McMann Commercial Lending
Rental Property Investor · Los Gatos, CA · Member since 2017 · 123 posts · 131 votes
McMann Commercial Lending
Most Popular Reply
Member since 2023 · 6 posts · 5 votes
3yI’m going through the same story. 180 days today and still nothing. I asked numerous times the name of the bank who’s supposedly issuing this loan, I asked for the name and contact info of their attorneys, I asked to see the beloc application with the bank…. Never would they provide me anything. They are always on a conference call and never have a update when it will funds. Multiple times they gave me a funding date but it never happened. They also promised me a bridge loan since the beloc is late but the bridge loan also never happened. They gave me a fake testimonial letter from supposedly someone who got funded by a beloc …. We called and it was someone who got a unsecured line of credit and not a beloc of $19MM. Now they are telling me that the bank in UK is illegally holding the funds. I asked again to speak with the attorneys but they refused again. Now I will try to get my deposit back. I will definitely go after them… this is a scam and I have hundreds of text messages and emails where they lied to me and they put me in a ton of troubles. Here is a screenshot of the last time my loan officer said the beloc was funding (March 7th) and obviously it did not happen and now they telling me again they don’t know when it’s gonna happen …
80 Replies
- Rental Property Investor · Los Gatos, CA · Member since 2017 · 123 posts · 131 votes3yThis looks like there’s something majorly wrong going on here. It sounds like they have been taking deposits and prepaid interest to string people along. I hope this deters people from sending money to them, sounds like they shouldn’t be used and maybe they’ve run their cycle.
Quote from @Nicholas Virthe:
Today it’s 304 days and I still haven’t been funded and Walt finally admitted to me this morning he has no money in his account and doesn’t know if/ when he will get some. I filed and send the reimbursement form through registered mail… they have 30 business days to refund me . They owe me 329k and I will definitely come back here either way to let you guys know if and what I got back.
- Member since 2023 · 12 posts · 7 votes3yOh, The non refundable bridge fee? The non refundable background fee $7900? Maybe this company would be good for some, I can’t say. My issues were: how do you approve so called funding, then turn around and require bridge loan which said bridge loan is non refundable, then we were told after we paid the bridge loan we would get a term sheet. I am glad we chose not to use them as I have read on here; they don’t stick to a scheduled tranche distribution- which could REALLY jack up a project! Too scary for me
Quote from @Josh Goodeaux:
@Doug Smith I believe we are looking at other options, just doesn’t seem to be for us. They haven’t requested appraisal on the apartments, and I was also told the complex would not be mortgaged either, which seems off to us. Now they are requesting 115,957 for 3 months of prepaid interest and also for 3rd party escrow bridge fee.
- Rental Property Investor · Los Gatos, CA · Member since 2017 · 123 posts · 131 votes3y
Hey Nicholas, was curious how this is turning out for you, hopefully for the best?
Quote from @Nicholas Virthe:
Today it’s 304 days and I still haven’t been funded and Walt finally admitted to me this morning he has no money in his account and doesn’t know if/ when he will get some. I filed and send the reimbursement form through registered mail… they have 30 business days to refund me . They owe me 329k and I will definitely come back here either way to let you guys know if and what I got back.
- Member since 2023 · 6 posts · 5 votes3yToday I’m on day 343. They never refunded the 329k I gave them.
Quote from @Bobby Nilsen:
Hey Nicholas, was curious how this is turning out for you, hopefully for the best?
Quote from @Nicholas Virthe:
Today it’s 304 days and I still haven’t been funded and Walt finally admitted to me this morning he has no money in his account and doesn’t know if/ when he will get some. I filed and send the reimbursement form through registered mail… they have 30 business days to refund me . They owe me 329k and I will definitely come back here either way to let you guys know if and what I got back.
- Member since 2023 · 14 posts · 8 votes3yAnd Nicolas we all know, at this point Mcmann commercial lending, and Genie Investments along with their Zoomeral platform group are scammers!
Quote from @Nicholas Virthe:
Today I’m on day 343. They never refunded the 329k I gave them.Quote from @Bobby Nilsen:
Hey Nicholas, was curious how this is turning out for you, hopefully for the best?
