PRIVATE MONEY ASSOCIATES/ASSOCIATES APPRAISAL GROUP MIKE FLYNN/PMA, MARK R. ST.GEORGE, RAINEE MacELVOY, MARIATERESA V. CANOSA HARD MONEY LENDER AND APPRAISAL SCAM STUDIO CITY Internet/FL /CA
This report is on two companies working together to scam brokers and borrowers in real estate hard money transactions they cannot close. While referring the loan brokers and buyers to buyers appraisers that are unlicensed and fraudulent. The parties are Mike Flynn which maybe an alias for Nick St. George and Mark R. St. George. Private Money Associates/Mike Flynn indicates that they can deliver great rates and terms for hard money asset based loans. They send over terms and LOI as if they can deliver the loan. The borrower executes and is moving forward with PMA. Then, in turn PMA mandates loan broker to use their appraiser Associates Appraisal Group/Mark St. George. The appraisal is paid for upfront by the borrower. Upon receipt of the appraisal the licenses on the appraisal were expired and or fraudulent. The lender tells you the appraisal is fine but when it is time to fund the loan the lender cannot perform.
At this point, the lender will not respond to the loan broker or escrow. The appraisal is fraudulent with forged, revoked and expired licenses of all parties affiliated with AAG. The appraiser now will not respond to calls toget your clients money back. In speaking with OREA in CA, there has been several complaints against Mark R. St. George and Nick St. George. They wish more people woud file criminal complaints against these people to make them accountable. This is a scam to get appraisal fees upfront, never complete the appraisal or submit a bogus appraisal and never fund the loan.
These people have to be stopped because it is a bad mark on the lending and real estate community.
3 Updates & Rebuttals
Mariateresa V. Canosa
Vallejo,California,
USA
Nothing fabricated
#4UPDATE Employee
Tue, August 11, 2015
I do not know this person. I never did any work for him. I did not do this appraisal. I did not collect any fee from him or anyone for this appraisal. I am a residential appraiser, with a valid license. I did not appraise the commercial property that is the subject of this complaint. I have not fabricated anything.
I did not know anything about this until the day that I rececved a phone call from a complete stranger, who demanded a refund of a fee that was never paid to me.
Mariateresa V. Canosa
Vallejo,California,
USA
appraisal
#4REBUTTAL Individual responds
Mon, August 10, 2015
I had nothing to do with this. I am a Certified Residential Real Estate Appraiser. The appraisal in question regards a commercial property that I have never seen or heard of, in a place that I have never been to or heard of. Recently, I received a phone call, out of the blue, from a person I did not know, threatening to destroy my reputation unless he got a refund of $1800. I found out later that he was a "Straw Buyer" whose loan had been turned down because the lender discovered that he was a "Straw Buyer" for his uncle. He had paid a fee to AAG for an appraisal of a commercial property, (which was not done by me) and was angry because it was useless, since the loan was not approved. He demanded a refund of the appraisal fee, which AAG declined. He was calling everyone he could find who had ever done any work for Associates Appraisal Group & threatening them & demanding money.
AAG had previously referred some residential work to me. This man was very angry & he wanted me to persuade AAG to give him a refund & said he would include me in his complaint, even though I had nothing to do with this, unless either I gave him the money or persuaded AAG to give him the money. He wanted a refund & he did not care how he got it or who he had to threaten to get it. I had never collected a fee from him, for anything & I did not know him. I had never met him or even spoken to him before. I did not even know his name & I knew nothing about this commercial property he was trying to buy. I had nothing to do with this. It is not fair to damage my reputation over somebody else's dispute about a fee that I never collected, for work that had nothing to do with me.
I can't pay total strangers who call & threaten me "give me money or I will ruin your reputation." Please take my name off this complaint, because this is not fair.
Canosa Rebuttal Completrly Fabricated
#4Author of original report
Sun, June 21, 2015
Ms. Canosa rebuttal is completely fabricated and she I'd definitely part of this scam. I have proof of her signature and license attached to the bogus appraisal. If anyone is bring scammed by this company please report them to the department of real estate appraisals as O have done. The OREA is very aware of these people and would like to pursue criminal charges of enough people complain. Also, their intent is to revoke the license of these individuals. It is a shame that Ms. Canosa got herself involved with these people. But, you should know how your license is being utilized and how. When confronted she the exact excuse that OREA indicated she would refer to. Therefore, she was well aware of this sc and I have proof with name and license attached to the appraisal. Please do not be scammed by this company or these appraisers. REM Los Angeles, CA