Undercover Banker Reconnaissance
49 commentsAugust 04th, 2009 | 10:52 am
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“I would definitely recommend MCC to a friend or client that"s looking to own their own commercial property.” - Larry Breen |
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August 04th, 2009 | 10:52 am
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So where will we be next?
August 4th, 2009 at 11:07 am
Obama administration can't figure out anything except how to spend money, it will get worse
August 4th, 2009 at 11:07 am
THIS IS AWESOME!!!! OMG too funny!
August 4th, 2009 at 11:08 am
Great stuff. I might start calling you Chris Hansen with all this ingenious undercover work.
August 4th, 2009 at 11:08 am
I watched the first clip. This is amazing. Another great Hurn marketing idea. I'd be curious as to how many people actually watch them. Nice going Chris. You are definitely on the ball.
August 4th, 2009 at 11:09 am
I haven't reviewed them yet but I'm sure I will find them very interesting as I have been trying to refinance a commercial Industrial project for about 2 years with a better that 50% equity in the project based on the current banks selected MAI (paid for by me ,of course)
August 4th, 2009 at 11:10 am
Great videos. Unbelievable, how could you ever get a loan done?
August 4th, 2009 at 11:10 am
Incredible. These people are bankers? Of course as a real estate practitioner of residential real estate, the stories about banks are myriad regarding their mishandling of foreclosures and short sales.
Congress should really take an in-depth look at how much money is being wasted and just plain lost because of incompetence, lack of prompt communication and lack of knowledge on the part of the people handling these transactions. Disgusting!
August 4th, 2009 at 11:11 am
The videos puts a new meaning to "I forgot more then they will ever know."
August 4th, 2009 at 11:12 am
Great stuff Chris. I watched Banker 1 and 3 and just had to groan! You may be missing a teachable moment by not coming on and giving the correct information and setting the record straight. This would further establish your credibility.
August 4th, 2009 at 11:12 am
After watching these 4 eye-opening clips, it makes me feel that much better about my knowledge and ability to convey in plain english what we can provide to our clients. They were all mush-mouthed loan officers who didn't have a clue about what they are doing, and if this is the competition out there, it emboldens me even more that I can help make a difference to my clients, and to continue on the career path I am on.
Thanks for serving up a slice of the fetid commercial mortgage origination pie that exists, and every commercial mortgage originator should look at this and see how not to interact with a client.
Know your products, or be prepared to be left behind.
August 4th, 2009 at 11:13 am
You don't need to tell me about incompetence in the banking industry. I am interested in the clips though.
I have a million things to say but it all boils down to every couple decades the banking indusrty does something really stupid, the govt comes in and "fixes" it and small business owners like me pay for it
August 4th, 2009 at 11:13 am
Brilliant.
August 4th, 2009 at 11:14 am
Scary!!
August 4th, 2009 at 11:15 am
These videos were really done well. It really shows the uneducated part of some of these so called commercial loan officers, Wow.
August 4th, 2009 at 11:16 am
I can give you an even scarier situation. My son has a small business and the bank is doing everything it can to put him out of business. The bankers are idiots at best and grossly negligent at worst.
August 4th, 2009 at 11:19 am
I appreciate your efforts to expose some of the jokers that call themselves bankers. They probably have the credentials of certificates to prove it but they are mostly all the same breed if you know what I mean.
By the way Karen Mills, the new Secretary of the SBA lives in Maine and her husband is the President of Bowdoin College. I know several of the Alumni that have been on the Board and know her well. Its a pretty close knit group and I'm not in it. Keep their feet to the fire and let me know if you can finance a non-profit 501 (C) 3.
Thanks for keeping in touch.
August 4th, 2009 at 12:09 pm
O.M.G!
That was so scary. Not one good question about you or the company. All answers were vague or wrong. No one knew what they were talking about. Even their own loan programs!
Good job.
August 4th, 2009 at 12:10 pm
Well done. Hope you are well.
August 4th, 2009 at 12:11 pm
That was GREAT!! Everyone had a different stork, different figure, well that's the way they work.
Once we open our restaurant we want to build our home and maybe we can get together with you to see how we can do it. You seem to know your business very well.
Anyway, thanks for letting me see your video, it was really great and it did put a smile on my face and yes, at the same time it is sad.
August 4th, 2009 at 12:11 pm
You got it…I am a CCIM candidate and I am forwarding on to the team.
August 4th, 2009 at 12:12 pm
Great job!
August 4th, 2009 at 12:15 pm
I am with you 100% and have not even watched your video but I believe it.
I am like you. I get scared because I am not cocky but if I got denied with all that I have, what is happening to the small business owner who is not making payroll, does not have such a good credit and owe a lot on his credit cards?
Nobody is having access to money to is available to help small business.
I will watch all your videos, comment on them and I might do the same here in Michigan to expose these people. It annoys the heck out me too.
I would even go to Washington with you if necessary but honestly, this crap has to stop and I will do anything on my power to help people out there that is not so aggressive as I am.
August 4th, 2009 at 12:16 pm
You are exactly right—bankers today rank right up there with attorneys—good for you—send this to O"Reily and Hannity.
August 4th, 2009 at 12:16 pm
Good for you. It's a sad state we're in and exposing it is the best thing we can do. Keep up the good work.
August 4th, 2009 at 12:17 pm
I have viewed your youtube site and I don't do these days alot of 504 or 7A Loans but it was interesting of what those lenders said, most don't know what they are offering. Most bankers here in St Louis they are very direct and to the point of what they can do or can't do. Depending on the deal.
Anyway I found that interesting!
