Lender SCAM WARNING!!!

28 Replies

The company Churchill & Forrester, LLC seems legitimate when you're a new investor, the man you speak with there, Ed Franklin, seems wonderful to work with, just know - HE WILL DRAG YOU OUT WEEKS AND WEEKS, MAKE YOU SPEND A BUNCH OF MONEY, THEN NEVER CLOSE.... He's cost me thousands, I'd say when your new you don't need to loose a few more thousand, so run like hell if you ever talk to him.... You've been warned now, by someone with first hand experience from him.

Hi Russell, ok that's fair enough, I just didn't want to write a lot. One thing is, everyone says not to pay something up front, but no one says who will work that way. I paid $2500 to a whosaler for a non refundable deposit, and a additional $1390 to him for his "soft costs", all with his assurance everything would be fine and we would close right on schedule. After having to move the closing 3 times, I finally ran out of time with my whosaler. I just simply think he never had any intention of closing the loan, and I don't need to hear "why would someone try to screw you out of 1300$ on a real estate deal". You do that 10 times a week with new investors all over the country, you can see how that's making a pretty nice living for yourself.

Lender.... I didn't have a bit of trouble with my whosaler, they bent over backwards trying to work with me and let this lender close on the deal. I felt like if a whosaler gave you 6 weeks, and you still didn't have the money in escrow, they probably went above and beyond what they were expected to do.

So are you implying that a wholeseller is in on the scam with your lender? It sure sounds like that' what you are saying.

You paid moneys to your wholeseller, then the lender was not able to close. What was the reason they gave you for falling through with the loan?

I wouldnt throw the word "scam" around unless you have some weight behind it.

What was the reason the loan didn't close?

There are LOTS of reasons loans don't close, not all of them are scams. 

Can you provide some details on what held the loan up.

and it is usually a red flag if you're made to pay loan costs up front 

Maybe start over at the beginning and give some details on what happened with the wholesaler and lender.  I'm having trouble following your story.  I'm not saying you didn't get scammed, just trying to understand what happened.

Ok I guess English isn't someone up theres first language. The whosaler is in S.E. Tennessee, the lender is out of Washington state, I'M NOT SAYING THEY WORKED TOGETHER. As far as the loan not closing, I'm not going to type out all the excuses I heard. The biggest problem was the appraisal he charged me up front for, took him over 2 weeks to get done, then when he did finally get it, it was just a broker opinion instead of a actual appraisal. They pulled comps from over 15 miles away, just so their numbers would come back low (at least that was the opinion of myself, my Agent and her broker) , INSTEAD OF PULLING FROM THE HUNDREDS OF SALES WITHIN 2 MILES. The Lender simply used some appraiser from California probably, on a property from N Georgia. I had explained how "hot" that areas became in the last few year's, and was concerned about just what eventually happened, he got a appraiser from across the country to give him low numbers, so he would have a out....

I don't feel like writing anymore about this, I just wanted any new investor to be aware that Churchill and Forrester is not a viable option if you're looking to get a deal funded.

I have a lot of respect for lenders, I know they are the ones taking the most risk on these deals, but this one's taking money, then getting a low ball appraisal to make it undoable, then costing the new investor a lot of cash in the end. I know this wasn't the smartest way to get a deal funded, but as I said before - people here were just telling folks what to look for, not where to look for it.

@Greg Newson - For someone whose first language isn't English, you're doing just fine. From what you've shared, the problem isn't the lender, it's the appraiser. The question is what you did after the bogus appraisal came in. Did you question it? Did you request another appraisal from a different company? If you did and that wasn't acceptable to them, did you move to another lender? Did you have a backup plan when you went to the lender? 

No I was already at the dead line. I was 2 days away from my 3rd closing when he sent me his broker opinion (not apprasial), that came in at less then half the ARV my agent and her broker who both sell in that area every week gave me. It wasn't just my opinion he had a low ball apprasial come in at the last second, the Agent and her broker had came to that conclusion too, before me. I knew that wasn't the smartest of ways to get a lender, but I'm new and that seemed to be the best option for my situation. I know lenders take risk every time, I don't want to whine about it, I'll just dust myself off and go again... I just wanted to warn new people. I had seen that people had asked if anyone had ever heard of them (the lender), but no answers. Only wanted to spread the word, not start a big conversation. Don't really know my way around bigger pockets to, there may be a better place to put this, just didn't know that either.

