I worked with Jim and Karen Frank for about 9 months in 2006 - 2007. I am a broker who was referred to them through another broker I didn't know well. I brought Jim and Karen many projects in that period of time - they act excited and tell your client that there is a very good chance to get funding - before the contract is issued and before the fee is collected by them. They took $7,500 from 3 of my clients and did not follow up, did not provide progress reports and did not provide one LOI or term sheet. They will collect the fee and disappear for weeks without answering phones or email. They will give you every excuse in the book about why they were unavailable - ridiculous amount of excuses. They are highly incompetent and should not be believed or trusted. I have a client who is very angry with them and is suing them. They collect a small fee because it is not worth it to take them to court for a few thousand dollars. Ask them to provide 5 referral clients that they have actually funded - in fact I would ask for 1 deal they have funded - ask to speak to the actual client. Do not accept the Railroad deal in Pennsylvania - this is their deal - not done for a client. They are good talkers but do not believe them - they will never perform. They are not underwriters - they are fee collectors. My clients were very angry with me because of Jim and Karen Frank - they were going to sue me because of the incompetence. Run for the hills if you are referred to this group.
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