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Report: #580724

Complaint Review: PARAMOUNT-MORTGAGE OF COLORADO - Greenwood Village Colorado

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  • Reported By: Richard chinje — NASHVILLE Tennessee U.S.A.
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  • PARAMOUNT-MORTGAGE OF COLORADO 5460 S. QUEBEC ST. #35 Greenwood Village, Colorado United States of America

PARAMOUNT-MORTGAGE OF COLORADO JILL EVANS JILL EVANS/PARAMOUNT-MORTGAGE OF COLORADO IS NOT A LENDER, THEY ARE HARD MONEY BROKERS Greenwood Village, Colorado

*Author of original report: Jill Evans/Paramount Mortgage update

*REBUTTAL Individual responds: Jill Evans / Paramount Mortgage of Colorado

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Jill Evans/Paramount Mortgage of Colorado advertise as a direct lender with bank lines of credit to fund loans in their name then sell the loans to a Pension fund, infact this is all a lie, Jill Evans is a fee collector and there is no proof she has ever closed a single loan, I suspect she runs a poncy scheme, she advertises very heavily to brokers nationwide and attracts over 100 brokers a month, when a broker sends a loan application to her she sends back a commitment within 24hrs (Many times even) without reading the application and demanding a 1% commitment fee, soon after your client sends the commitment fee to Jill Evans she immediately starts to avoid you and your client, she stops taking your calls and will nolonger return your phone calls or emails.


I suspect Jill deposits your client's upfront fee into an interest bearing account and while she avoids you the account is earning her interest, six months seems to be her target time to keep the money to earn the maximum earnings, she lies shamelessly and gives you and your client a run around.


I first met Jill in July of 2009 after reading her flatering ad in the Scotsmanguide, she convinced me that she was the best commercial lender around, I immediately sent her 7 files for funding, she approved all the loans and issued commitments in under 24hrs and demanding 1% commitment fees on each file, I suppose my clients sent her over $120,000 in all, as soon as she got the money she stopped taking calls or returning phone calls from me, the borrowers and the brokers who sent me some of the deals


After several weeks of frustration I will managed to get her on the phone by calling from a number that she did not recorgnise, she will tell me anything she thought will make me happy which will all be lies, she was just trying to keep the commitment fees as long as possible, Jill will very often arrange a conference with the borrower to assure him/her that the closing is very imminent and that a little more time is needed which will all be lies as she is just buying time, to assure some of my borrowers that their loan will soon close Jill will also arrange conference calls with the Pension fund (my borrowers and myself) that buys loans from her after they are closed, the only problem is that there is no Pension fund, the voices claiming to be speaking from a Pension fund were people who worked for Jill Evans because they will never give you their full names or the name of the Pension fund the work for.


If Jill Evans had 100 brokers having their borrowers send her $120,000 as in my case she will have $12,000,000 on deposit and if she recives only 4% interest she will receive $480,000 a year or $40,000 per months, after clients get tired of the run around and demand their money back she returns the money without any of the interest she might have earned on the money, I stronly believe this is the way Jill Evans makes her money, I don't know of any one who has successfully closed a loan with Jill Evans, on many occasions Jill Evans will try to broker your loans with other brokers who will contact your borrower and will try to steal the deal by offering the client hard money loans with rates ranging from 11 -12.5% and fees of up to 7% to split with Jill Evans, she had sevaral brokers to contact my borrowers, I will often have one of my borrower call me to relate to me a conversation with a broker who got his information from Jill Evans.


Jill Evans doe not have a line of credit with any bank and does not have a Pension who buys loans from her, she does not have the ability to close a single loans of $100,000.


This woman is a shameless liar and manipulator, she will ruine your relationship with your borrower and kill any future business from that borrower for ever.


One of my clients (Dr. Desai) believing in Jill let his money go hard because Jill got him and the seller of the home he was trying buy on the phone and guaranteed a closing date and when Jill did not perform Dr. Desai lost his earnest money of $50,000.