Originally posted by @Greg Newson :

Ok I guess English isn't someone up theres first language. The whosaler is in S.E. Tennessee, the lender is out of Washington state, I'M NOT SAYING THEY WORKED TOGETHER. As far as the loan not closing, I'm not going to type out all the excuses I heard. The biggest problem was the appraisal he charged me up front for, took him over 2 weeks to get done, then when he did finally get it, it was just a broker opinion instead of a actual appraisal. They pulled comps from over 15 miles away, just so their numbers would come back low (at least that was the opinion of myself, my Agent and her broker) , INSTEAD OF PULLING FROM THE HUNDREDS OF SALES WITHIN 2 MILES. The Lender simply used some appraiser from California probably, on a property from N Georgia. I had explained how "hot" that areas became in the last few year's, and was concerned about just what eventually happened, he got a appraiser from across the country to give him low numbers, so he would have a out....

I don't feel like writing anymore about this, I just wanted any new investor to be aware that Churchill and Forrester is not a viable option if you're looking to get a deal funded.

I have a lot of respect for lenders, I know they are the ones taking the most risk on these deals, but this one's taking money, then getting a low ball appraisal to make it undoable, then costing the new investor a lot of cash in the end. I know this wasn't the smartest way to get a deal funded, but as I said before - people here were just telling folks what to look for, not where to look for it.

I  think the real motive of this thread is not to warn people of a potential scam, it's just for you to vent that things didn't go your way. You dont' seem to have the patience or will to explain how someone scammed you, but you do have the time to drag their name through the mud, simply because it's easier and you can do it vicariously.  That's very poor manners in my opinion.

To your problem: the appraisal is always paid for by the borrower, and it's ordered by the lender to ensure it's done by a neutral third party. Not sure why anything would take 2 weeks, but ultimately these are vendors you hired so I recommend in the future you not overestimate people. You need to manage your vendors TIGHTLY and just because you expect them to do their job well doesn't mean they will, you have to motivate them or choose your lender better. ineptitude =/= scam. 

as for the low appraisal, sounds like they did a digital benchtop appraisal which they probably want to come in low to save them the risk exposure. This is common on HML and HELOC's specifically, you can usually request a full appraisal at a slightly higher cost.

first off anyone lending in TN has to have a license even for investor loans.. did you check the state for that ?

only up front money should have been appriasial / BPO a few hundred dollars what was the other 1100 or so U sent them for.

don't put Deposits down that are non refundable if financing falls through.. always have a financing contingency and it the nice wholesaler wont do that then find another property..

sounds to me wholesaler just doing the JIVE they do with the non refundable stuff .. and you could have easily gotten with an advanced scheme lender.. 

so what was the other 1100.00 dollars for ??? that's the rub .. not the appraisal per se

I'm a commercial loan broker who has clients beginning to work with Churchill & Forrester. I was amazed at his 100% commercial lending program and assured he'd been in business for over 34 years, so I brought clients his way. After one of my client's deals fell through because of the seller's broker not trusting the program was real, I began to ask Ed for help to prove he's closed these type of files before. I also asked for references for any other brokers he's worked with in this capacity or any clients who have successfully utilized this service. I've received NO RESPONSE, whereas he's typically very responsive, even on the weekends. I have 2 clients who were just approved, each needing to bring roughly $6k up front, so I decided to check out the company online. The LLC has only been around for one year, and there were a few complaints of clients paying the up front fees, only to never close. So to also see the complaint above about the scam, I'm convinced that this is not something I want my clients to be a part of. Take heed to the warning!

Churchill & Forrester, LLC (Definitely a Scam Company and person).  

The principal guy is a fruad and scammer.   With a little reversal searching online, using his web content,  email address,  name, phone numbers, etc.  You can start to connect the dots.  Ed Franklin (if that is his real name) has been at this for years under different companies (See Below).

