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Commercial Lending Capital


Awful company

Complaint Rating:  78 % with 9 votes
78% 9
Contact information:
Commercial Lending Capital
United States
CLC should change it's name then no one know it you, then you can move on to scam more people, but when you make enough quick money then you should move away to enjoy it before you are in real trouble with the law.
Complaint comments Comments (24) Complaint country United States Complaint category Products & Services


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D  14th of Jul, 2009 by    -2 Votes
Really? I just did a search for Commercial Lending Capital on Google and found this. What a load of crap? There's nothing to base your claim off of. I did a search on Yahoo, MSN, Bing and a few others and none of this malarkey showed up. There's nothing of value here.

I'm a business owner. When I need to utilize the services of a company I do thorough research on a company to see what's being said about them. Yes, there are a few bad posts but look at where they're coming from? The owner of this website (https://www.complaintsboard.com) is the same scammer from /link removed/ Now if you want to know how valuable THOSE websites are, do a search in ANY search engine to find out what they’re really doing to business owners. It’s appalling.

If you're that interested in CLC, search for them through another search engine and see what's being said about them. I guarantee you that if you stay away from scam sites like ripoffreport and this one you'll actually find valuable information where people have (at least) had the decency to write somewhat constructive criticism.
N  14th of Jul, 2009 by    +1 Votes
The person that wrote the above comment is not real. There is no Tom Reynolds. It is actually Nicole Ferguson whom is the COO of CLC. What a load of crap this person. This is the art of CLC. They rip people off then spin that it is your fault as the broker then they lie and deceive more by acting as if they are another broker and court public opinion. What caniving rats they are!!!

Trust me they will simply rip you off so they can stay afloat repugnant con artists to the highest degree!!!
A  19th of Jul, 2009 by    0 Votes
I Agree we used them in 2008 4 clients same bull ### they scam to scam. They love DD fees...there reputation in the industry is horrendous..there day in Court will come. Especially the arrogance of Nicol and Scott Oakley the owners...a Lot of consumers are pissed off they steal your $$$
without a gun. I hope they do time!!!
A  19th of Jul, 2009 by    +1 Votes
A  22nd of Jul, 2009 by    0 Votes
N  24th of Jul, 2009 by    0 Votes
I would be interested in detailed information from CLC customers regarding their experience with the company -- whether positive or negative -- for the purpose of evaluating a matter that I have been asked to review.

I have no opinion with respect to the company personally.

If you would be willing to speak with me in confidence on a non-disclosure basis, please provide me with information sufficient to get in touch with you.
A  29th of Jul, 2009 by    0 Votes
I agree 100% with all of the negative statements said about CLC. It's ridiculous. Fairminded, if you would like, I can put you in touch with a client who lost $20k in DD fees and no third party reports were ever ordered, nor was the loan approved. I would only do that if you have a specific agenda against CLC like if you were building up a case against them in court.
N  6th of Aug, 2009 by    +1 Votes
Hello everyone! My name Ru and I'm based out of Colorado. My client and I just had a horrible experience with Commercial Lending and they kept a couple thousand dollars. We are getting ready to fly out to Riverbank to meet with the owners and some Attorneys. My client is and will be proceeding with Legal Action. If you would like to give me your story and possibly help with this future case please email me at rramirezjr34@yahoo.com you can also reach me on my cell phone 720.212.9433


N  16th of Aug, 2009 by    0 Votes
First let me say that I am a reputable, licensed mortgage broker in Virginia. I manage a branch office of a California-based mortgage company and I have done several commercial and business loans.

