[MTGPOLICE]

Yes, recently dealt with Private Commercial Capital and received the run around for a few weeks. William Borman (Managing Director) & David Pell (Underwriting Managing Director) are the two points of contact through two different email addresses: lender@privatecommercial.net and underwriting@privatecommercial.net. William Borman is constantly referencing his general parameters when requesting status of file, and when it came time for the underwriting decision by family loan committee...it was based on economic factors that were already known prior to issuing Letter of Intent (LOI), which should have never been issued. This private funding resource (which may not really fund deals) advertises incredible loan terms, which I've now realized are too good to be true. Myself and client are now upset that underwriting / due diligence fee of $3,400 is non-refundable, especially since due diligence in underwriting was not provided in its entirety. I do NOT recommend sending any files or wiring funds to this outfit portraying themselves as a private lender, since their reason for denial was very generic boilerplate feedback that can be provided on any file, and not specific to our project. We've learned a hard lesson from this experience, and hope this post helps to prevent others from going through a similar experience.

There is only one person behind all of this. The underwriting reports are fake and the same ones are used on almost every deal. They've NEVER closed a loan and have been scamming people for over 10 years now.