McMann Commercial Lending

My story is similar to Kristin's, but we only sent money to McMann. Do NOT trust Walt Trock or any of his staff, including Michael Lanza - they are SCAM artist, you will NEVER get your loan money.

We started the application process with McMann Commercial Lending for a BELOC loan December 2022. The process was pretty simple aside from some of our paperwork being lost and having to resend it. Our application was accepted. Initially we wired a $7,900 application fee to McMann Commercial Lending. Then we wired a $35,000 non-refundable due diligence fee to Genie Investments, and finally we wired $26,805 to Genie Investments for bridge loan interest ($21,444) and a Zoomeral origination fee ($5,361) on January 10, 2023. At that point, we were told that McMann had everything they needed from us and that we were awaiting funding. We were verbally guaranteed, 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. For the next 2 months, anytime we asked about our funding we received either no response or a text message stating something like, “As soon as I have any update I will let you know”. We received 25+ text messages similar to or exactly like this plus a few 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 149 days of waiting for the funding of our first tranche, just 1 day away from when we should have already received both tranches. We were offered the potential of a personal line of credit since our BELOC funding is delayed with no explanation of why our BELOC funding is delayed. We declined the offer and stated that we only want to receive our BELOC funding. On the first week of June we were told there would be an announcement regarding BELOC loans on Wednesday 6/07. On Wednesday 6/07 I received this text from the owner of McMann Commercial Lending: “notices on the BELOC loan status are being prepared and should be out by email later in the day”. There was never an e-mail sent. And here we are…still waiting.I have received many messages through social media after posting my initial Google review - there are many people not being funded and I have yet to hear of anyone who has actually received funding for their BELOC loan.

Walt took $3,500 as a fee for a loan back in 02/2021 on a program that when offered. And removed when fee was paid. 08/2021 still no loan and he wants $12,500 additional. I requested my money back, he said No Sue Me. Stay away and let's start a class action against this extortionist thief

Walt took $3,500 as a fee for a loan back in 02/2021 on a program that when offered. And removed when fee was paid. 08/2021 still no loan and he wants $12,500 additional. I requested my money back, he said No Sue Me. Stay away and let's start a class action against this extortionist thief

Walt took $3,500 as a fee for a loan back in 02/2021 on a program that when offered. And removed when fee was paid. 08/2021 still no loan and he wants $12,500 additional. I requested my money back, he said No Sue Me. Stay away and let's start a class action against this extortionist thief