Complaint Review: Newport Lending Group

Mr Decker would like to continue to mislead the public about situation. While it is easy to mispresent items, it is unbelievable that he would misrepresent the facts completely.

I have recieved written communication recently (in the last two months) from all of the companies mentioned. Clearly related to the issues surrounding this loan. It is clear many of the same people are using different companies and nothing is as clean as CDL the broker of record.

Capital Direct Lending
American Home Lender
Pacific Investment and Loan
Pacific Investment Management Group

The loan process was formally initiated on Feb 29th, and a check for the appraisal was provided on March 1st. I have a copy of the cashed check. Mr Decker would like you to believe I didn't pay for the appraisal. Complete misrepresentation.

April 15th I was notified of the fraudulent documentation by First Fed of CA. This time period from Feb-Apr is not at all the three weeks Mr Decker claims he was hard at work. During this time there were numerous reasons for delay. The most obvious being that Decker said the loan was locked on Mar 5th, at a rate of 5.4% and 0 pts; and first Fed did not get the loan lock info until Mar 11th.

Decker openly acknowledges falsified signatures on some of the loan documents. He specifically mentions one document and would like to believe that this is not an issue as it is only the stating the loan terms. I was told that the loan was locked at 5.4% and 0 pts. The documents were forged stating a loan 5.575% and 1 pt. This difference is almost $10,000 on the closing costs alone. I classify this as attempting to fraudlently obtain money. Lastly, it is never legal to forge a signature on a document. Does anyone wonder why the mortgage industry has issues today?

Decker seems to take great pride in the fact he didn't falsify income on the loan, this is correct, but should be standard. First, it was a full doc loan with Tax Forms, second, there was no need misrepresent the numbers as both credit and income were well qualified for the loan.

The proposed loan was a first trust deed loan 80% LTV for ~$900,000. Mr Decker would like to believe the problem was the property. JP Morgan Chase provided a first trust deed loan 80% LTV for ~$900,000, four months later after property values had declined an additional 5-10% in Orange County. It seems unlikely that the equity in the property is an issue.

Mr Decker also fails to mention that he agreed to pay 1.875 pts or close to $20,000 to settle this issue. He setup a very convulated escrow process to attempt to make it difficult for me to comply with his settlement. When I fully complied with all Escrow conditions and setup the loan, he decided he didn't want to comply with his agreement. This resulted in me paying two loans on my property, until I could borrow the funds to pay the $20,000 that decker had agreed to pay. This amount was the extra closing costs as a result of not providing the loan as locked. Decker would like all to believe I caused all the issues. He clearly setup this situation.

Clearly you do not want to work with these individuals or firms.

I am a local realtor in Orange County who has worked with Brian Decker and Capital Direct Lending for over 3 years. Brian has personally closed over 30 loans for my clients since 2005. Brian is the most courteous, knowledgeable and hard working individual I have encountered in my 25 year real estate career. Not one time have I even even second guessed Brian's honestly or integrity. He calls every client I refer to him immediately, always provides a wide variety of choices and keeps promises. My clients sometimes complain because if a letter of explanation is needed he actually types up the letter and sends it to the client to be signed by them rather than just typing their name in.

He wants every client to know what is going on at all times. My client leave the experience most knowledgeable and educated than ever before. He has never once missed an escrow deadline. It is very sad how someone can just go on a website like this and slander his name. I heard about this report being filed against him and I had to speak out as I know many other will as he is a well respected member of our community. There have been many cases of fraud reported in the mortgage industry over the last few years and what we as consumers have to understand is 99% of those companies are no longer around because when the real estate bubble bursts only your referrals and referral partners support your livelyhood. I personally know 4 Local Realtors who all refer Brian Decker business and all speak just as highly as I do. I would be happy to offer anymore information. It seems by the person's post he just wanted to slander everyone as he listed three different companies and three different people. AmeriNewport is not even a company. Brian thank you for your hard work over these last 3 years and I know your referral partners will support you as it is sad how one person can just slander your name unjustly..

Unfortunatley this is the internet and clients can speak their minds without the facts being presented which is what I want to do.
This loan was worked and originated by Capital Direct Lending and AmeriNewport and Pacific Investment Management Group have no affliation in this matter at all, so why there were even mentioned is beyond me.
This loan was worked on for three weeks to the point of docs. At the Lender as a prior to doc audit the Lender reviews the appraisal. This loan was a 90% combined loan to value as the client had very little equity in the home. They were currently in a 5 year Fixed for another full year and if it went adjustable it would actually remain the same due to how low current indexes are. The client's appraisal was cut by the lender from 1.2m to $975k at docs. This was a 90% loan to value loan as I said and because of the value cut the loan was declined at docs. This is evidenced by the numerous emails send from the Bank to us and no fraud warning was ever issued because there was no fraud.
The fraud the client is claiming is that one of the intial disclosures was signed with the submission. That is the fraud he is claiming, not fraudulented income, asset or any other type of documentation. He is stating an initial disclosure submitted before the loan was even approved was signed. That is the identity theft that took place. In my opinion identity theft is stealing someones identity to steal money, to take out credit cards or for some illegal purpose. How this caused $20,000 to $30,000 in damages is simply outrageous. I appreciate this types of listings but it just shows everyone how exaggerated things are. There was no fraud ever committed on this file. These $20,000 in damages he is stating is the difference in monthly payments over the LIFE over the loan due to the higher interest rate he took with ANOTHER BANK after his loan was declined at our Lender due to value. This higher rate was due to an interest rate increase from Feb to July in market rates and the client not wishing to wait until he actually needed to refinance in May of 2009. The clients loan currently if it adjusted in May of 2009 would actually go lower due to the current LIBOR and MTA indexes. The client just rushed into refinancing with another bank after his file was declined instead of waiting and watching the market. Rates are now .75% lower than his current rate he just got. These damages were not in any way caused directly by Capital Directly Lending, they are the difference in monthly payments paid over the life of the loan for the client refinancing at ANOTHER bank after his loan was declined. These damages were self imposed. The client sustained no damages from us we even PAID for his appraisal. No fraud was committed which is exactly why Capital Direct Lending has never been served, this matter is 9 months old. We maintain high standards and an excellent customer service rating. I myself was just awarded my Real Estate license two weeks ago which would have not been granted if there were numerous cases of fraud reported. We were recently given FHA approval in all 50 States which would not be granted if we were a company who was committing fraud. FHA loans are federally secured. We stand by our work and apologize to those other companies who were so wrongly brought into this situation by Brent.