Doug Fuhrman — Fee Ripoff
Douglas Fuhrman participated with Gary A. Olcha, CCRA in coning a client, John Whitmore, with regards to preparing a presentation package to negotiate reducing the borrower's mortgage balance for a refinance. Mr. Olcha made one phone call to the Bank and then for six months lied about progress that was being made or not being made as in this case. Mr. Fuhrman was compensated $1, 703.00 and Mr. Olcha $6, 147.00.
When both parties were confronted with the fact that absolutely nothing was done to negotiate the lowering the borrower's loan amount they both refused to return their unearned fees. Commercial Lending Corporation returned its fee to the borrower of $4, 226.00.
Stay away from both of these unethical individuals. They will take your unearned fees and run. Doing the right thing does not appear to be in either of these individuals vocabulary.
Beware of Fuhrman's comments about putting together Mortgage Loan Proposal (MLP) to close income producing asset loan transactions. This is a con job as his teacher Olcha never closed any of the MLP's he issued while with CLC for over a year before he was terminated. Olcha used the MLP format as a smoke screen to collect fees that where not earned and paid upfront.