Direct Commercial Funding, Inc Calvin D. Blake Commercial Lending Scam, Fast approval, Upfront fee within 24 hours, Commitment within 3 days, but NO c

1st of Dec, 2011 by User850285

Direct Commercial Funding, Inc. is headed by Calvin D. Blake. It claims to be the "number one commercial lender in the nation", having been in business for 60 years and lists some 20 testimonials from borrowers, and claims to have "recently funded" some 40 loans from $2 million to $10.3 billion, and totaling more than $46 billion. They issued a Commitment Engagement Letter for $18 million within one day, and wanted me to wire $27,500. within 24 hours, which I did. They issued a Commitment Letter within 3 days. Strangely, they started underwriting AFTER the commitment was issued, then wanted an additional $175,000. to continue the underwriting. When I refused, they lowerd it to $75,000. which I refused also because this payment did not ensure a firm loan commitment. Direct then issued a loan denial letter. When I visited Calvin Blake in his office, it appeared that he rents a room in suite 900 of this beautiful high-rise building, and shares a receptionist with many other businesses .I saw nothing to indicate that this company had the staff to handle the billions in loans, and Calvin could not give me the name of any borrower or any attorney who may have handled closing on their behalf for any loan. Contrary to their claim, this company was registered only 2 years ago, and its principals are associated with some 30 other businesse, none of which amounts to much. This company, and Calvin Blake are engaged in an upfront fee scam through deceptive claims in their web site, and bogus loan commitments. BEWARE OF THEM!

Track this Report 0 Comment | Post a Comment