In early February 2009, I engaged Commercial Lending Capital (“CLC”) for a rate/term refinance of a commercial office building (multi-tenant) that my clients owned in Austin, TX. Scott Ferguson, Business Development Mgr. initially indicated to me in writing that CLC was a “direct lender” who drew its own documents and funded in its own name (however we were never able to obtain confirmation on this). We submitted the application, financial statements, CLC submission form, etc. and within 48 hours we were given a Term Sheet / Letter of Intent (LOI). The loan program was very good, and Rick Ford, Pricing Mgr. told us in writing that the average processing time to close the loan would be 45 days. Based on these representations, my clients wired the required $14, 787 advanced deposit on February 15th, 2009 Scott Ferguson also told us in writing that if the loan did not close the remaining deposit would be refunded to us, less any applicable third-party fees and a due diligence fee of approximately $2500. In fact, none of these claims turned out to be true, and after the “drama” began, Scott Ferguson completely stopped responding to my emails and calls.

Even though my clients had stellar employment/income/asset/credit credentials, it took CLC almost 60 days to get through the financial phase of the approval process. Responses to phone calls and emails were spotty, and sometimes non-existent. Then during the first week in April 2009 we finally received an email from a processor that all “prior to appraisal conditions” had been cleared, and that we would be contacted when the appraisal was received, normally taking three to four weeks. It should be noted during the preceding two months, I made five requests to CLC to use an MAI Certified appraiser, and none of these requests were answered. After three weeks of not hearing from an appraiser regarding entry into the building we became suspicious and this is when we first discovered numerous complaints about CLC with the Better Business Bureau and on-line at various websites, regarding CLC’s business tactics, and apparent track record to keeping clients money. I made an effort to ascertain the validity of these complaints, but was unable to confirm them.

After several inquiries into the status of our loan, CLC called us at the end of April 2009 stating that they had ordered (unknowingly to us) a Broker Price Opinion (BPO) report, (which is a $500 drive-by version) instead of a full summary commercial appraisal. This BPO report valued the property under $1 million, compared to our estimated of the property being worth $3.5 million dollars. Upon further examination of the BPO report we discovered over thirteen gross mistakes, including missing entire sections of the building and land. We strongly refuted this report, again expressing our disappointment over the entire proceedings. Mr. Clinton Davis, Director of Operations attempting to defend the BPO report as accurate.

Amazingly to us, and as a result of our demand for a full appraisal, CLC then went back to the same company and ordered another BPO report which took another three weeks.

Although this report had many of the errors in the first report corrected, the value was still far less than what we had estimated, and was around $2.1 million. We counted nine gross errors in this second report. We wrote another letter to Scott Oakley, the President, who again didn’t responded to us. At this point, Nicole Ferguson, Chief Operating Officer, responded to our letter and defended CLC’s actions and the BPO reports as being accurate. When I attempted to ascertain if CLC was in fact a “direct lender”, Ms. Ferguson, was evasive and refused to answer my question, claiming it was a “trade secret”.. This gave us a clear indication that something was wrong, because every lender I know would gladly give this information to us.

On May 21, 2009 we then demanded in writing again to Scott Oakley, President that CLC order a full summary commercial appraisal, as we had in-fact paid for this in advance; but again Ms. Ferguson answered our request. It should be noted that Ms. Ferguson’s responses to me were rude and condescending, and she copied my clients on these emails. CLC then ordered a full appraiser from Lewis & Howard, a company whose primary business is tax assessments for attorneys. The appraiser himself stated to us that he had not worked with a commercial lender in twenty years. Lewis & Howard valued the building by net rental sq. footage (common in office condos), instead of gross sq. footage, which is more common in multi-tenant office buildings. They also inflated the expenses, including adding a fictitious management expense of 3%, when in-fact one of my clients maintained an office in the building and managed the property himself. This appraisal was $2.25 million, still substantially less than our estimate. (By comparison, the existing lender for the building had done an appraisal in January 2008 of $2.25 million. This appraisal was immediately after renovation and with the building still only occupied 47% and approx. half the Net Operating Income of that on the application sent to CLC and to Lewis & Howard)