Quote from @Nicholas Virthe:
Today it’s 304 days and I still haven’t been funded and Walt finally admitted to me this morning he has no money in his account and doesn’t know if/ when he will get some. I filed and send the reimbursement form through registered mail… they have 30 business days to refund me . They owe me 329k and I will definitely come back here either way to let you guys know if and what I got back.
- Member since 2023 · 12 posts · 7 votes3y
They received $7900 from us as well. If someone has started legal action, please count me in.
- Member since 2023 · 10 posts · 9 votes3y
Mcmann Commercial Lending, Zoomeral, and Genie Investments
We started the application process with McMann Commercial Lending for a BELOC loan December we wired a $7,900 application fee for this LOAN then we wired a $37,500 on a bridge loan. (On a loan we where told they SCC and it was secure) and 20,000 due diligence fee to Zoomeral/ David Hughes on 1/11/2023 At that point, We were verbally guaranteed, lots of emails, text as well as guaranteed within our contract, that we’d receive the funding of our first tranche (20% of loan) in no later than 75 calendar days and then the funding of our second tranche (80% of loan) in no later than 75 calendar days from the funding date of our first tranche. Around 75 days of waiting, we started asking about our funding. anytime we asked about our loan we received messages like this plus a text and e-mail updates. One of the e-mail updates sent on 3/23 stated that the bank had placed a hold on the account due to the size of the deposits coming into and going out of the account and that attorneys were working to get the hold released. Then we received an e-mail on 4/03 stating that the hold had been released. On 5/10 we were told through e-mail that McMann attorneys were handling a compliance issue and that it should be resolved by Friday 5/12 and that the funding should be happening the week of 5/15 to 5/20. We are currently at 8 months of waiting for the funding of our money. I have received many text message, verbal calls, and letters. Excuse after excuse. Michael Lanza with McMann Lending would not call me back I would text him and he would not respond but maybe every 30 texts later but never over the phone.I have tried many times to get a refund. Walt Trock refuses saying 7900.00 was non refundable. You sold me this loan that you can’t get. I sent 57,500.00 to Genie Investments which now I find out David Hughes is the owner of Zoomeral the platform and Genie Investments. David Hughes does nothing but threaten me if I leave a review or speak with anyone regards this he will cancel my loan. That is why I have not posted up till now. I have personally received many threats of cancellation verbal and in letters from Mcmann Commercial Lending and Genie Investments/Zoomeral. Last week Walt Trock had admitted to me verbally and in text messages there is no money he totally blames Genie Investments/David Hughes. Walt Trock also told me he had not been paid off of 1 BELOC in over 2 years with David Hughes. I question why do I have all kind of proof that Michael Lanza saying he has never had to wait past 80 days? When there is people waiting 2 years? Up until this week Mcmann is still selling this loan. When I spoke to David Hughes yesterday If you express yourself he gets angry and refuses to listen and says he will block you and cancel your loan. As hard as it is I have been extremely patient with each of them. David Hughes offered me to give him another 3k and he may can get another loan. David Hughes also sent me a letter explain they are suing their capital provider. They refuse to tell you who is their capital provider and show proof . He saying he will try to get our deposit back or partial back threw a law suit to this capital provider. Ok, shut me up another couple of years to see if this law suit even comes to past. When you have my money. It should be in an escrow send it BACK! That is the right thing to do when you cannot give people what you promised but Mcmann Commercial Lending and David Hughes/Zoomeral/ Genie Investments refuses! I didn’t want to believe I was being scammed but my opinion is yes I have been.
Leviticus 6:2
- Member since 2023 · 14 posts · 8 votes3y
Atta’ girl !
Exposure of these crooks is the only way that others will not be victims!
Great job ma’am, !
- Member since 2023 · 12 posts · 7 votes3y
Quote from @Walt Trock:
Quote from @Bobby Nilsen:
@Nicholas Virthe @Neil Hoffner @Matthew Sawicki
Thanks for your input. Seems like there’s more issues with these guys than benefit. Probably good for a few select investors.@Alex Bekeza
Appreciate the feedback Alex but I’ll say some of my best lenders have nothing to do with bigger pockets. Completely agree that a lender with great reviews is good but boxing myself to bigger pockets only wouldn’t be a good business model. Sometimes, big sometimes, the unknown is the best and most opportunistic option.your company is scamming people!
