CalUnion Funding Inc. is a mortgage broker and its CEO is David Lerman. The company tries its best to mislead customers into thinking it’s an excellent organization.
However, the client reviews tell a completely opposite story.
According to the various client reviews, CalUnion Funding harasses its clients, delays work for weeks, and even tries to defraud clients by manipulating documents.
In the following review, I’ll tell you what David doesn’t want you to know:
What CalUnion Funding, Inc. Claims To Be?
CalUnion Funding Inc is a mortgage broker located in Los Angeles, California. Their address is 6400 Laurel Canyon Blvd, North Hollywood, CA 91606, US.
The contact number of this company is 818-627-5363 while the opening hours are 8 AM to 9 PM on weekdays. There are a lot of red flags in this mortgage lender. They might seem innocent at first but their red flags will make you suspect them of fraud and deceit right away.
The CEO of CalUnion Funding Inc is David Lerman. He is also a senior loan officer at this firm. There’s a long complaint against David for his predatory lending practices, I’ll go into it later. First, let me highlight the red flags visible in this firm:
Duplicate Websites to Mislead Consumers:
This company has two websites: calunionfunding.com and calunion-funding-inc.business.site. The first website gives you every information you need about the company such as its services, experience, testimonials, etc. According to them, the second website is their “business website”.
But the business website actually gives you less information than the other one. You might wonder, “What purpose does that business site serve”?
The answer is: taking space on Google search results.
CalUnion Funding Inc doesn’t want you to find out the various negative reviews on their company. So they have created a useless website to mislead consumers. It’s a common tactic among crooked businesses and scammers. For example, ISC Surrogacy Center also uses this method to misguide gullible couples.
BBB Accreditation to Hide Complaints:
CalUnion Funding Inc is a BBB accredited business. Contrary to popular belief, BBB accreditation is actually a paid membership of the review platform. If you have a business with a profile on BBB, you can pay them an annual fee to get BBB accreditation.
When you get accreditation, BBB will give your business an A or A+ rating no matter how terrible your business practices are.
CNN Money had conducted a detailed investigation on this unethical practice. They found that companies facing charges of discrimation and fraud had A+ ratings on BBB because of their accredited status.
Companies pay upwards of $10,000 for their accreditation.
This strategy allows scammers to seem like legitimate businesses. So, it’s no surprise that CalUnion Funding Inc has a BBB membership. JFQ Lending is another lender that uses this exact tactic.
Discrimation & Predatory Lending Practices By The CEO David Lerman
Brandon Robles is a loan officer at CalUnion Funding Inc. His contact number is 818-627-5363 and it seems he is among the most incompetent staff members in this firm.
The complaint below is on him:
This was a huge complaint against CalUnion Funding. According to the reviewer, he discovered that their loan broker was manipulating numbers, giving false disclosures, and editing words and numbers in the documents before they reached him.
When the reviewer voiced his concern, the loan officer said they can’t work together anymore. The reviewer pointed out that they should comply with the Fair Lending Act but they didn’t respond.
Then, the reviewer’s real estate agent called him to inform him that the loan officer had chosen to cancel the loan. However, the reviewer adds that the real estate agent had tried a lot to cover things up for the loan officer.
Keep in mind that the reviewer’s escrow was still there and the loan officer was threatening to quit in the middle of the contract. The reviewer tried to contact the manager of the LO multiple times but never got any response.
He adds that the lender was deliberately delaying things so that he wouldn’t meet the deadline and lose whatever payment he made to CalUnion.
When he sent an email to the loan officer, manager, and the CEO, he finally got a response. David Lerman, CEO of CalUnion Funding, told him that he will send him a letter through his attorneys.
The reviewer says that it was blatant extortion. Later on, the seller cancelled the contract citing failure on the buyer’s (reviewer) part.
He has shared his complaint on other platforms as well:
More CalUnion Funding Inc Reviews You Need to Read:
CalUnion Funding, Inc. Review Conclusion: Extremely Shady!
It seems like the people running this company don’t really respect their customers. They face a ton of complaints for delaying work and misbehaving their clients. It’s unusual for a mortgage broker.
Don’t forget the fact that the company uses unethical tactics to mislead customers. From duplicate websites to paid memberships of third-party platforms, they are trying everything to dupe people.
All of this suggests, it would be best to avoid this broker.
CalUnion Funding Inc is a terrible organization in terms of service and business ethics. It uses duplicate websites and paid memberships to mislead you. Avoid.
- Duplicate websites
- Unethical tactics
- Harass consumers