Complaint Review: International settlements inc - norcross Georgia

Since I cannot remove my initial post in defense of Will Turner, owner of International Settlements, I HEREBY FULLY RECANT MY ORIGINAL POST. It turns out Mr. William Turner is NOT a lender. He issues LOI's and collects LARGE upfront fees from clients. I'm not aware of ANY recent fundings. Save your money - stay away!

Well, I did not post a rebuttal since Mr. Turner indicated willignes to settle the matter by providing accounting of the expenses incurred by the third parties  and refunding the difference. The reason he failed to act is because we asked him for proof of payments along with copies of the alleged market analysis and title report. Since there were no expenses paid he did not respond. So he clearly showed that he is a fraud, one man boiler operation ( by the way the adress he prints on the letterhead is not the actual adress). A legitimate lender will show all of the work, and should the value of property came in lower, will adjust the loan parametters accordingly. And if I could not accept the lower loan offer, he would have earned his fee.

In meantime, Charlie Cartchner, the other broker, who defended his partner in crime, has not posted any loans that he said are ready to fund.

Come on Charlie, how many loans did you close.

Last known adress for International Settlements was 555 Sunrise Blvd ( assuming he hasn't changed it yet)

Mr Alili your forelclosure and tax problems are a matter of public record. You are a deadbeat with no integrity looking to blame my company for your problems. Mr Alili is obvioulsy broke as he was offered his full file and accounting yesterday by our processors and refused saying he wanted $4500 plus interest. This man does not care if we worked on his file or not he only wants to extort funds to which he is not entitled. His property was listed publicly for sheriffs sale and he looks to minimize his embarrassment by slandering others. We will be serving papers on you Mr. Alili forthwith for slander and harrassment in excess of $1,000,000. I told you to tread lightly. You will get all the fight you can handle now.

I am working with charlie kartchner today to get will to send the paperwork

--- Original Message ---
From:
Sent:Thu 8/19/10  12:54 pm
To:[email protected]
Subj:turner
Mr Kartchner,
Look up word slander, then threaten me. First of all, foreclosure does not mean 
one may lose the property. There are ways to work out the problems, and I am working it out
without liars like you. For one, you were not present and were not listening to the conversation
I had with Turner, so posting what was said when you were not present is a LIE.
Second, Turner texted me and said that you are begging him. I can post the text here.
Although you begged him, you have not seen any proof of any work done ( see the E mail above).
Also, before you unleash your tirade of lies, read the first response that Turner put up
He admits that only one in 10 loans closes. Do you disclose that to your
clients. Did you tell me " Send Turner $ 4,500 and you have 10 % chance to close the loan?)
How many customers will you have if you disclose the success rate ( did you tell your
other clients that Turner only closes 10 % of loans).
Did you actually visit ISI office, talk to a loan processor, a loan originator, closer or underwriter?
Did anyone answer a land line? Did you wonder why 90 % of the time phone goes 
to voice mail? Why would a successful lender always answer the phone himself?
And no, I don't know you got a cut, but I do suspect. After all Turner will not account for
any expense, even after you "begged " him.
And I can assure you that you won't close a loan with ISI
And you ought to know the difference between a Broker and A Lender
Also: Charles Karthner, you are a person with no integrity. You may check with
your attorney the consequences of disclosing confidential client information.
I hope your clients see who they hire and where their information may end up.
I don't expect any ethics from you, but you should think about legal consequences
of disclosing client information.
Do you get who should be careful, Charlie
And as for Turner, all you have to do is proof any expense, show the title co and proof of
payment.  Also, Charlie, I was hesitant to send the money because Turner was insisting
I send it before he goes on Vacation, since everyone from his office was in 
South Africa for the world cup. The world cup is over and no one has returned 
to the office.
I am eagerly await for you to post when you close a loan with ISI
In the meantime, you post my confidential info we will see who will be sued for slander, not to
mention reports to the regulatory authorities.
Are you up for it?????

Dear Mr. Alili,

It appears like you are begging for a slander lawsuit. I guess losing your property to foreclosure is not enough financial distress for you.

I received absolutely NO COMPENSATION from your loan request / retainer fee. Ziltch, nada. I understand you are unhappy that your property is only worth $1.2M and you passed an opportunity to sell it for $2.5M. I completely sympathize with you. But please refrain from making accusations that are completely untrue and unfounded.

Thank you.

Facts are that Mr Turner did not provide any accounting for the "work"done
He did not provide a copy of title work, and yes every title company that pulls a title work will send a copy to the borrower. Mr turner claims to be a lender, but has no office, no loan originators, no loan processor, and only a cell phone. If you try to call the land line, goes straight to cell phone. He is a broker that may have gotten lucky once or twice. So Mr Turner, show us the money. Show the market analysis from "the underwriter", with a name so it can be verified. Show the receipt , with date from the title company, with report and payment verification. You claim $1,000 for appraisal review, yet no appraisal was ordered. You promised to the broker to forward him the file with proof that was worked on, but you did not. You can't provide anything that you don't have.

As for the other broker, he bugged me everyday until I paid Turner ( my bet is he gets a cut). Good luck closing a loan with Turner, I will look for updates and see when that happens. Below is the E Mail that Turner send to the other broker ( who got on the middle and is not part of the scheme with the broker that posted here.

