I am writing this report on behalf of 8 small residential new home builders in Calgary that currently have builder mortgage loans with Builders Capital Mortgage Corp. in Calgary. This is only the start to the official takedown of these mortgage lending cons! The President is a half native midget named Sandy Loutitt and his partner is John Strangway who hides in the back room!
These two guys or perhaps he-she’s have zero money themselves. They went public on the stock exchange to con innocent investors to place monies in their mortgage fund. Sad part for the investors, these two clowns have absolutely zero underwriting skills! None! They approve loans to some of the worst projects in Calgary, sometimes not even viewing the land or revising the plans!
They pride themselves with quick hassle free lending to builders. In return they charge a hefty 3.5% placement fee and 12% interest rate.
Once they approve your loan amount, they take their full 3.5% fee from your first draw. Then they fund close to your full draw request amounts for the first 6 months then start shorting your draws by nearly 50-75%.
Builders Capital Reviews
I am writing this report on behalf of 8 small residential new home builders in Calgary that currently have builder mortgage loans with Builders Capital Mortgage Corp. in Calgary. This is only the start to the official takedown of these mortgage lending cons! The President is a half native midget named Sandy Loutitt and his partner is John Strangway who hides in the back room!
These two guys or perhaps he-she’s have zero money themselves. They went public on the stock exchange to con innocent investors to place monies in their mortgage fund. Sad part for the investors, these two clowns have absolutely zero underwriting skills! None! They approve loans to some of the worst projects in Calgary, sometimes not even viewing the land or revising the plans!
They pride themselves with quick hassle free lending to builders. In return they charge a hefty 3.5% placement fee and 12% interest rate.
Once they approve your loan amount, they take their full 3.5% fee from your first draw. Then they fund close to your full draw request amounts for the first 6 months then start shorting your draws by nearly 50-75%.