(using a Wyoming Mail Box Address & Untrackable Business Entity)

Northwest Capital Services, LLC

  • Ed Franklin
    Managing Member

Two Different Sites are the same scam. This guy has been doing this for over 10 years.

https://aegcapitalgroupinc.com https://candfllc.com

Names: Northwest Capital Services, LLC

Cheney, Washington

https://www.ripoffreport.com/r... Franklin is a VERY convincing con man. When you first talk with him he will make it sound like there is every chance in the world you are going to get a loan. He will have you go through many steps that all seem to be legit and leading up to a potential loan. These steps will include submitting business plans, financial statements, etc. Everything you would expect to do in order to get a loan.

Very professional except for one thing that I did notice. He NEVER answers the phone. It ALWAYS goes to voicemail and then he calls back. Should have been a red flag and stopped me right there.

He will ask for a "underwriting fee", "processing fee" or "documentation fee" to be paid to the potential loan company. In my case it was AEG Capital Group in Henderson NV. Then once that payment is made and the check has cleared the fun begins.

Stories of conferences, heart attacks, travel hold-ups, new underwriting procedures being implemented, and all kinds of interesting and very believable events.

In the end you will NEVER see one penny of the money you send to him ever again. Even when he promises to refund it. You will NEVER get a loan and you will have wasted all of your time that could have been better spent elsewhere.

______________________________________________________________________________________________

Avoid Northwest Capital Services, Ed Franklin, AEG Capital Group or be willing to pay the price.

Ed Franklin

POB 1454

SPOKANE, WA 99210

______________________________________________________________________

https://www.scambook.com/repor... Capital Services,LLC (ED Franklin)

Date Occurred: 10/19/2009Reported Damages: $6,166.66 !

ED FRANKLIN Said he could get me financed for a cstore he had me fill out all kinds of paperwork like a business plan and he also had me meet with the sales realtor and the owner .he really had me convinced i would be financed the money i sent was supposed to be due diligence fee the original amount was 9,250.00 dollars but he divided it up into 3 pmnts i made the first one in september of 2009 than he sd he could expedite it if i sent another pmt so i did in october of 2009 i still have my deposit slips showing the transaction than a couple of months passed and he sd c store loans have been put on hold because of the economy well i have tried to keep in touch with him and also asked him for my money back on several ocassions and he still has not responded he has never let me know what was going on with my application i lost all my savings out of this he even had me apply for a business license witch was 250.00 dollars he was very convincing all i want is my money back

_________________________________________________________________________________________________________

https://www.biggerpockets.com/... Newson

posted about 1 month ago

The company Churchill & Forrester, LLC seems legitimate when you're a new investor, the man you speak with there, Ed Franklin, seems wonderful to work with, just know - HE WILL DRAG YOU OUT WEEKS AND WEEKS, MAKE YOU SPEND A BUNCH OF MONEY, THEN NEVER CLOSE.... He's cost me thousands, I'd say when your new you don't need to loose a few more thousand, so run like hell if you ever talk to him.... You've been warned now, by someone with first hand experience from him.

Complaint Type: Delivery Issues

Status: Resolved

06/14/2019

_____________________________________________________________________________________________________________

https://www.bbb.org/us/wy/sher... Franklin said that he was going to provide me funding as long as I paid the $1,165.00 administrative and appraisal fee. 3 weeks later all smoke and mirrors and nothing was done, nothing but stall tactics. I decided to do a little bit of investigating online and discovered that several other people had similar complaints and even more money stolen, this guy needs to be put out of business and thrown in Jail.

Customer Response

06/14/2019

I need to cancel the initial complaint for the time being, the company has reached back out and we're attempting to resolve this dispute. Thx

________________________________________________________________________________________________________________

Complaint Type: Problems with Product/Service

Status: Resolved

01/24/2017

Ed ******** & AEG were paid $1,140.00 by me as a fee to process a loan for a house. The funds were never made available and have requested a refund. Back in Dec. I was going through the process of getting a loan to close on an investment house in ********. (*************.) Ed ******** a Rep with AEG Capital Group charged me $1,140 up front claiming "underwritting fees" to process the loan. They didn't get the deal funded and and Ed wouldn't even give a date that they would be ready to close, so the seller went with another buyer. I have requested a refund of my $1,140 many times and still haven't received it. Ed ******** has one excuse after another, but the last couple of weeks my mails and voice-mails continue to go unanswered. All I want is my money back, since they never provided funding as we disused.