These false claims against Will Turner and his company, International Settlements, can be summed up quickly - the current market value for the subject property is less than 1/2 what the owner *hoped* and represented it to be. The above post, in addition to being complete slander is nothing more than an angry man losing his property to foreclosure and searching for someone, anyone, to blame for his unfortunate circumstances.

I am one of the brokers involved in this transaction and would like to set the record straight on exactly what transpired with this hard money commercial loan request. I was contacted by another broker who has been working with this owner for almost a YEAR to try and get his property refinanced in order to avoid an upcoming foreclosure sale. The other broker involved in the transaction presented me with a current market value of $2.6M for the property and a letter from the local redevelopment agency, dated *2006*, showing an offer to purchase the subject property for $2.5M (rejecting the owners unreasonable request for $5,500,000). Due to the property's proximity to the beach and a large casino, Will Turner after reviewing the documentation provided agreed to issue an initial LOI for a loan of $1,150,000 subject to the loan amount being no more than 65% of current market value. A retainer/underwriting fee of $4,500 was due upon acceptance of LOI. The owner, presumably knowing well that his property would not come in at a current value anywhere near the required $1.8-$1.9M minimum, was very hesitant to engage. The owner requested that he initially only pay the site inspection fee of $1,500 to determine if the condition of his property was acceptable. After the other broker involved in this transaction pleaded with Will Turner to accept this revised condition from the owner, Will Turner reluctantly accepted. That was then not enough for the owner. The owner now wanted only a 6 month interest reserve rather than the 12 months that was presented to him in the hopes he could quickly do a conventional refinance even though his credit score was in the low 500's due to the foreclosure issue. Again, Will Turner reluctantly conceded to this request at the pleading of the other broker.

A site inspection was performed and it was acceptable. The remaining $3,000 retainer/underwriting fee was now due and the owner dragged his feet for weeks getting this payment submitted. Upon finally receiving this payment, the market study analysis was ordered and performed and returned a current market value in the range of $1.2M for the subject property. Numerous appraisers were contacted by the other broker and none were able to find ANY comps to support a higher valuation. Upon relaying this information to the owner and stating an appraisal would need to be ordered if he was interested in proceeding the owner became enraged and verbally accosted Mr. Turner with language not suitable for this forum. The bottom line is everyone involved would have made a great pay day (much more than $4,500) for getting this loan completed. Unfortunately, as with many property owners in today's market they believe their property is worth substantially more than anyone is willing to pay for it (or current market data can support).

Rather than slander Will Turner who literally bent over backwards to accommodate this client, he probably should have accepted the $2.5M offer in 2006 (when he thought he should get $5.5M) or make his mortgage payments. I personally have numerous commercial loans, much larger than this one, placed with Will Turner which are moving along smoothly and are scheduled to close in the coming weeks. Once they successfully close, I will return and post an update.

Mr Alili let these facts speak for themselves. You earn more than enough to pay your mortgage yet you choose to force your lender to chase you because you'd rather pocket the money as profit. Why would anyone loan you money now? Do you beleive it would be the goal of any lender to bail you out of your foreclosure woes just to be screwed by you refusing to pay your mortgage again. Any one reading this is welcome to do a google search on Redzep Alili and see that this person not only does not pay his mortgage he fails to pay his taxes as well. He can pay $4500 to try and refinance to start his clock ticking again and pay his bills with other poeples money but he can't find it in himself to take care of a $4500 tax lein. My company offered to help you above and beyond the help anyone else would have given you but it is obvious you just want someone to blame for your own financial ineptness or you just need to point the finger at someone else in attempt to hide the fact that you're a thief. All documentation submitted by you was reviewed by third party underwriters who charge fees for thier work, The site inspection and market analysis were done by a third party company who charges fees for thier work, it costs money to do a title pull and no my title company is not going automatically send you a copy. Your own broker attempted to find comps to support your value claim and he told you time and again the comps arent there. Accept the fact that your property isnt worth what it was worth 4 years ago and stop trying to blame everyone else for misfortunes you've created for yourself.

I am Will Turner of International Settlements Inc. In this tough financial climate it is impossible to make every potential borrower happy. One deal in 10 is the average closing ratio of any commercial lender in this market. Most do not close due to gross misrepresentation of the project by the client. That is why fees are collected and due diligence done at the borrowers expense. Mr Atlantic City owns a pizzeria and an adjoining lot. He was looking to refinance the parcel for $1.8 million dollars. As proof of value he submitted an appraisal and a purchase offer from Trump Casion for 2.8 million dollars dated 2006. We requested $4500 for a market analysis,credit and title pull and travel expenses for a site inspection. We never told him that would cover an appraisal. The LOI was issued in March. The borrower did not engage us until July. After engaging he then mentions he's in forclosure and his property is going to sale in 3 weeks. When the market analysis came back the comps only supported a value of 1.2 million. He hemmed and hawed and was told we would engage a local appraiser at his expense if he truly believed the property was worth the near 3 million he claimed it to be worth. He refused. He told me he would then file chapter 11. I offered the services of my attorney at my expense to file his 11. He refused. I offered debtor in possession financing he again refused and said we robbed him for $4500. At that point we cut off all communication. Through our due diligence we learned that not only was the value not there but that the property cash flowed sufficiently to cover the current mortgage with a handsome profit. This borrower chose not to pay his mortgage and pocketed the funds. This person of low integrtiy now looks to blame everyone else but himself for his problems

Will Turner

ISI