Anchor Loans and Aloha Capital Scams and not licensed

[Chris Fuller]

I would stay away!! Peerstreet buys Alohas notes and Aloha still tries to service the debt that is not theirs. This is illegal!! They are a lender that will set you up for failure. They are currently in litigation with many borrowers and investors that have been taken advantage of. I have been wanting these loans paid off for a year but they continue to collude with another lender "Anchor Loans" to try and "strong arm" me into dropping my case. Please make sure your attorneys research the lenders Federal pending cases and the state in which they operate in.

Anchor does many things that are not above board. They sell the notes and service debt that is not theirs. They short the investors that give them money which are called "Junior Lenders". This is illegal!! They are a lender that will set you up for failure. They are currently in litigation with my company and they want me to drop my case against them in exchange for payoffs. Really!! I have been wanting these loans paid off for a year but they continue to collude with another lender "Aloha Capital" to try and "strong arm" me into dropping my case. Look up "RICO" and you will see that lenders with these tactics fit right in the "RICO" charge. Contact me if you have been forced into "Deeds in Lieu" and or Bankruptcy. Have your attorney look up cases where Anchor Loans was the defendant and you will see the trend. We have gathered information from other victims and will not stop. Check outhttps://www.hardmoneyhome.com/lenders/view/anchor-loans

https://www.facebook.com/hardmoneylendervictims

Tip of the day: Contract law does NOT supersede State law. Know your facts. Know your rights!!

How these lenders have skated around licensing in many states is because the "commercial loan" language but they really did not know is some states the exempt law state:

Exempt-
(d) Any person engaged solely in commercial mortgage lending or any person making or acquiring residential or commercial construction loans with the person's own funds for the person's own investment;

[Kyle Altenau]

I don't know anything about Anchor Loans or Aloha Capital, but I think you may be incorrect on a few points here. The discrepancy may be down to differences in state law or just misunderstandings. 

First - If Peerstreet buys a note from Aloha, their agreement can be set up so that Aloha still services the debt. There is nothing wrong with a third party servicing debt. It's actually quite common. Sometime investors prefer an originator use a third party to create some separation once the loan closes. 

Second - I am not sure what you mean about shorting investors. Can you elaborate? Are you saying they short pay loans that pay off even if the loan was paid in full? That'd certainly be illegal, but I can't imagine how you could even get away with that on a large scale.

Third - There are a handful of states that you need a license to lend commercial loans, but the majority of states it is perfectly legal. And quite common. If that changed I think it'd put a lot of people in a big capital crunch and really disrupt the market. 

You are absolutely right about contract law though and I think it's a good point to bring up. Just because another party puts something in a contract does not mean that it is entirely enforceable. There are definitely some shady people out there that might put outrages penalties or provisions in loan documents that try to take advantage of people that don't know better. It just drives home why it's important to have not just any lawyer, but a good lawyer.