- Report: #354609
Complaint Review: NEW WORLD COMMERCIAL LENDER GERMANO CARREIRA BEN RIVERA - OCEANSIDE Florida
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Author Confirmed
Why?
NEW WORLD COMMERCIAL LENDER GERMANO CARREIRA BEN RIVERA
3644 OCEAN RANCH BLVD OCEANSIDE, 92056 Florida, U.S.A.
Phone:
866-652-7202
Web:
N/A
Categories:
Business Rating:
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NEW WORLD COMMERCIAL LENDER, GERMANO CARREIRA, BEN RIVERA Liars, Crooks, Morons, OCEANSIDE Florida
I went to work for New World in florida after a REAL lending company I worked for was closed by the parent compnay. That was one of the biggest mistakes I have ever made. In my defense I have never been decieved so much. I was an account executive with a decent book of business. When New World was done with me, brokers that I had done business with for years told me never to call them again. I was screwed, my brokers got screwed, borrowers got screwed, everybody but Germano and Ben.
All they want to do is take deposits and lie. I can't believe thier lenders still do business with them. Oh yeah I forgot they are NOT A LENDER! They are a broker saying that they are a lender.
I hope they get led out in handcuffs.
Exnwclae
CORAL GABLES, Florida
U.S.A.
All they want to do is take deposits and lie. I can't believe thier lenders still do business with them. Oh yeah I forgot they are NOT A LENDER! They are a broker saying that they are a lender.
I hope they get led out in handcuffs.
Exnwclae
CORAL GABLES, Florida
U.S.A.
2 Updates & Rebuttals
Slim
Tampa,Florida,
U.S.A.
New World is a Preditor....
#2UPDATE Employee
Sat, November 15, 2008
These guys are sleeze, and I dont think any of the principals legal citizens of the US. All people should avoid these preditors of commercial lending!
New World Commercial Lender
Oceanside,California,
U.S.A.
New World's side of the story - the truth
#3REBUTTAL Owner of company
Mon, August 04, 2008
There have been several postings regarding the validity and integrity of New World Commercial Lender (NWCL). While we would not normally respond the rantings of a few disgruntled, for fairness sake we would like to clarify the erroneous claims that have been made. - NWCL is in fact a Lender, not a Broker, this is public information that anyone can confirm in fact, the loans are closed in NWCL's name. We do not however service the loans, we sell them after and sometimes before closing, like may other Lenders do. - Although our corporate office is in Oceanside California, our Account Executives are located nationwide and all of them work from their own offices as independent contractors. Although all of our AE's have gone through thorough training and are well aware of our loan programs and the lending policies of NWCL, some unethical AE's (and fortunately there have been very few) have in the past promised things to Brokers that are not within NWCL's guidelines or policies. The most common one we have found were promises of an unauthorized yield spread premium to Brokers. These unscrupulous AE's never sent in the request nor informed anyone in Corporate about it. Sadly, it is easier to blame NWCL then the actual person responsible. . . - NWCL is not in the process of filing for bankruptcy, nor anywhere near that status. While NWCL has suffered financially like all other lenders in the mortgage industry, rather than close its doors and leave creditors stranded, as many others did, NWCL has made the tough decisions it needed to make to restructure its organization and move forward. NWCL is committed to the commercial lending industry and the people it serves. - NWCL funds loans regularly and pays its Brokers and AEs according to their Agreements. We challenge anyone to show proof that we do not. - Germano Carreira is NWCL's president and founder. His knowledge in this industry is unquestioned among those who know the mortgage industry best: the investors who purchase and service mortgage loans. His only mistake has been the trust he placed in some Account Executives who have been given opportunities to work in NWCL's successful organization by misrepresenting their experience, capabilities and level of business. These AEs who have scammed NWCL in the past are now posting these outrageous defamatory statements. Specifically, an entire team of AE's who lost their jobs when the REAL lender with which they were working closed its doors, came to NWCL seeking employment. They represented that they had vast experience and a large volume of business. Based on these representations, NWCL invested in and provided them with lap tops and blackberries to help them be productive, in addition to draws against their commissions. Moreover, NWCL invested in additional office space for this team of experienced AE's. Unfortunately, their representations proved to be fraudulent. In fact, during the six months that they were with NWCL they produced just a handful of closed loans amongst all of them. Most of the loans they presented did not fit in to NWCL's lending guidelines. When they left the company after having failed miserably, they kept NWCL's equipment, ran up huge phone bills and saddled the company with debt. NWCL is out thousands of dollars because of those AEs, who now can find nothing productive to do other than take shots at NWCL on these discussion boards, without the courage to identify themselves. NWCL gave them an opportunity and this is the thanks it gets. As they say, No good deed goes unpunished. It is more common to post negative statements rather than post positive statements most of these statements are from a handful of individuals that have not contacted NWCL directly about their claims and have no proof to back their statements. If indeed they do, NWCL will gladly address these concerns. In the past we have trusted that our Account Executives relay proper information to the parties involved, but this seems to not have always been the case. Therefore, NWCL has recently restructured the Company to minimize any possibility of a misunderstanding. We strongly believe that the new system will drastically reduce the amount of misrepresentations that have been made in the past and the Corporate office now goes over every loan directly with Brokers and requires Brokers to sign an agreement regarding the fees due at closing, including any yield spread due. NWCL is in good standing as you can see from legitimate websites such as the Better Business Bureau. Unfortunately we live in a Country where people are free to say what they please no matter how true or false the info is.