- Member since 2023 · 14 posts · 8 votes3y
Quote from @Chrissy Gley:
Quote from @Walt Trock:
Quote from @Bobby Nilsen:
@Nicholas Virthe @Neil Hoffner @Matthew Sawicki
Thanks for your input. Seems like there’s more issues with these guys than benefit. Probably good for a few select investors.@Alex Bekeza
Appreciate the feedback Alex but I’ll say some of my best lenders have nothing to do with bigger pockets. Completely agree that a lender with great reviews is good but boxing myself to bigger pockets only wouldn’t be a good business model. Sometimes, big sometimes, the unknown is the best and most opportunistic option.your company is scamming people!
If anyone sees the name Zoomeral, Genie Investments, Mcmann Commercial Lending.
Run Run RuN they are all CROOKS!
- Member since 2023 · 10 posts · 9 votes3y
Sold us a loan 12/22 from Mcmann Commercial lending. Threw Walt Trock/ Michael Lanza. Put up 66K. Told we would have money working 75 days! It’s been 10 months. They’re blaming their investor David Hughes/Genie Investments for not funding. He also owns Zoomeral. Which is platform we went threw. (Didn’t know at the time). 10 months of hell and lies. They refuse to give us back 1 cent of our money nothing but threats if we go online or speak to anyone they will cancel our loan. Which now we received a letter saying they did. It’s far from over. This is a true statement. I have many text, emails, and recordings to back this up. This is my review.
Kipp Nash - Member since 2023 · 12 posts · 7 votes3y
LAWYER up & fast!!
I lost 7800 for the alleged “background”, nowhere near yours or others loss. I am sorry to hear so many people have had this happen.
- Member since 2023 · 2 posts · 3 votes3y
Quote from @Blake Stringer:
Quote from @Chrissy Gley:
WOW!!
Sounds like alot of us have given the $7.8k background check fee, and been stuck in one of their processes. I feel we all need to get together and file legal action on this company
You can call me at 18066764888
Well add us to the legal action - my company is $47,900 in and have already requested to terminate our loan and get a refund due to MANY red flags....now no response and of course no refund!! I reported to BBB already, thinking about the news, idk - Member since 2023 · 2 posts · 3 votes3y
Quote from @Chrissy Gley:
LAWYER up & fast!!
I lost 7800 for the alleged “background”, nowhere near yours or others loss. I am sorry to hear so many people have had this happen.
I was going to try all other options before going legal but it looks like that is the route I will end up doing. I wish I had read ALL of these reviews prior to sending them more money. - Member since 2023 · 37 posts · 14 votes2yHave you gotten funded yet?
Quote from @Josh Goodeaux:
Is anybody on here sure this is a scam?
We have been talking with Michael Lanza as well. We are purchasing a 72 unit apartment complex and are looking into McMann lending. We were approved for 4.2M and have sent in the 7,900 fee.
Any feedback from prior investors that have used this company and been funded would be appreciated.
our terms our 5% 15year Interest only - Member since 2023 · 37 posts · 14 votes2y
Quote from @Account Closed:
Mcmann Commercial Lending, Zoomeral, and Genie Investments
We started the application process with McMann Commercial Lending for a BELOC loan December we wired a $7,900 application fee for this LOAN then we wired a $37,500 on a bridge loan. (On a loan we where told they SCC and it was secure) and 20,000 due diligence fee to Zoomeral/ David Hughes on 1/11/2023 At that point, We were verbally guaranteed, lots of emails, text as well as guaranteed within our contract, that we’d receive the funding of our first tranche (20% of loan) in no later than 75 calendar days and then the funding of our second tranche (80% of loan) in no later than 75 calendar days from the funding date of our first tranche. Around 75 days of waiting, we started asking about our funding. anytime we asked about our loan we received messages like this plus a text and e-mail updates. One of the e-mail updates sent on 3/23 stated that the bank had placed a hold on the account due to the size of the deposits coming into and going out of the account and that attorneys were working to get the hold released. Then we received an e-mail on 4/03 stating that the hold had been released. On 5/10 we were told through e-mail that McMann attorneys were handling a compliance issue and that it should be resolved by Friday 5/12 and that the funding should be happening the week of 5/15 to 5/20. We are currently at 8 months of waiting for the funding of our money. I have received many text message, verbal calls, and letters. Excuse after excuse. Michael Lanza with McMann Lending would not call me back I would text him and he would not respond but maybe every 30 texts later but never over the phone.I have tried many times to get a refund. Walt Trock refuses saying 7900.00 was non refundable. You sold me this loan that you can’t get. I sent 57,500.00 to Genie Investments which now I find out David Hughes is the owner of Zoomeral the platform and Genie Investments. David Hughes does nothing but threaten me if I leave a review or speak with anyone regards this he will cancel my loan. That is why I have not posted up till now. I have personally received many threats of cancellation verbal and in letters from Mcmann Commercial Lending and Genie Investments/Zoomeral. Last week Walt Trock had admitted to me verbally and in text messages there is no money he totally blames Genie Investments/David Hughes. Walt Trock also told me he had not