Complaint Review: Real Estate Capital Company - Charlotte North Carolina
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- Author Confirmed
- Real Estate Capital Company 14825 John J. Delaney Dr, Ste. 240-11 Charlotte, North Carolina U.S.A.
- Phone: 704-369-5072
- Web:
- Category: Mortgage Companies
Real Estate Capital Company Do Not Trust This Company - Beware - Circumvention Issues Darryl Boukedes North Carolina
* : False Assertion is clarified
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DO NOT SEND DEALS TO THIS COMPANY!
THEY WILL TRY AND STEAL YOUR BUSINESS!
THEY DO NOT HAVE THE ABILITY TO FUND LOANS AND ARE IN BUSINESS TO STEAL YOUR HARD EARNED REFERRALS!
BEWARE.
Do not use or broker deals to Real Estate Capital Company out of Charlotte, NC. I work for a commercial financing company out of Boston, MA. I get numerous commercial deals and am constantly looking for companies and groups willing to lend on deals from $5m - $100m. An important part of this business is being able to trust the lenders that we send deals. Trust is imperative since the lenders look at and evaluate extremely sensitive financial information that we send them.
After sending two complete packages of deals to this company. Real Estate Capital Company got back in touch with me and said they can offer financing, but the rate would be 11% with 5pts upfront. Needless to say my clients were not very happy about the terms presented so I naturally continued to search for better terms. Three days later I got a call from my borrower and he asked me who the hell is Real Estate Capital Company because they just called him and tried to offer him financing - without even notifying me. The odd thing is that I never even gave the lender my clients number, they found it by searching my clients management companies website.
The lender went behind my back with the sole intention of taking my client. In the broker world this is a complete breach of conduct and is only practiced by the worst type of scumbags. If you have the unfortunate situation of trying to get a deal financed through this company make certain that you do not give them any information whatsoever about your client or your clients company because they will try and steal your business. There are much better companies to work with and as a broker we have enough worries and hassles each and every day than worrying about whether or not we can trust the lenders we send deals to.
M.
lexington, Massachusetts
U.S.A.
This report was posted on Ripoff Report on 07/09/2009 05:04 PM and is a permanent record located here: https://www.ripoffreport.com/reports/real-estate-capital-company/charlotte-north-carolina-28277/real-estate-capital-company-do-not-trust-this-company-beware-circumvention-issues-darr-468024. 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
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#1
False Assertion is clarified
AUTHOR: RECC - (USA)
SUBMITTED: Tuesday, August 11, 2009
Real Estate Capital Company ("RECC") is a conventional commercial lender with published rate sheets. Further, the company is a unit of a federally chartered bank which means the company is regulated. RECC's loan programs carry interest rates well below 8% and we offer rebate on loans. RECC only charges a lender fee on HUD and FNMA loans (max 1 pt). Further, RECC does not lend to borrowers directly as the company is a wholesale lender. Lastly, the company does do not contact borrowers directly until a loan is in process and the referring lender or broker is fully protected. Your assertion is blatantly false.
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