Re: J.E.M. Investments - Posted by withheld
Posted by withheld on June 12, 1999 at 05:13:59:
Once upon a time, in Jan 1999, I called FSB about an institutional note buy. For some reason they gave me JEM’s phone number(Liberty Lake, Wash). I was very unfamiliar with note deals, I figured they were a credit checking service for FSB, because the first thing they did was ask for my SSN and written permission to run my credit. They quoted me a 9.5% rate I would be paying on my note. I wanted to think about it. In February I called them back, asked if they still had my file, and they did but they would need to run another credit. Boom, another inquiry. This time they would require an interest rate on the note of 10.5%. Huh? Then, in desperation, a month later a “friend” of mine said he would help me with the note problem I was having, and ran my credit (ouch) again, and lo and behold, took it to JEM after I had told him I had already had a quote from them!! Guess what now it was going to be 11.5%. Good god, that coupled with my experiences with broker brokers calling me off of ANN, its no wonder I think notes bite. Even if Mr. Behle is a very smart and good businessman. And yes I did call Sydney for advice on her way up the star ladder, I had a similar experience. By then, the only thing they could say was my note had been “shopped” too much. HUH?? I guess I will stick with mortgage brokers and the inch thick documentation. 9% interest rate.