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	Industry Professional Comments

	dan - mrabow - 4/17/2009 12:02:28 PM
	Dan In the 30 years I have known you, I have always enjoyed doing business with you. You are a successful problem solver and you have always met the goals I set before you.We have had a lot of real estate loan transactions both fund and payoff over the years and i have always admired you uncanny ability to conservatively underwrite appraisals both residential and commercial. Even though you were running an active mortgage company you found time, through leading seminars, to raise the professionalism within the private lending money sector. Because of my long-term relationship with you , I know the articles written recently appear one sided and not representative of how you conduct business. It is a shame your good name is being torn apart. -- Mel Rabow
	Pay attention to history - Phil Ruble - 4/7/2009 12:04:09 PM
	I also manage a private money mortgage fund. Needless to say most of our lending standards start with equity in a project. They are also tempered with the ability to repay, the overall viability of a project, the reputation of the builder/developer and the exit strategy that is required to repay the loan such as resale or refinance of a property. When we are confronted with a marketplace that has, in certain areas, deteriorated by 50 to 60% in value, when lenders are no longer providing permanent or take-out financing, and buyers are virtually non-existent, it not only impossible to create liquidity in a porfolio but any attempt to do so on a mass basis would result in tremendous losses to the investors who would stand the bombardment of "fire sale prices". We must all have patience and allow time for the market to recover. My advice to any investor in any fund today is let management do its job and remember why you hired the manager in the first place. In Dan Harkey's case you hired him for his indepth knowledge in the arena of real estate, lending, and finance. His reputation in the industry is impeccable and he is one of the most respected members of our industry. Finally, I would refer you the the history and ongoing trials and tribulations of a company called USA Capital. The investors decided that the fund managers were incompetent to continue to manage the fund so they decided to bring in outside management. With legal fees, management fees and other expenses in liquidating this fund the investors will probably, althought yet to be proven, will likely realize about 30 cents on their invested dollar. Learn from history. Need I say more? Working through this or any portfolio will take time. Let management do their jobs. -- Phil Ruble
	The Truth - david@davidfrankloans.com - 4/6/2009 12:06:00 PM
	I have worked with both Christine and Martin. They have been nothing but professional, high morals and integrity and friendly. We have worked on a few loans with great satisfaction but the clients went another way. I look forward to continue my relationship with Point Center. -- David T. Frank Jr
	PCF a High Quality Lender - Richard Hill Adama - 4/4/2009 8:21:57 AM
	For two decades I have completed loans with PCF and found them to be an excellent lender. The underwriting was complete from A to Z. All of our borrowers properties were appraised by highly qualified appraisal companies licensed by the State of California and the Appraiser held the M.A.I designation, the highest in appraising. The loan packages included everything from the Credit Report to the borrower banks statements. When the loan package for the Investor was finished the package was larger than you telephone directory, everything you could want to make an informed, intelligent decision was included in that investment package. Every property was inspected; the information reviewed, the opportunity explained and the risks disclosed. No one is immune to the effects of the national economy and the real estate market in particular, this is an economic fact of life, these markets go up and down over time and they will recover at some point in time. I know from a review of the records that there has never been any disciplinary action taken against Point Center Financial by the Department of Real Estate, they do the job and do it right. In the market we are currently in there are investors who are looking for someone to blame for their losses or potential losses, everybody has suffered in the market from the Investor to the Borrower. Point Center Financial provided the opportunity for the investment and the Investor made the decision to invest, if the economy had not taken a turn for the worse, everybody would be doing well in the investments they made from Real Estate to the Stock Market.
	You have my full support! - Consultant - 3/31/2009 2:36:24 PM
	Hey Dan, you have my full support! You run a great business and I have nothing but great respect for you and Point Center! -- Keith Hale
	You have my support! - Industry Professional - 3/31/2009 2:34:32 PM
	I am so sorry that you have to be dragged through this sort of thing. I stand as a solid, industry support in your struggle here.
	I support the good work you've done - business colleague - 3/31/2009 9:47:06 AM
	I support the good work your company has done. Being in the business (R.E. Appraiser) I understand the current market and know your doing the best you can. I guess some people have a short memory and don't remember cashing all of the previous profit checks.
	Bitter people are causing the trouble, not solving it - industry professional - 3/31/2009 9:46:02 AM
	You’re an honest businessman, a man of your word, and I enjoy doing business with you. You have always been fair, forthright, and honest in your dealings with me and my clients. Thank you. You’re getting a bum rap for a market gone bad by bitter people who would rather cause trouble instead of taking the same effort and resources to, in the spirit of cooperation, try to solve the problem. What a shame. Take care, and hang in there. I know you will.
