Stay Away for American Loans & Funding in Los Angeles, CA - Scam!!! On 9/27/10 I applied for a pledged asset commericial mortgage with American Loans and Funding for a loan of $425, 000 at 4.00% 30 year fix for my 2 family home. The loan officer David Smith, said I have to wire $36, 557.88 as security deposit to be put in escrow, to show to show perspective investors our solvency. At least that was the story told to me. .I was very hesistant to do this, but looked up information about commerical mortgages to find that this is customary... read full review »