My 3 partners and I executed a contract with Kevin Lane & America Media Corp. For 1 month of FHA Streamline Leads. Guaranteed 8-10 calls a day, prequalified clients. The cost was $630 upfront and $630 on the closing of our 6th loan. Guaranteed results, apparently he was going to use several methods and media including ads in USA Today to bring the business in. If we didn't close 6 loans we were to be refunded the initial $630 and not responsible to pay the second installment.
We sent the initial payment next day air and Kevin worked on "our media / graphics, print" that was to be going out. He presented me with the final Ad and one I approved it he told me our phones would be ringing shortly. I waited a week or so because I know things like this take time. After 2 weeks I began calling and emailing... All of which were ignored and never returned. I had a theory that he was essentially trying to get more brokers (and their cash) on board to do one big campaign and then pipe the calls out to the respective clients as they come in. Thing is... 2 months later after numerous calls and emails I have not heard from him nor has my phone been ringing with leads.
I guess it's kind of hard to hit that "6 closed loans" mark when I don't receive a single call. What a puny scam too... I mean come on. I'm in commercial lending as well and I talk to borrower that have been scammed out of tens of thousands of dollars in "due diligence" fees. If these guys are crooks they are on the low end of the totem pole.
Still I don't like being ripped off. He's lucky I don't live in El Segundo, that's all I'm saying about that. They had to have scammed several people, can we do a class action again them? Don't go crazy on me if I'm wrong about the law, I'm a banker, not a broker. I'm going to try with the BBB and the city... Maybe small claims, cause I'm not letting this go. Anyone who wants to join me let me know!!! I get emailed on any reports about this chump.
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