	What a shame!! - business professional - 3/31/2009 9:35:26 AM
	You’re an honest businessman, a man of your word, and I enjoy doing business with you. You have always been fair, forthright, and honest in your dealings with me and my clients. Thank you. You’re getting a bum rap for a market gone bad by bitter people who would rather cause trouble instead of taking the same effort and resources to, in the spirit of cooperation, try to solve the problem. What a shame. Take care, and hang in there. I know you will.
	You have our full support - industry professional - 3/31/2009 9:20:25 AM
	Received your letter, read the newspaper articles...As always, I value our relationship and support you 100%
	I will testify on your behalf - business professional - 3/31/2009 9:19:18 AM
	If you need me to speak or testify on your behalf, I would be happy to do so. I'm one of the ones you turned down for a loan request because you were conservative on valuation. I was referred to you by a good friend.
	What the media is doing to make a "story" - business professional - 3/30/2009 4:49:03 PM
	Sorry to see the LA media taking advantage and sensationalizing a lawsuit by a few people. I would hope that most educated people can see what the media is doing to make a "story". Hang in there and best regards.
	Wishing you success - industry professional - 3/30/2009 8:44:41 AM
	Thank you very much for the information. I've always had the highest respect for you and your staff and wish you success over this matter. As always we will keep Point Center in mind for quality business.
	Excellent website - industry professional - 3/30/2009 8:37:10 AM
	It is people like this that make it more difficult for all of us to operate. Throw this guy behind bars or under the bus. Good luck and let me know if I can help in any way.
	Dan Harkey is a One of the Good Guys - George Blackburne - 3/27/2009 3:40:20 PM
	I own a hard money shop that competes with Dan Harkey's Point Center Financial. I've also known Dan for over twenty years. Folks, Dan Harkey is one of the GOOD guys. He is one of the toughest and most thorough underwriters in the hard money business. No one works harder to find good loans for his investors. This allegation that Dan has somehow embezzled money or intentionally mislead his investors is ludicrous. Dan's disclosure documents are the most professional in the industry. His disclosures are so thick and voluminous that they arrive as a hard-bound book. I'd like to see any investor attacking Dan be hooked up to a lie detector test. No one who has ever invested with Dan can ever honestly say that Dan downplayed or under-disclosed the risk. Dan Harkey has always been straight up with his investors. It's time for those investors seeking preferential treatment to behave in an equally honest manner. -- George Blackburne
	We support you - jumpseat - 3/26/2009 4:15:29 PM
	Like some of the other comments indicate; investors have lost money along with basically every other real estate related enterprise over the past few years. This guy seems like he believes that blackmail through the press and courts is the fastest way to 'score revenege' or to 'get the Genie to restore his cash' instead of recognizing a worldwide problem and working to restore. This is not a Point Center or Mr. Harkey problem. Mr. Harkey is one of the smartest men that I have met and I will follow his lead back to a healthy industry.
	You have always been known as a good guy! - Industry Professional - 3/26/2009 3:10:37 PM
	We have known each other over the years, through industry association meetings and events, etc.. However, I have always known you to be an ethical and above-board professional. I have been reading about your experiences in defending your actions with this irate investor. My sympathies go out to you. I have been in the mortgage loan industry for over 35 years and with that experience you get to know who the good guys are from the bad guys. You have always been known as a good guy. However, as I read of your unfortunate travails, I find this to be an example of when an investor gets angry and goes on a vendetta to punish. I have seen this many times over the years, especially when the market goes south. Such a dilution of time and resources. This what happened to Union Home Loans in the 1980's and the major reason why they shut down. They could not keep up with litigation expenses. Do what ever you can to avoid that black-hole money-pit. I wish you good luck in working this out.
	We are on your side - Mike Christl - 3/26/2009 2:49:16 PM
	We are on your side Dan. I have had several dealings with you in the past and I know you are a good guy. Unfortunately in this market people are losing on their investments and they want to blame the broker. Tell them to go after their stock broker I’m sure they lost more money with him. -- Mike Christl
	hard times are cyclical - starfalcon - 3/26/2009 9:46:30 AM
	The bell curve of standard distribution is applicable to most endeavors. It is always likely, always inevitable it seems, that there is one or two on the extremes of the subject population of interest that are so unlike the rest one wonders how that one came to be included. so it is with the mortgage business. The process is in the selection of the population. Every statistical process developed to make decisions as close to risk free as possible has been applied to this industry, and still "mistakes" are hidden inside the selection. It is part of the business and part of the process. I have come to believe that Pointe Center has taken the best approach that the current state of decision making in the industry has made available. -- bill bennett