August 4th, 2009 at 12:17 pm
Thanks for getting the truth out. It takes courage these days to bring the light of day into many of these issues. I too am frustrated with the plethora of RE related associations that appear to be doing nothing to stimulate the economy. Mystery meat luncheons and guru speakers are tiring me out!!!
August 4th, 2009 at 12:45 pm
Very creative! Keep up the good work. If you want to see a banker cringe bring him a project with a construction element or leasehold improvement. This may highlight the inability for SBA borrowers to get the necessary funds.
August 4th, 2009 at 1:21 pm
Chris, your the man! I love what you are doing! I have been so frustrated getting answers from banks because they know nothing more than what they read on their policies. I would love to have you do the financing for me on my Mansion Living project here in Central Florida.
August 4th, 2009 at 4:18 pm
You do a great Job Chris!
August 5th, 2009 at 3:25 pm
It"s what we see every day. Sad!
August 5th, 2009 at 3:28 pm
Hey Chris! I guess this proves what a real estate guru for residental and commercial property has been teaching for the last 20 years,there`s no intelligent life form at the banks! Except MCC of course. Good Job!! Those of you who do real estate know who i`am talking about.
August 5th, 2009 at 3:29 pm
This is great I will show it to our customers that go to banks because they have the standard (SBA Preferred Lender) plastered allover their doors and walls the consumers think these guys have all of the answers and the truth is they do not have the slightest idea. Keep up the good work and I will forward some SBA loans to you in the near future.
August 5th, 2009 at 3:31 pm
I watched these videos when you sent them earlier, and I found them saddening but funny. Very good marketing pieces as well, and I think you should MOST DEFINITELY post rebuttals and a video on what they should have said. I think that would really push the point home that you guys know what you're doing much better than those banks seem to.
Just my two cents.
August 5th, 2009 at 3:32 pm
I watched them and was not surprised. In my commercial banking career I have dozens of examples of business owners coming in for lending questions and they had been to another financial institution prior to their visit with me. Their comments were usually along the lines of, "why didn't my banker tell me that?"
Good work.
August 5th, 2009 at 5:13 pm
Hey Chris.
Great job, both on your latest Fox Business interview and the expose videos.
The "Ordinary Bankers" were Entertaining and Ugly at the same time. I felt embarassed for those people and their banks and I'm 1,300 miles away! No customer service.
(How about some basic listening skills? Simple courtesy? They continually spoke over your questions and responses).
And Zero product knowledge, only nonsensical babbling and double-talk. Banker #1 was especially painful. It was clear that she had no idea of the difference between a residential condo and a commercial condo. It sounded like she thought you were going buy a 2 bedroom unit or something and set your business up in there.
Although I would not envision any of my clients (business owners and executives) just walking into a branch to get information, it's still nearly inconceivable that in the year two thousand plus, business is being practiced in that manner. Shameful!
One thing I did miss in clip #'s 3 & 4, was your quick but enjoyable post mortem, outside after leaving the bank (that you did at the end of clip #'s 1 & 2).
And you should definitely set the record straight by correcting the misinformation those "bankers" garbled to you.
Keep up the great work. Thanks
Mike
August 6th, 2009 at 8:08 am
WAY TO GO CHRIS; ITS ABOUT TIME SOME ONE PUT THE BITE ON THESE INEPT BANKERS….AND LAZY BANKERS…..REGARDS, AND YEH!
August 6th, 2009 at 8:22 am
We should get some sort of a message out to small business owners: “bankers are not financial experts” “bankers are not looking out for your best interests” “bankers are not business people”. It saddens me when I think of what the banks have turn into these days.
I"m working with a start up company and I couldn"t use 2 of my usual bankers because they are not interested in start ups. I said to him, were going to be depositing $1MM into the bank, but we"ll be looking for some support in the way of commercial financing down the road. They told me they couldn"t bring on start up business because the regulators force them to classify a start at a higher risk level so they don"t like that type of business. The mind set of our government is too always over react, lets tighten things so much that no one every makes a bad loan, the best way to do that is to not make loans.
Small business owners should spend a few dollars and a few hours talking to people like myself: a former CFO who understand all aspects of commercial financing. There"s a lot of guys like me out there, it"s worth the time and effort for the business owners.
Keep up the good work.
August 6th, 2009 at 8:34 am
Well done.
Yes I think the what was said versus what should have been said would be of interest.
August 6th, 2009 at 8:36 am
I think the videos clear show their incompetence. I suggest that you have a “the real deal” video to clearly state what"s real (like you suggested below). At the end of each of the four clips should go to the “real deal” video, because some people will not need all 4 clips to be convinced. Hope this helps.
August 7th, 2009 at 1:50 pm
Chris, good job, keep up the good work. thanks dan
August 7th, 2009 at 1:51 pm
Thanks for the heads-up on the banking industry
August 7th, 2009 at 3:31 pm
Chris, I enjoyed looking at the clips. Pretty pathetic. Sounds like no one knows what they are talking about. I think you need to get above the branch to getting any sort of accurate information.
August 7th, 2009 at 3:57 pm
Good work Chris. I'd rather have a root canal, go bungee jumping or even fishing rather than have to deal with these people.
August 10th, 2009 at 8:17 am
Good job Chris!
I wish someone from the SBA would step up and have a “Town Hall” meeting with small businesses.
August 10th, 2009 at 2:49 pm
Nice hidden camera videos by the way. Creative way to get out the message.
August 11th, 2009 at 1:27 pm
Unbelievable. Awesome video.
August 12th, 2009 at 10:09 am
This was great. I got a good laugh out of the 4 videos. Have people forgotten how to speak or something?
August 13th, 2009 at 11:43 am
Great Stuff! Typical of the banking community!
August 13th, 2009 at 1:29 pm
Hey there, some hilarious, and some scary things on your videos- wow!!