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Mortgage Grapevine

BNP Ovesco???? Jeff Howard??

Can any one shed any REAL light on this company and thier COO Jeffrey Howard. They are asking me for 60k in DD and credit wrap guarantee fees but other than a generic press release I can't find out much about them. Anyone with experience with this company please help!!
by Beingaskedfor60k July 19, 2013 11:41 PM


Where do i send the check?....jerkoff

I asked for information not for wise ass comments. Which by the way is the reason no one posts here anymore
by Beingaskedfor60k July 20, 2013 2:07 PM


http://mortgagegrapevine.com/thread/?thread=591707

http://www.scamadviser.com/check-website/pr.bnp-ovesco.com

http://www.tradekey.com/company/BNP-OVESCO-5939509.html

They claim to be around since 2004

I'd ask them for some trophy confirmation before I gave them a dime.....if they decline for privacy, etc.. I'd go a different way. Be careful giving them potential "clients" list that they can prospect after they pass on your deal. That's my 2cents
by deja vu July 20, 2013 4:55 PM


Can any one shed any REAL light on this company and thier COO Jeffrey Howard.
by Beingaskedfor60k

They asked for 60K
Light is shed


If you want me to think that your request is anything more than a laughable comment post some details about what you're trying to accomplish
There's NO WAY I'm dropping 600 dollars let alone 60K to some dumbass that can't survive on the deals merits alone
Is this some Casino in Madagascar?
Diamond mine?
The guy's an Attorney and that's not who I want holding 60,000 anythings
Know what I mean?
by Sooner Nation July 22, 2013 9:13 PM


Would love to talk to Beingaskedfor60k, I am in a similar situation. Send me an email at trevorpstedman@gmail.com

Thanks
by NeedToKnow4Sure December 7, 2013 9:56 PM


What is the 60K for?
If its for 'due diligence", then you probably should Pass.
However, there are some exceptions. Nowdays the lender usually will not accept the appraisal if it was ordered by the borrower (I cant accept it for example), so we order the appraisal (and market/feasibility studies if the borrower does not have them done yet) and unless we already know the borrower, we prefer to collect the full amount due from the borrower and make the payment to the appraiser, accountant attorney etc (whoever performs the service), but the only reason why we prefer to collect the payment, is because we had borrowers bounce their checks for appraisal that they wrote to appraiser directly and (since it was our company that ordered the appraisal) we were kept liable for the report fee...
But the borrower has the copy of invoice and copy of engagement agreement with the appraiser, so they know exactly what we paying for the reports.

Also I know that that it is customary to collect 1% for the commitment fee. But again you need to know it the lender CAN actually close your deal and you must READ EVERY PARAGRAPH of the commitment letter and watch out for stuff like: "every faxed document must be also sent in via mail or its not considered as received". This would be a dead giveway of the "exit door" con lives for himself.
I know that because we were scammed and I feel stupid (being an attorney by education) not catching it.
You see, we (we are commercial lender, private equity fund and investment manager) can fund up to 10mil, but above 10 mil (which most of our deals are) we have to broker them out. So we brokered the 32mil deal out and fronted 1% of commitment fee (we knew the borrower for a long time, who's money we also have under management), but i missed this language (see above) so when we took the "lender" to court to get our $320,000 back, we lost. Of course we than appealed and got some of the regulators involved, so we recovered the money, but if this would be just some business owner without 50K to spend on an appeal attorney, the money paid would be left in the con's hands!
Anyway, please feel free to contact me to ask me for advise.

by lLex_moneywise January 14, 2014 6:56 PM


Any update on BNP Ovesco and Jeff Howard?? We have recently run across them and was wondering what you found out Beingaskedfor60k, or anyone else? You can send me a private message if you'd like to sherrikiley32@gmail.com
by vjmceo March 17, 2014 1:42 PM


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