What happened next is unbelievable. CLC then cancelled our loan, sent my client a bill for $75, 000 which included a 3% CANCELLATION PENALTY ($67, 585) and a WHOPPING $16, 000 PROCESSING FEE, claiming that we deliberately misrepresented the value of the building, and that the DSCR ratio was far less than we had told them! It should be noted that CLC’s own Submission Form states “Estimated Value”, and that we obtained this value by professional opinion from BulsHodge Consulting, and reputable commercial broker with offices in Dallas, Houston, and Austin, TX.; and that CLC had also been given a copy of the Rent Roll with the initial submission of the loan package in February/March 2009. We backed up the Rent Roll with Leases and Bank Statements. Additionally CLC made no attempt that we are aware off, to ‘”broker” the loan to another lender, but instead immediately cancelled the loan, and sent us the cancellation letter.

My conclusion based on these actions is that CLC’s intention all along was to find a way to cancel the loan and keep my clients money, by either disqualifying my client or the property itself, and that the complaints on-line are true, and that the Term Sheet/LOI was generated based on a fictitious loan program, and is designed to trap cleints and keep they're money.

I cannot comment on what action IS being taken at this time, except to say that I will NEVER use Commercial Lending Capital (CLC) again. CLC was not honest with us regarding critical details of the process, their lending relationships, or intentions. Ms. Ferguson was rude and insulting to me and my clients. The cancellation letter we received was from CLC’s ”Loan Cancellation Department”, which by itself sounds very suspicious to me. (I don’t know any lenders that have a “Loan Cancellation Department”!)

This report is true and correct to the best of my ability and belief, and any response on the part of CLC to this report, will be nothing more than an attempt to twist or discredit these facts.
A  25th of Aug, 2009 by    0 Votes
I agree CLC is a scammer Scott Oakley is not right. Greed=deceit=lies

I agree 100% with all of the negative statements said about CLC. I can put you in touch with a client's who lost $20k30k in DD fees and no third party reports were ever ordered, nor was the loan approved. I would build up a case against them in court.
A  27th of Aug, 2009 by    0 Votes
That place is a complete joke. I made the mistake of going to work for them for all of 3 and half days and couldn't believe what I saw. From the people that work there and the new people they hired(weird and interesting to say the least) to the way they conduct business. I've been in the mortgage and real estate industry for 9 years and have only run into about one or two other places that were as big a joke as them. Any those Account Specialists or Account Executives that hound you like a telemarketer. ...They hire people with absolutely no experience whatsoever and bam, your an Account Executive! People in my "training class" consisted of ex gas station attendants to telemarketers to some guy who worked for Best Buy. Out of I believe it was 14 or so people only two of us knew what a 1003 was!

They issue letters of intent or approvals(whatever the hell you want to call them) without ever reviewing any financials at all and ask for these huge upfront fees that are non-refundable without even having any clue whether or not the client will even qualify for a loan at all.

LOL just thinking about the clowns that work there makes literally laugh. Oh and everyone has a big title, they have like 10 VP's of everything you can think of. I don't know if it's actually 10 but it seemed like everyone besides the new hire group was a Vice President of something. The girl at the front that answers the phones(receptionist) is "Vice President of Customer Relations" I think it was. And the girl who makes copies and coffee is VP of some ### or "Executive Assistant."

And they all talk a big talk about how much money they make too. If you're making 10 or 20 grand a month or whatever you want people to believe you don't drive a 10 year old beat up Honda to work and look miserable all the time. They're all lairs!

Don't do business with them or EVER, I mean EVER get suckered into working there.
N  27th of Aug, 2009 by    0 Votes
I completely forgot to mention the fact that they're breaking all kinds of labor laws. They require to be there at a certain time, clock in, clock out for lunch, clock back in after lunch, and then clock out at the end of the day, give you a desk, phone and computer, and try to insist that you're an independent contractor and refuse to pay until you get your first upfront fee collected! That could take a long time considering they're "warm calling" as they like to call them, numbers list is completely outdated. One guy told me actually got a porn hot line when he thought he was calling a brokers 800 number.

