My client and I, as a CRE broker, were in the same situation as previous victims. Found them through Scottsman Guide. They were very nice at first, willing to negotiate. At times, pretending being "firm" on their offer, then using tricks like accidentally taking me off hold to hear them chat about my loan and Byron telling Landon "if this chick doesn't have the LOI signed today, we will back out". After long negotiations, we received an LOI that laid out all the important terms for both parties. Submitted the loan, paid $15K deposited that was extensively discussed before signing with them. It was agreed that the company will provide a breakdown of due diligence costs and will return the unused portion of the deposit to the client if the loan is denied. The transaction was a purchase and required quick closing to which the GCP agreed. 3 weeks later, after not picking up calls or answering emails, Shawn called to explain the denial. He was referring to "3rd party reports" not supporting the estimated value claimed by us (supporting exactly half of the value to be exact) and also a few serious environmental issues, like sewer "outside the window" that came unexpected and disqualified the deal from financing. This sounded especially ridiculous as the piece of raw land that required financing was located in a national park and obviously sewer was out of question. Did they not care to even look at the map??? I requested copies of the reports since there were paid by my client, but was told they were GCP property thus confidential. Shawn said their controller would be calling to take care of the deposit refund, but no one ever called. My client and I sent tons of emails but never heard back. These people certainly deserve a law suit, and I will be happy to participate, if that happens. My dealing with GCP was in early 2016.
Shawn Michael Hammond took funds and never delivered on a loan. Once Due Diligence fees were received Gateway promised a funding. months later no communication or funding. The $15,000 was simply taken with no intention ever of closing this loan. DO NOT UNDER ANY CIRCUMSTANCE SEND THESE GUYS A PENNY. You would be better off donating your funds to charity. This company is nothing but a scam to get your hard money then vanish. I would go into more details but I think you get my point. We have chosen to remain anonymous because we are working with the authorities. Wanted to at least post something so others do not have to go through what we went threw. We started this project back In January 2016. It's now December. These guys are nothing but sheep in Wolf clothes. STAY AWAY FROM SHAWN MICHAEL HAMMOND, BYRON DELOS LUSK, JONATHAN LANDON SWAIN!!!
Twice Gateway Capital took large deposits from my clients without delivering financing!
As a commercial Broker, I was seeking financing to complete the site work in a large, high-end Pacifica subdivision. Another broker brought Gateway’s $10.5 million LOI to the table. Long story short: after taking a $20,000 deposit and completing their due diligence, they could not deliver..
The second time, I called them. They were nice guys—Byron Lusk and Shawn Hammond—and they had a “story” for what had happened. I would give them the benefit of the doubt. This time the transaction was easier. Still they required a $15,000 deposit for a $7.5 mm construction loan. Byron flew out to Healdsburg, with his wife, and it would seem they had a lovely, all-expense paid vacation.
I was told loan docs were being prepared. Loan docs were being reviewed. Loan docs would be out tomorrow. Loan docs would be out next week. But there were no loan docs. Ever. Their capital source had “backed out.” Again.
They said they would return the deposit—both verbally and in writing. But that was 6 months ago,
Who are they? I do not know for sure. I guess they are brokers pretending to be lenders, who give out LOIs, hoping they can find the capital. They take large deposits but do not deliver. They put me and my clients at risk, taking their money, apparently with no scruples. The word unscrupulous comes to mind.
Do not work with Gateway Capital Partners. They will take your money and run. We have a client who we were brokering a loan for. Gateway said they loved the loan (they should. It's a great loan) and issued a term sheet. They setup a dropbox to get all of the loan conditions. All were submitted. They said they were underwriting. They said they could meet the close date or at least close within a day of the target COE. We had conversations with one of the 'partners', Shawn Hammond, worked with the underwriter Landon Swain and one of the other associates, Byron Lusk. We were assured all was on track just four days prior to the scheduled closing. Then three days before they notify us the site inspection wasn't done due to a family emergency. We had been asking for a final loan amount and term sheet for weeks at this point.
No response, other than they were going to prep loan docs so the borrower's attorney could review. Then no further update. The day prior to the scheduled closing, after numerous unreturned phone calls and emails, we get an email from Byron staying Shawn is working on the loan with someone who had not been disclosed to us before, a 'Judson'. We asked for Gateway Capital Partners to reach out to the sellers agent since closing would be delayed due to their fault alone. Again no response. So we reached out to the sellers broker. We have in writing that Gateway Capital would refund the borrower's $15,000 if they didn't fund the loan. We have not heard a thing from them in 5 days at this point. They obviously took the client's money and disappeared, even though we have in writing from them, that they (Gateway Capital Partners) would refund all of the borrower's deposit if they were unable to fund the loan. Which they clearly never had any intention of doing.
