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 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.
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