Desired Outcome

I was requested to wire $1,140 into their bank, I just want my $1,140 back in my bank.

Customer Response

03/09/2017

*********** <*********************************> to Better Yes, it has taken a while but he has

______________________________________________________________________________________________

Reply by Ed Franklin on October 2, 2013 at 9:27am

Good Morning,

Please contact me or forward additional information on this loan product.

Thank you,

Ed Franklin

SEO Consulting, LLC

'Business and Financial Consultants'

__________________________________________________________________________________________________

https://www.ripoffreport.com/r... Franklin - SEO Consulting, LLC

2360 Corporate Circle, Ste. 400

Henderson, NV , Nevada

USA

Category: Financial Services

Ed Franklin - SEO Consulting, LLC Ed Franklin, Northwest Capital Ed FranklinSEO Consulting, LLC'Business and Financial Consultants'AEG Capital Group, Inc. This financing request must close within 45 days of the date of this letter or it will become null and void and AEG it's assigns or affiliates shall have no obligation or liability hereunder.Very truly yours,never happened Henderson, Nevada

*Author of original report: Nothing but lies ! never came through

Henderson, Clark County, Nevada, USA

Good Afternoon Marcos,

Here is the paperwork we spoke of. Please have Ms. Hernandez sign and return to me at your earliest convenience. I will then enter into system and forward on for processing.

You will also need to forward the Processing/Underwriting Fee to them. Please wire or make a direct deposit as soon as possible so that processing may begin.

If you wish to send a wire here are those instructions:

AEG Capital Group, Inc.

2360 Corporate Circle, Ste. 400

Henderson, NV 89074

If you wish to make a direct deposit here are those instructions:

AEG Capital Group, Inc.

2360 Corporate Circle, Ste. 400

Henderson, NV 89074 

Congratulations! I thank you for your time and efforts and look forward to working with you.

Best Regards,

Ed Franklin

SEO Consulting, LLC

'Business and Financial Consultants'

Ed Franklin is a VERY convincing con man. When you first talk with him he will make it sound like there is every chance in the world you are going to get a loan. He will have you go through many steps that all seem to be legit and leading up to a potential loan. These steps will include submitting business plans, financial statements, etc. Everything you would expect to do in order to get a loan.

Very professional except for one thing that I did notice. He NEVER answers the phone. It ALWAYS goes to voicemail and then he calls back. Should have been a red flag and stopped me right there.

He will ask for a "underwriting fee", "processing fee" or "documentation fee" to be paid to the potential loan company. In my case it was AEG Capital Group in Henderson NV. Then once that payment is made and the check has cleared the fun begins.

Stories of conferences, heart attacks, travel hold ups, new underwriting procedures being implemented, and all kinds of interesting and very believable events.

In the end you will NEVER see one penny of the money you send to him ever again. Even when he promises to refund it. You will NEVER get a loan and you will have wasted all of your time that could have been better spent elsewhere.

Avoid Northwest Capital Services, Ed Franklin, AEG Capital Group or be willing to pay the price.


Complaint/Consumer Information

Business Information

Churchill & Forrester LLC

30 N Gould St Ste R

Sheridan, WY 82801

Complaint Summary

Complaint Type: Consumer to Business Complaint

Nature of complaint: Delivery Issues

Problem description:

Ed Franklin is a VERY convincing con man. When I/you first talk with him, he gave a verbal approval that he was going to fund the real estate property that we sent him. The then sent a term-sheet that I was able to share with our Board, Attorney, ect. We had 3 other lenders wanting to do business with us and we passed to move forward with this dishonest company (using a Wyoming Mail Box Address & Untrackable Business Entity). He asked us to wire about $4,865 to cover the underwriting (and we did). He will have you go through many steps that all seem to be legit and leading up to a potential loan. These steps will include submitting business documents, financial statements, etc. Everything you would expect to do in order to get a loan. Weeks/Months go by with excuses and delays on everything email contact. After putting some pressure on him, he reapproves the deal pending a property inspection. He did the property inspection (cost $1,000) . The property inspection comes back with normal wear and tear maintenance items and the overall comment from the inspection company was that "The property was in general GOOD Condition". As a professional, I found it odd that no one NEVER answers the phone. It ALWAYS goes to voicemail and then he calls back. It should have been a red flag and stopped me right there. He will ask for an "underwriting fee", "processing fee" or "documentation fee" to be paid to the potential loan company. In my case, it was Churchill & Forrester. But on a reverse search using his web page content, phone numbers, email address, name etc, there like companies that all have scammed numerous people: AEG Capital Group in Henderson NV. Northwest Capital Services, LLC

Two Different Sites are the same scam. This guy has been doing this for over 10 years. https://aegcapitalgroupinc.com https://candfllc.com Names: Northwest Capital Services, LLC Cheney, Washington Then once that payment is made and the check has cleared the fun begins. Stories of conferences, I'm out till next Tuesday, I'm traveling this week, My Partner Died, heart attacks, travel hold-ups, You need to send the newest P&Ls, We are waiting on underwriting, The meeting was pushed out two weeks, new underwriting procedures being implemented, and all kinds of interesting events. In the end, our last discussion was that we would receive the "Closing Documents" within 10 business days from an acceptable property inspection. The property was In general "Good Condition" and that was 4 weeks ago. You can always get money back, but you can never get time back. Ed Franklin has caused me to lose "Profession Capital" with my inner circle of businesspeople. I'm working like hell to find a lender that takes our deal. We started with him in February and it's almost September. The title co. is pissed, My attorneys are pissed, the sellers are pissed, the brokers are pissed, etc.

Desired Resolution: Delivery of Order

Desired Outcome

Fund the deal. And prove me wrong.


Northwest Capital Services, LLC

Two Different Sites are the same scam. This guy has been doing this for over 10 years.

https://aegcapitalgroupinc.com https://candfllc.com

Names: Northwest Capital Services, LLC

Cheney, Washington

https://www.ripoffreport.com/r... Franklin is a VERY convincing con man. When you first talk with him he will make it sound like there is every chance in the world you are going to get a loan. He will have you go through many steps that all seem to be legit and leading up to a potential loan. These steps will include submitting business plans, financial statements, etc. Everything you would expect to do in order to get a loan.

Very professional except for one thing that I did notice. He NEVER answers the phone. It ALWAYS goes to voicemail and then he calls back. Should have been a red flag and stopped me right there.

He will ask for a "underwriting fee", "processing fee" or "documentation fee" to be paid to the potential loan company. In my case it was AEG Capital Group in Henderson NV. Then once that payment is made and the check has cleared the fun begins.

Stories of conferences, heart attacks, travel hold-ups, new underwriting procedures being implemented, and all kinds of interesting and very believable events.

In the end you will NEVER see one penny of the money you send to him ever again. Even when he promises to refund it. You will NEVER get a loan and you will have wasted all of your time that could have been better spent elsewhere.

______________________________________________________________________________________________

Avoid Northwest Capital Services, Ed Franklin, AEG Capital Group or be willing to pay the price.

Ed Franklin

POB 1454

SPOKANE, WA 99210 USA

______________________________________________________________________

https://www.scambook.com/repor... Capital Services,LLC (ED Franklin)

Date Occurred: 10/19/2009Reported Damages: $6,166.66 !