been paid off of 1 BELOC in over 2 years with David Hughes. I question why do I have all kind of proof that Michael Lanza saying he has never had to wait past 80 days? When there is people waiting 2 years? Up until this week Mcmann is still selling this loan. When I spoke to David Hughes yesterday If you express yourself he gets angry and refuses to listen and says he will block you and cancel your loan. As hard as it is I have been extremely patient with each of them. David Hughes offered me to give him another 3k and he may can get another loan. David Hughes also sent me a letter explain they are suing their capital provider. They refuse to tell you who is their capital provider and show proof . He saying he will try to get our deposit back or partial back threw a law suit to this capital provider. Ok, shut me up another couple of years to see if this law suit even comes to past. When you have my money. It should be in an escrow send it BACK! That is the right thing to do when you cannot give people what you promised but Mcmann Commercial Lending and David Hughes/Zoomeral/ Genie Investments refuses! I didn’t want to believe I was being scammed but my opinion is yes I have been.
Leviticus 6:2
Get these men in JAIL! They are criminals! If you have experienced fraud with McMann Commercial Lending and Genie Investments report them to the FTC, and the FBI. DO IT NOW!
Also, find other posts on the Bigger Pockets website to join the list of people frauded by these 2 companies. Lets work together to get these guys in jail! I personally have lost over $90k with these criminals.
Walter Trock, McMann (also working under an new company name)
Michael Lanza, McMann (also working under an new company name)
David Hughes, Genie Investments, also is the owner of Zoomeral
Mike Conner, Genie Investments
https://www.victimsbelocscam.com/forum/victims-discussion/mc...
- 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Account Closed:
Quote from @Account Closed:
Mcmann Commercial Lending, Zoomeral, and Genie Investments
We started the application process with McMann Commercial Lending for a BELOC loan December we wired a $7,900 application fee for this LOAN then we wired a $37,500 on a bridge loan. (On a loan we where told they SCC and it was secure) and 20,000 due diligence fee to Zoomeral/ David Hughes on 1/11/2023 At that point, We were verbally guaranteed, lots of emails, text as well as guaranteed within our contract, that we’d receive the funding of our first tranche (20% of loan) in no later than 75 calendar days and then the funding of our second tranche (80% of loan) in no later than 75 calendar days from the funding date of our first tranche. Around 75 days of waiting, we started asking about our funding. anytime we asked about our loan we received messages like this plus a text and e-mail updates. One of the e-mail updates sent on 3/23 stated that the bank had placed a hold on the account due to the size of the deposits coming into and going out of the account and that attorneys were working to get the hold released. Then we received an e-mail on 4/03 stating that the hold had been released. On 5/10 we were told through e-mail that McMann attorneys were handling a compliance issue and that it should be resolved by Friday 5/12 and that the funding should be happening the week of 5/15 to 5/20. We are currently at 8 months of waiting for the funding of our money. I have received many text message, verbal calls, and letters. Excuse after excuse. Michael Lanza with McMann Lending would not call me back I would text him and he would not respond but maybe every 30 texts later but never over the phone.I have tried many times to get a refund. Walt Trock refuses saying 7900.00 was non refundable. You sold me this loan that you can’t get. I sent 57,500.00 to Genie Investments which now I find out David Hughes is the owner of Zoomeral the platform and Genie Investments. David Hughes does nothing but threaten me if I leave a review or speak with anyone regards this he will cancel my loan. That is why I have not posted up till now. I have personally received many threats of cancellation verbal and in letters from Mcmann Commercial Lending and Genie Investments/Zoomeral. Last week Walt Trock had admitted to me verbally and in text messages there is no money he totally blames Genie Investments/David Hughes. Walt Trock also told me he had not been paid off of 1 BELOC in over 2 years with David Hughes. I question why do I have all kind of proof that Michael Lanza saying he has never had to wait past 80 days? When there is people waiting 2 years? Up until this week Mcmann is still selling this loan. When I spoke to David Hughes yesterday If you express yourself he gets angry and refuses to listen and says he will block you and cancel your loan. As hard as it is I have been extremely patient with each of them. David Hughes offered me to give him another 3k and he may can get another loan. David Hughes also sent me a letter explain they are suing their capital provider. They refuse to tell you who is their capital provider and show proof . He saying he will try to get our deposit back or partial back threw a law suit to this capital provider. Ok, shut me up another couple of years to see if this law suit even comes to past. When you have my money. It should be in an escrow send it BACK! That is the right thing to do when you cannot give people what you promised but Mcmann Commercial Lending and David Hughes/Zoomeral/ Genie Investments refuses! I didn’t want to believe I was being scammed but my opinion is yes I have been.
