McAllister Lending

McAllister Lending, LLC Don't do business with McAllister Lending. Beaverton, Oregon

30th of Jun, 2011 by User116050

This company is very deceitful and will cost you money. They (as of 6/1/2011 there is only 1 person really doing loans but has 3 principals) tell people they are direct lenders but they are not and do not fund their own loans. They use Zions, Athas and other lenders that any broker can go to directly. They tell people they have been in business for awhile but check with the Oregon Business Registry and they filed on 4/13/2011. They send out email's showing closed transactions that they haven't closed and were from other companies. Their first loan closed in April of 2011 (most likely their only this year so far) yet if you see their email blasts they show multiple transactions. One of the companies they sent their email blast to noticed that one of these closed deals was theirs and made them stop using it. This is how the company is run, very deceptive. If you do happen to be foolish enough to send them a loan make sure you get everything in writing. If you don't you will not get paid what you expect and then when you don't they will say, "sorry it's not in writing ." It has happened with the only loan they closed. The broker closed a deal with the agreement of a 60% commission split. The commission on the deal was $19,000 but when it came time to pay they only paid $3,750!! Matt Raymond said he didn't promise anything only that he would pay what he thought the broker deserved. He then tried to say the broker was confused and didn't understand the difference between a rebate and commission even though the broker had been deals since 1991 and has way more experience. Also, the broker negotiated everything with the borrowers and spent 3 months on the file. The other partners said they had put a lot of money into the company and needed to recoup it and couldn't do that if they paid out more than they got. Unfortunately in the commercial lending business their are people like this who don't have to be licensed in order to do business and if they are slick and smooth talking will take advantage of people. Just don't let that be you.

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