ED FRANKLIN Said he could get me financed for a cstore he had me fill out all kinds of paperwork like a business plan and he also had me meet with the sales realtor and the owner .he really had me convinced i would be financed the money i sent was supposed to be due diligence fee the original amount was 9,250.00 dollars but he divided it up into 3 pmnts i made the first one in september of 2009 than he sd he could expedite it if i sent another pmt so i did in october of 2009 i still have my deposit slips showing the transaction than a couple of months passed and he sd c store loans have been put on hold because of the economy well i have tried to keep in touch with him and also asked him for my money back on several ocassions and he still has not responded he has never let me know what was going on with my application i lost all my savings out of this he even had me apply for a business license witch was 250.00 dollars he was very convincing all i want is my money back

_________________________________________________________________________________________________________

https://www.biggerpockets.com/... Newson

posted about 1 month ago

The company Churchill & Forrester, LLC seems legitimate when you're a new investor, the man you speak with there, Ed Franklin, seems wonderful to work with, just know - HE WILL DRAG YOU OUT WEEKS AND WEEKS, MAKE YOU SPEND A BUNCH OF MONEY, THEN NEVER CLOSE.... He's cost me thousands, I'd say when your new you don't need to loose a few more thousand, so run like hell if you ever talk to him.... You've been warned now, by someone with first hand experience from him.

Complaint Type: Delivery Issues

Status: Resolved

06/14/2019

_____________________________________________________________________________________________________________

https://www.bbb.org/us/wy/sher... Franklin said that he was going to provide me funding as long as I paid the $1,165.00 administrative and appraisal fee. 3 weeks later all smoke and mirrors and nothing was done, nothing but stall tactics. I decided to do a little bit of investigating online and discovered that several other people had similar complaints and even more money stolen, this guy needs to be put out of business and thrown in Jail.

Customer Response

06/14/2019

I need to cancel the initial complaint for the time being, the company has reached back out and we're attempting to resolve this dispute. Thx

________________________________________________________________________________________________________________

Complaint Type: Problems with Product/Service

Status: Resolved

01/24/2017

Ed ******** & AEG were paid $1,140.00 by me as a fee to process a loan for a house. The funds were never made available and have requested a refund. Back in Dec. I was going through the process of getting a loan to close on an investment house in ********. (*************.) Ed ******** a Rep with AEG Capital Group charged me $1,140 up front claiming "underwritting fees" to process the loan. They didn't get the deal funded and and Ed wouldn't even give a date that they would be ready to close, so the seller went with another buyer. I have requested a refund of my $1,140 many times and still haven't received it. Ed ******** has one excuse after another, but the last couple of weeks my mails and voice-mails continue to go unanswered. All I want is my money back, since they never provided funding as we disused.

Desired Outcome

I was requested to wire $1,140 into their bank, I just want my $1,140 back in my bank.

Customer Response

03/09/2017

*********** <*********************************> to Better Yes, it has taken a while but he has

______________________________________________________________________________________________

Reply by Ed Franklin on October 2, 2013 at 9:27am

Good Morning,

Please contact me or forward additional information on this loan product.

Thank you,

Ed Franklin

SEO Consulting, LLC

'Business and Financial Consultants'

__________________________________________________________________________________________________

https://www.ripoffreport.com/r... Franklin - SEO Consulting, LLC

2360 Corporate Circle, Ste. 400

Henderson, NV , Nevada

USA

Web: http://www.aegcapitalgroupinc.com

Category: Financial Services

Ed Franklin - SEO Consulting, LLC Ed Franklin, Northwest Capital Ed FranklinSEO Consulting, LLC'Business and Financial Consultants'AEG Capital Group, Inc. This financing request must close within 45 days of the date of this letter or it will become null and void and AEG it's assigns or affiliates shall have no obligation or liability hereunder.Very truly yours,never happened Henderson, Nevada

*Author of original report: Nothing but lies ! never came through

Henderson, Clark County, Nevada, USA

Good Afternoon Marcos,

Here is the paperwork we spoke of. Please have Ms. Hernandez sign and return to me at your earliest convenience. I will then enter into system and forward on for processing.

You will also need to forward the Processing/Underwriting Fee to them. Please wire or make a direct deposit as soon as possible so that processing may begin.

If you wish to send a wire here are those instructions:

AEG Capital Group, Inc.

2360 Corporate Circle, Ste. 400

Henderson, NV 89074

If you wish to make a direct deposit here are those instructions:

AEG Capital Group, Inc.