Leviticus 6:2
Get these men in JAIL! They are criminals! If you have experienced fraud with McMann Commercial Lending and Genie Investments report them to the FTC, and the FBI. DO IT NOW!
Also, find other posts on the Bigger Pockets website to join the list of people frauded by these 2 companies. Lets work together to get these guys in jail! I personally have lost over $90k with these criminals.
Walter Trock, McMann (also working under an new company name)
Michael Lanza, McMann (also working under an new company name)
David Hughes, Genie Investments, also is the owner of Zoomeral
Mike Conner, Genie Investments
https://www.victimsbelocscam.com/forum/victims-discussion/mc...
U guys need to get all of these guys posted on the Rip of Report .. their google algorithm is the strongest out there anyone googling them your posts will come up top on a google search
- Member since 2023 · 15 posts · 7 votes2y
DO NOT deal with McMann, Walter Trock, Michael Lanza and David Hughes, Mike Conner Genie Investments. These guys are CRIMINALS! They have stolen millions from investors. If you have been affected by these companies, PLEASE REPORT THEM TO THE FBI, SEC AND Attorney General. They WILL get caught! Do not be afraid to speak up. If you don't, you give these criminals more power to steal from honest people. Stay anonymous if you have to but PLEASE report them! I am out over $100K because of them!
Quote from @Bobby Nilsen:
Has anyone had any experience using McMann Commercial Lending. Currently looking at potentially using them for a $2m loan/beloc on an 8 unit building. Any insight would be helpful. Thanks. - Member since 2023 · 15 posts · 7 votes2y
@Josh Goodeaux - Have you gotten funding?
Quote from @Josh Goodeaux:
Is anybody on here sure this is a scam?
We have been talking with Michael Lanza as well. We are purchasing a 72 unit apartment complex and are looking into McMann lending. We were approved for 4.2M and have sent in the 7,900 fee.
Any feedback from prior investors that have used this company and been funded would be appreciated.
our terms our 5% 15year Interest only - Member since 2023 · 15 posts · 7 votes2y
@Josh Goodeaux - Its been almost a year and I still haven't gotten funding and out over $100K. Genie Investments and McMann Commercial Lending seem to working together. You can ask Michael Lanza, Walt Trock about how many loans they funded. They can't even tell you.
Quote from @Josh Goodeaux:
Is anybody on here sure this is a scam?
We have been talking with Michael Lanza as well. We are purchasing a 72 unit apartment complex and are looking into McMann lending. We were approved for 4.2M and have sent in the 7,900 fee.
Any feedback from prior investors that have used this company and been funded would be appreciated.
our terms our 5% 15year Interest only - Member since 2023 · 4 posts · 7 votes2y
Quote from @Account Closed:
@Josh Goodeaux - Its been almost a year and I still haven't gotten funding and out over $100K. Genie Investments and McMann Commercial Lending seem to working together. You can ask Michael Lanza, Walt Trock about how many loans they funded. They can't even tell you.
Quote from @Josh Goodeaux:
Is anybody on here sure this is a scam?
We have been talking with Michael Lanza as well. We are purchasing a 72 unit apartment complex and are looking into McMann lending. We were approved for 4.2M and have sent in the 7,900 fee.
Any feedback from prior investors that have used this company and been funded would be appreciated.
our terms our 5% 15year Interest only - Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes2y
submit a complaint https://www.consumerfinance.gov/complaint/
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