Experience with M&O funding or CPF Funding INC?

Question

Hi everyone,

I've been contacted by a person on Bigger pockets who works for CPF Funding, possibly a subsidiary of M&O Funding, but I cannot find any information regarding the 2 companies. I have requested proof that they are legit, but I wanted to see if anyone had experience with either of these entities?

Or if anyone knows how to go about vetting a Hard Money Lender?

Jay Hinrichs · Answer

careful.. LOTS Of fake lenders work BP face book linkdin etc.

if you cant find anything on them I suspect you may have run into a fake.

the telling clue will be

1. rates too good to really be true or lower than industry norm

2. too quick to approve you..

3. they want a modest deposit up front and give some BS reason why the want it.

4. no website ( although many fraudsters have generic websites website alone does not mean anything.

5. check on licensing.. there are only about 12 states that require licesnes. not sure about our state though

But I would say 95% if you cant find anything on them.. and any of the things I said above are what they are telling you,, cheap rates small up front deposit.. probably not real and you will just lose your 500.00 bucks or whatever

Oh the other great one is you have to buy an insurance policy because your new or a little weak on the financial side.. there are NO insurance policies for private loans if you fail to pay.. that's just another fraudulent payment to a non exisitant entity.

real estate lending has become the new Nigerian prince scam..

Norris B Carswell Jr · Answer

This has been really helpful cause I was also looking for information on both companies and can’t find anything

Jay Hinrichs · Answer

Ok how bout rate.. is it below industry standard in your area would be about 10% and a few points..?

that's a huge red flag as well.

just pop on to lendinghome's website they have really good pricing

so does lima one.. those are national for real lenders you can compare if someone is cheaper then them then I questions it right off the bat.

the only way you can have cheap rates and stay in business is if your like these guys VERY large and make it up in volume..

just be careful don't give out your SS and don't give them any money until you are certain you think they are real.. and they could be.. you have not given any details to help anyone really let you know if they are real or not..

Donald S. · Answer

Thank you Jay, I'll keep a look out to see if they hit any more red flags other than no website. So far he hasn't asked for anything up front.

Experience with M&O funding or CPF Funding INC?

Experience with M&O funding or CPF Funding INC?

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