Just look on the internet (Google Jill Evans) and see the endless number of brokers complaining about this woman, all these brokers can not be wrong, this woman is the devil of the mortgage industry and she needs to be stopped, if you send a deal to Jill Evans you can be sured and I can guaranty it that you will have the same bad experience several brokers and myself have had to endure so painfully. Jill Evans is to be avoided at all costs, don't become her next victim, all the clients I took to Jill Evans and she disapointed them will not deal with me any more for taking them to Jill Evans, based on my experience with Jill Evans I will stay away and run awya from her as fast as possible, I will advise any body to do the same, if you don't you will recret you ever listened to anything she said to you because nothing that comes out of her mouth is true.

This report was posted on Ripoff Report on 03/13/2010 10:08 PM and is a permanent record located here: https://www.ripoffreport.com/reports/paramount-mortgage-of-colorado/greenwood-village-colorado-80111/paramount-mortgage-of-colorado-jill-evans-jill-evansparamount-mortgage-of-colorado-is-no-580724. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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Updates & Rebuttals

REBUTTALS & REPLIES:
1Author
0Consumer
1Employee/Owner

#2 Author of original report

Jill Evans/Paramount Mortgage update

AUTHOR: Richard chinje - (U.S.A.)

POSTED: Friday, April 23, 2010

JILL EVANS/PARAMOUNT MORTGAGE

RIPOFF REPORT UPDATE

This is an update to a ripoff report I filed on 3/22/2010 on Jill Evans/Paramount Mortgage, for the past fwe months Jill Evans has continued working on one of the files involed in the original ripoff report, at this moment she has issued loan closing documents on this one file, the total loan amount is $3,100,000 to close any moment from know.

This closing changes some my opinion about Jill Evans and Paramount Mortgage as it will indicate that they can close in their name even though it has taken over sevens to close. I will owe Jill Evans and Paramount Mortgage an apology for reporting that they are not a direct lender if the loan closes.

The terms and conditions in the original commitment have changed dramatically but my client is satisfied with the new terms and conditions and has accepted the new loan.

I will be back with a new update if the loan closes successfully or if it fails to close.

Thanks for reading this update.

Richard

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#1 REBUTTAL Individual responds

Jill Evans / Paramount Mortgage of Colorado

AUTHOR: Jill M. Evans - (United States of America)

POSTED: Monday, March 22, 2010

March 22, 2010

Response to the broker Richard Chinje. Paramount is a direct lender. We have been a member of the Scottsman Guide for over 4 years. If you would like proof of the loans we have funded you can simply request references and or recorded deeds of trusts that have been recorded showing our name as the lender of record.  For someone who has never met me, sent me loans through other brokers you have no idea who I am or who Paramount is.  You indicate you met me in July of 2009 I have never met you but I did research on you and per the State you are not licensed all the loans that were received by us from you were from other brokers.

Returning phone calls I return calls on files once a week that is all I am capable of doing. In your case you gave the submitting broker and borrower my phone number so I was returning calls to three parties on a weekly basis.  At no time did anyone from my company pose as an officer from the pension fund that buys loans from our warehouse line.  The conference calls are set up by the fund not by me so that would be impossilbe. I have never tried to take a borrower away from a broker who submitted a loan to Paramount. If the information submitted to us by a broker in a case we had with your Mr. Chinje was not verifiable through regular private financing then yes we will offer an alternate loan choice it is up to the borrower if he wants to take the loan he qualifies for. In the case of all of the loans you sent to us they were very incomplete, you never got was what requested by our underwriter and never knew what was going on with the transaction. 

In the case you memtioned for Mr. Desai, you submitted the loan on Oct. 10, 2009 it came from another broker. We issued an approval. You didn't even send in your conditions until November 5, 2009 the closing date was October 31, 2009 your borrowers earnest money per the contract was $13,500.00 there is not a lot I can do if the conditions are even sent in by you until weeks later if your borrower lost his earnest money was was not $50,000.00 then I think you should take some responsibility in this situation, don't you.

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