I just can't believe they haven't been sued by one of their own employees.
N  27th of Aug, 2009 by    0 Votes
Oh, not employee, my mistake. INDEPENDENT CONTRACTOR. Another lie, they don't have 100 employees, they might have 20 to 30 people working there and almost all are independent contractors. Just thinking about those clowns pisses me off.
A  2nd of Sep, 2009 by    0 Votes
All I can say is, thank goodness for this website! I received an email from their Human Resources Department requesting an interview. I scheduled the interview, but did some research first to find out about the company. I checked several sources, including the BBB. I also stumbled on a link to Scott Oakley's son's personal website, which is an interesting read in and of itself. After an hour or so of VERY interesting reading, I promptly sent CLC an email, saying I wasn't interested in even INTERVIEWING for a company who has such huge credibility issues. Sheez!
A  10th of Sep, 2009 by    0 Votes
I am an ex-employee of CLC with a mission to shut them down. Anyone wanting to make a contribution to this effort, please contact me, cbat67@yahoo.com. Provide your contact information and I will only too happy to respond.
A  14th of Sep, 2009 by    0 Votes
I agree with rg leaves up there - thank godness I came across these blogs and did some research before hand on these dirtbags/ bogus company. I went in for an interview with Paul Colvin (some HR/Account executive...or some bogus title like that). The minute I walked into the lobby, I confirmed this shop was a scam. This guy (Paul Colvin) seemed like some one just released from prison too, he had prison made/faded tattoes on his fingers and that made the interview much creepier (sorry guys but sometimes you do have to judge a book by its cover). He was telling me how people there made all kinds of money, and that the sky was the limit. Poeple there would win big screen TV's, cars, paid trips to all kinds of places and in my mind I was thinking...well yea from all these brokers the've enjoyed ripping off. He was impressed by my 10+yrs of experience and woking for reputable banks and lenders. He wanted me to come aboard that instance...I was like, let me think about it and give you a call back later- obviously that will be a NO call back. I also certainaly don't want my career tarnished by working for this ripp off company. Again thanks for the advice and DON"T GET DUPPED into working for these creeps.
A  11th of Oct, 2009 by    0 Votes
It will only be a matter of time before Scott Oakley, Nicole Ferguson, Leighanne Brown, Clinton Davis, Rick Ford, Kevin king will all be in jail for ADVANCED FEE LOAN FRAUD
A  17th of Mar, 2010 by    0 Votes
Hello Everyone,

Great news! I just got off the telephone with an attorney at Branton & Wilson in San Diego, CA. His firm represents two gentlemen who were swindled out of a whopping $106, 000.00 in up front fees collected by Commercial Lending Capital. (we all know the story)

These guys finally had their arbitration hearing on February 23rd, in Orange County, and the decision was just received, today, 3/12/10. The victims were awarded a full refund of their deposit of $106, 000.00 + treble damages of $324, 000.00 + attorney's fees of approximately $100, 000.00, WOW!! Who wouldn't like to be a fly sitting on the walls at CLC about now?

This judgment is a result of statements, testimony, and evidence contributied by many of you out there. Let me say THANK YOU! We are making progress towards final justice for every victim.

Please be encouraged by this news and know that this decision is being forwarded to law enforcement. I expect it won't be long, before we see the CLC gang in matching jump suits.

Note: They have moved thier office from Riverside to Corona and they are now targeting the residential market. They may be using a company name of Commercial Loan Processing or Processors, make no mistake, they are the same company.

I will continue to keep you posted.
A  7th of Apr, 2010 by    0 Votes
I have lost $6190 application fee and over $50000 through wrap around note because unable to secure financing

Best Regards!
Chris Simon
A  7th of Apr, 2010 by    0 Votes
I have lost $6190 application fee and over $50000 through wrap around note

Best Regards!
Chris Simon

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