If I myself were looking for a loan I would not trust N50.