2360 Corporate Circle, Ste. 400

Henderson, NV 89074
Congratulations! I thank you for your time and efforts and look forward to working with you.

Best Regards,

Ed Franklin

SEO Consulting, LLC

'Business and Financial Consultants

Ed Franklin is a VERY convincing con man. When you first talk with him he will make it sound like there is every chance in the world you are going to get a loan. He will have you go through many steps that all seem to be legit and leading up to a potential loan. These steps will include submitting business plans, financial statements, etc. Everything you would expect to do in order to get a loan.

Very professional except for one thing that I did notice. He NEVER answers the phone. It ALWAYS goes to voicemail and then he calls back. Should have been a red flag and stopped me right there.

He will ask for a "underwriting fee", "processing fee" or "documentation fee" to be paid to the potential loan company. In my case it was AEG Capital Group in Henderson NV. Then once that payment is made and the check has cleared the fun begins.

Stories of conferences, heart attacks, travel hold ups, new underwriting procedures being implemented, and all kinds of interesting and very believable events.

In the end you will NEVER see one penny of the money you send to him ever again. Even when he promises to refund it. You will NEVER get a loan and you will have wasted all of your time that could have been better spent elsewhere.

Avoid Northwest Capital Services, Ed Franklin, AEG Capital Group or be willing to pay the price.


Complaint/Consumer Information

Business Information

Churchill & Forrester LLC

30 N Gould St Ste R

Sheridan, WY 82801

Complaint Summary

Complaint Type: Consumer to Business Complaint

Nature of complaint: Delivery Issues

Problem description:

Ed Franklin is a VERY convincing con man. When I/you first talk with him, he gave a verbal approval that he was going to fund the real estate property that we sent him. The then sent a term-sheet that I was able to share with our Board, Attorney, ect. We had 3 other lenders wanting to do business with us and we passed to move forward with this dishonest company (using a Wyoming Mail Box Address & Untrackable Business Entity). He asked us to wire about $4,865 to cover the underwriting (and we did). He will have you go through many steps that all seem to be legit and leading up to a potential loan. These steps will include submitting business documents, financial statements, etc. Everything you would expect to do in order to get a loan. Weeks/Months go by with excuses and delays on everything email contact. After putting some pressure on him, he reapproves the deal pending a property inspection. He did the property inspection (cost $1,000) . The property inspection comes back with normal wear and tear maintenance items and the overall comment from the inspection company was that "The property was in general GOOD Condition". As a professional, I found it odd that no one NEVER answers the phone. It ALWAYS goes to voicemail and then he calls back. It should have been a red flag and stopped me right there. He will ask for an "underwriting fee", "processing fee" or "documentation fee" to be paid to the potential loan company. In my case, it was Churchill & Forrester. But on a reverse search using his web page content, phone numbers, email address, name etc, there like companies that all have scammed numerous people: AEG Capital Group in Henderson NV. Northwest Capital Services, 

 Ed Franklin Managing Member Two Different Sites are the same scam. This guy has been doing this for over 10 years. https://aegcapitalgroupinc.com https://candfllc.com Names: Northwest Capital Services, LLC Cheney, Washington Then once that payment is made and the check has cleared the fun begins. Stories of conferences, I'm out till next Tuesday, I'm traveling this week, My Partner Died, heart attacks, travel hold-ups, You need to send the newest P&Ls, We are waiting on underwriting, The meeting was pushed out two weeks, new underwriting procedures being implemented, and all kinds of interesting events. In the end, our last discussion was that we would receive the "Closing Documents" within 10 business days from an acceptable property inspection. The property was In general "Good Condition" and that was 4 weeks ago. You can always get money back, but you can never get time back. Ed Franklin has caused me to lose "Profession Capital" with my inner circle of businesspeople. I'm working like hell to find a lender that takes our deal. We started with him in February and it's almost September. The title co. is pissed, My attorneys are pissed, the sellers are pissed, the brokers are pissed, etc.

Desired Resolution: Delivery of Order

Desired Outcome

Fund the deal. And prove me wrong.