Gateway Capital Partners Reviews
Beware of this company, they are a scam. never finished out my loan and now they blocked my calls and wont return emails.
My client and I, as a CRE broker, were in the same situation as previous victims. Found them through Scottsman Guide. They were very nice at first, willing to negotiate. At times, pretending being "firm" on their offer, then using tricks like accidentally taking me off hold to hear them chat about my loan and Byron telling Landon "if this chick doesn't have the LOI signed today, we will back out". After long negotiations, we received an LOI that laid out all the important terms for both parties. Submitted the loan, paid $15K deposited that was extensively discussed before signing with them. It was agreed that the company will provide a breakdown of due diligence costs and will return the unused portion of the deposit to the client if the loan is denied. The transaction was a purchase and required quick closing to which the GCP agreed. 3 weeks later, after not picking up calls or answering emails, Shawn called to explain the denial. He was referring to "3rd party reports" not supporting the estimated value claimed by us (supporting exactly half of the value to be exact) and also a few serious environmental issues, like sewer "outside the window" that came unexpected and disqualified the deal from financing. This sounded especially ridiculous as the piece of raw land that required financing was located in a national park and obviously sewer was out of question. Did they not care to even look at the map??? I requested copies of the reports since there were paid by my client, but was told they were GCP property thus confidential. Shawn said their controller would be calling to take care of the deposit refund, but no one ever called. My client and I sent tons of emails but never heard back. These people certainly deserve a law suit, and I will be happy to participate, if that happens. My dealing with GCP was in early 2016.
Shawn Michael Hammond took funds and never delivered on a loan. Once Due Diligence fees were received Gateway promised a funding. months later no communication or funding. The $15,000 was simply taken with no intention ever of closing this loan. DO NOT UNDER ANY CIRCUMSTANCE SEND THESE GUYS A PENNY. You would be better off donating your funds to charity. This company is nothing but a scam to get your hard money then vanish. I would go into more details but I think you get my point. We have chosen to remain anonymous because we are working with the authorities. Wanted to at least post something so others do not have to go through what we went threw. We started this project back In January 2016. It's now December. These guys are nothing but sheep in Wolf clothes. STAY AWAY FROM SHAWN MICHAEL HAMMOND, BYRON DELOS LUSK, JONATHAN LANDON SWAIN!!!
Twice Gateway Capital took large deposits from my clients without delivering financing!
As a commercial Broker, I was seeking financing to complete the site work in a large, high-end Pacifica subdivision. Another broker brought Gateway’s $10.5 million LOI to the table. Long story short: after taking a $20,000 deposit and completing their due diligence, they could not deliver..
The second time, I called them. They were nice guys—Byron Lusk and Shawn Hammond—and they had a “story” for what had happened. I would give them the benefit of the doubt. This time the transaction was easier. Still they required a $15,000 deposit for a $7.5 mm construction loan. Byron flew out to Healdsburg, with his wife, and it would seem they had a lovely, all-expense paid vacation.
I was told loan docs were being prepared. Loan docs were being reviewed. Loan docs would be out tomorrow. Loan docs would be out next week. But there were no loan docs. Ever. Their capital source had “backed out.” Again.
They said they would return the deposit—both verbally and in writing. But that was 6 months ago,
Who are they? I do not know for sure. I guess they are brokers pretending to be lenders, who give out LOIs, hoping they can find the capital. They take large deposits but do not deliver. They put me and my clients at risk, taking their money, apparently with no scruples. The word unscrupulous comes to mind.
Do not work with Gateway Capital Partners. They will take your money and run. We have a client who we were brokering a loan for. Gateway said they loved the loan (they should. It's a great loan) and issued a term sheet. They setup a dropbox to get all of the loan conditions. All were submitted. They said they were underwriting. They said they could meet the close date or at least close within a day of the target COE. We had conversations with one of the 'partners', Shawn Hammond, worked with the underwriter Landon Swain and one of the other associates, Byron Lusk. We were assured all was on track just four days prior to the scheduled closing. Then three days before they notify us the site inspection wasn't done due to a family emergency. We had been asking for a final loan amount and term sheet for weeks at this point.
No response, other than they were going to prep loan docs so the borrower's attorney could review. Then no further update. The day prior to the scheduled closing, after numerous unreturned phone calls and emails, we get an email from Byron staying Shawn is working on the loan with someone who had not been disclosed to us before, a 'Judson'. We asked for Gateway Capital Partners to reach out to the sellers agent since closing would be delayed due to their fault alone. Again no response. So we reached out to the sellers broker. We have in writing that Gateway Capital would refund the borrower's $15,000 if they didn't fund the loan. We have not heard a thing from them in 5 days at this point. They obviously took the client's money and disappeared, even though we have in writing from them, that they (Gateway Capital Partners) would refund all of the borrower's deposit if they were unable to fund the loan. Which they clearly never had any intention of doing.