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Comment by Vince M Castro yesterday

I recently replied to the ad by Peter Banks and he responded quickly by email with the application in the email, which is a flag . Then he started calling me back through WhatApp and even called me at 5:45am PST which was unprofessional ;he is in the eastcoast per his email details. Eventually I answered his whatsapp call and he never answered my question on details about his 'repayment plan' but started right away to tell me he charges up font fees which I told him I dont pay up front fees (I was in Loan Officer before and still in the mortgage industry and I know it is illegal to charge up front fees)  I DONT RECOMMEND DEALING WITH THIS SCAMMER. He even sounds like a scammer :)

Comment by Admin on September 16, 2024 at 10:14pm

Joohan Kim. Anybody been scammed by this guy? He sends out emails offering interest rates as low as 2.75% with closings in 1-3 days. He also sends emails without using BCC so the email recipient sees everyone else's email addresses that he is sending his spam to. Huge privacy violation there. I am going to go ahead and delete him from this website right now but look out for him. I don't want to see anyone getting scammed.

Admin

Comment by Alex Williams on September 13, 2024 at 10:12pm

https://www.alignable.com/el-dorado-ar/alternative-funding-lenders-...

Comment by David Kindopp on September 13, 2024 at 9:57pm

Thanks Alex. What "reviews" are you talking about? David

Comment by Alex Williams on September 13, 2024 at 9:13pm

David,

They look to be brokers. Definitely not lending their own money. Reviews are not bad. Jim Keefer's name is mentioned in most reviews which leads me to question whether or not he just uses anonymous email addresses to write his own reviews? Looks like they are a registered corporation in Arkansas with 3 officers, Keefer and 2 others. Guessing Mr. Keefer is tough to deal with?

Alex

Comment by David Kindopp on September 13, 2024 at 8:11pm

Anyone ever heard of a guy named Jim Keefer, Alternative Funding Lendes, Inc. El Dorado Arkansas. I'm having some "interesting" e-mail exchanges with him. Any possible feedback is appreciated.

Thanks.

David

Comment by Monty Yeager on August 29, 2024 at 1:45pm

Silver Hill Funding. Worst customer service ever. Ever! I used them way back in the past and they were ok, very slow but they got the job done. In 2024, I have tried to send them several deals including 2 easy DSCR deals this summer. No calls returned after several messages. Emails never get responded to. They used to have very competitive rates but even their rates are now as high las everyone else. If you want to lose your client due to bad service, use them. If you care about your clients, maybe look at other options. There are many lenders out there that provide better DSCR loans and offer good service to their clients.

Comment by John Pacy on August 16, 2024 at 3:04pm

Has anyone recieved a real loan from Peter Banks ? has anyone actually contacted him ?

thanks 

Comment by Admin on August 7, 2024 at 11:46am

Velocity - Unprofessional, higher rates than their competitors, constant spam emails. Never had account reps as pushy and annoying as those at Velocity. They must be forced to watch videos on how to drive away potential customers. Just my personal thoughts but I would never even consider sending Velocity my business.

Comment by Admin on January 27, 2024 at 8:52pm

I agree with Gregory... If anyone offers "guaranteed funding" they are a scam or at the least a joke and you should run the other way.

There are also some fantastic lenders and brokers on this website. I was able to get a small multifamily deal funded for one of our members last week and had a great experience with a wonderful lender. Unfortunately I cannot give that company a positive review on here because I am now brokering loans myself and don't want to give away my funding sources or I will be out of business. Trust me when I say there are just as many good lenders and brokers as there are bad ones. There are many good people in this business. If you have a great experience please tell us about it, especially if you are a real estate investor (or if your great experience was with me hahaha!).

Thanks for reading and using this website friends!

Comment by Dr G on January 2, 2024 at 11:57am

Do not waste your time with anyone offering "guaranteed" financing; especially when they send you counterfeit proof of funds documents.

Comment by Dr G on November 27, 2023 at 8:00am

Be careful not to waste your valuable time with anyone claiming to be a veteran of the entertainment industry wanting to build a massive studio complex on swamp land in rural Florida.  Same deal has been circulating to many of us for over two years now. 

You will likely be yelled at via email and accused of being a thief when they realize that the only free lunch in this world is the cheese in the mouse trap. 

Comment by Mike Lewis on October 12, 2023 at 1:47pm

Adam Cohen of Saxon Spencer deleted his LinkedIn profile after he was called out for being a thief. Now he posts as Fiona Lavender, but all liks lead to Adam Cohen.

He's going to jail eventually.

Just beware. Adam Cohen and Saxon Spencer are a joke and thieves.

Comment by Dana Korosi on October 11, 2023 at 2:07pm

I was introduced to an alternative/private ,lender by another broker as we were looking to finance a tough deal: foreign national, bridge loan, with some hair on the deal. After sending him the overview and selected financials, he issued a term sheet that included a "due diligence" fee of several thousand dollars. We reviewed the term sheet with our prospect, they wired the fee and we then waited several more days before receiving a list of additional documentation. Again, several days, actually weeks, go by with no word from the "lender". I place a call, get voicemail and then a return email with the message that we would be hearing from one of the associates in the office to order and appraisal.Never heard from the associate. Place another call. Voicemail. After another week or so, a call is set with the lender who I finally speak with. He indicates that his staff will review and get back to me. Another week or two without a call or email. I place several more calls/emails and nothing. Crickets. I finally determine that despite the lenders website extolling their funded deals (which were somewhat dated), this lender is likely a fraud.

After discussing with my client, I email our request to return the fee as we never received any follow up discussions on the deal, no appraisal request. Nada. No reply. A second email goes out with the request for returned funds. Still nothing. Never heard from this group nor did they ever return the funds.

The "lender"; Saxon Spencer Capital. New York.  Adam Cohen. Beware....Stay away.......

Comment by Eloise Romo on October 11, 2023 at 10:35am

I think this is a great idea and a great way to help each other.