I saw this deal, it came to my shop and it was complete garbage. To get 100% with Ed Franklin, you need 1.35% DSCR. This deal was nowhere near that. Maybe the "investor" should learn how to do math and calculate his DSCR & look at income and expense reports and rent rolls. It's not the lender's job to babysit the "investor". Also, money spent on third party reports are always paid for by the borrower. Hard to know what the real value is without an appraisal. Up-front fees are charged for underwriting, sometimes during underwriting, the ugly truth comes out & the deal is nothing what the borrower thinks or claims it is. You get a lot of false information from the borrower, especially a borrower who doesn't know what he's doing. Sellers will always try to sell for more than what their property is worth & on this deal the property was most definitely not worth what the loan request was. It's easy to blame someone else for your own mistakes, but it's a terrible thing to try and ruin someone's reputation for your own ignorance. This guy is not an investor, he is a consumer. The only thing he is accomplishing is ruining the reputation of a veteran lender of 35 years.

I was introduced to Clarence 'Ed' Franklin of Churchill & Forrester, LLC by a third party that said they had worked with him for years, so I did not vet Clarence 'Ed' Franklin or his company because I did not feel like I needed to. In the beginning I was given a pre-approval letter to present to the sellers of the commercial property I was planning on purchasing. The agreed upon closing date was 9/15/19. Prior to that date I was asked to send in several documents and complete paperwork for the loan. Additionally, I was asked to wire $4,485 to cover the appraisal and various underwriting fees. It still took weeks for the appraisal to happen and even when it did happen it was only an appraisal done by an out of state company that only offers an opinion, just as one of the other complaints stated. I did request to have another appraisal to be completed and it came in over the seller's price, but Ed did not want to give over the information from the appraisal. His excuse, that information is with underwriting and it could take a week to 10 business days to be able to see the appraisal and for the loan to close. A few weeks after missing the original closing date, I was asked for some additional documents. While gathering the documents (which I know now was just busy work) Ed, said that he would be going out for a few days to have a medical procedure completed, but the work on my loan would not stop. I finished gathering the documents and sent them to him so they would still be received and could be processed by the others in his office as he claimed in his absence. On the day that he was supposed to return to the office I sent a follow-up email confirming that he had received all of the items that he had requested. Only to receive an auto-reply that he would not be back in the office for a few more days. I followed-up again in a few more days and again received another auto-reply that he would not return until the following week. At this point it had been sixty plus days since I signed the contract with the sellers and more than a month after the original closing date. When he did finally return, I spoke with him on the phone and he told me everything was with underwriting and that he would have an answer for me in the next day or so. He called the next day and said the same thing and made mention of how bad his health had been and that he may be going out again. That evening, I sent him an email telling him that I had spoken with an attorney and that this has the signs of possible wire fraud and that I was going to file charges against him if he did not send the funding information over to the title company or refund me all of the monies that he had been paid to him within 48 hours. His response was he would refund the money and that he could not get me funded. I asked him for a letter to give to the seller that stated that I had been unable to obtain financing and he refused to do so, saying that I was not being patient and had not given him a chance to finance the loan. He then cost me the earnest money and to date I still have not received a refund from him or his company. He has not returned any of my emails and I have not been able to get him on the phone. He never answered when I called anyway, I always had to wait on a call back, so that does not surprise me. Please do not get involved with this company. Clarence 'Ed' Franklin is probably not even his name. He claimed he had been in business for more than 34 years, but this company has only been around for 2 years and he has had several other companies with different names but the same complaints that he drags things on and on and never actually closes.

Same thing happened to me with Ed Franklin the CONMAN.

I threatened to report him to the SEC and the district attorney and he immediately sent me my money back, $1600. Even though I lost earnest money on the deal  because I could not keep my wholeseller waiting any longer because of the delay in closing dates, maybe you should do the same and actually file a report with the district attorney's office, I plan on doing that today.

Thank you all for the heads up. This guy will not stop his antics unless the people that have been wronged band together to get local and state law enforcement to look more closely into this man’s fraudulent “businesses”. 

I’ll be sure to avoid!