- Report: #375865
Complaint Review: Spectrum Financial - Baltimore Maryland
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Author Confirmed
Why?
Spectrum Financial
400 East Pratt Street Baltimore, 21202 Maryland, U.S.A.
Phone:
443-759-3221
Web:
N/A
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Business Rating:
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Spectrum Financial Fairfax Land Sale Took $5,000 Baltimore Maryland
The individual represents himself as the president. He spoke with my clients on a conference call and assured they were not the type of company that would take someones money and not do anything. So they sent $5,000 to Spectrum. Here we are 45 days later and nothing has been done. When you call the "office" a receptionist answers, however no one is ever in the office to speak to. Aaron's cell phone goes into voicemail and you never get a return call. Not one person has ever called to ask for documents or have any questions regarding the file. They just took the money and ran.
Broker
national
U.S.A.
Broker
national
U.S.A.
1 Updates & Rebuttals
Prez
USASpectrum Financial is an Honest, Credible Lender that has closed many transactions.
#2
Wed, September 16, 2009
SF continues its commitment to funding loan transactions. However, we can only fund loans based on the current market as-is value of the property.
The fee referenced in the post was applied towards due diligence costs, commitment to funds, underwriting, and legal costs. Unfortunately the market has taken a substantial hit in the wake of the sub-prime crisis and demand for properties has slowed down, therefore driving as-is prices down. As lenders we always have to focus on current as-is market conditions. The borrower believed that his property / location was not affected by the crisis and was thus left upset with the resulting evaluation. This process took two weeks and an offer was issued, based on the current as-is value of the property. This company is built on integrity and exceptional customer service which was provided during this transaction.
