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EC Financial (mortgage broker) called me and convinced me to abandon a deal I was about to close on with another bank, to refinance through them with flagstar bank.We went through the prelimiary stuff, signing the RESPA docs, a $350 appraisal and all other info requests.

We had the rate locked and we were 'good to to go' to use their words.

We had the appraisal and have not heard from them again.It cost $350 for the appriasal and now no-one calls back and I can't get in touch with them.


Monetary Loss: $350.

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Cleveland, Ohio, United States #739732

EC Financial LLC is a true scam.EC Financial has fake loan officers working for there company which is against the law.

They call themselves loan consultants, but anyone that takes a loan application, pull credit, take documents from a client, etc is classified as a loan officer. And without license its against the new laws to work on loans. This is a very unprofessional company. They have there CFO Niki Peris working as a processor, which caused for things to get badly messed up.

I wish someone would go in the office and really take a look and find out how bad things are in there.

I was disgusted with service.I wouldn't tell my enemy to work with them scums.

Cleveland Heights, Ohio, United States #738095

Stay away from EC Financial!

Walnut Creek, Ohio, United States #737540

I have been receiving unsolited calls from EC Financial and we are on the do not call registy. I saved two messages on our answering machine and will pursue charges.


E C Financial 8555 Sweet Valley Dr Ste C, Cleveland, OH 44125.


Hey, We went through the same thing.We had our rate locked in and all of a sudden EC stopped calling us and when we would call them the man was always out sick.

We never heard from them again.

Now they are calling again and I am really against dealing with them again and yet my husband is desperate.I tried to contact the better business people but I don't know where they are located so they won't help me find out anything.

Cleveland, Ohio, United States #732056

-Diary of a Mad Banker-

I am a Nationally Licensed Mortgage Banker. What happened to you is this... They ordered your homes appraisal and the value came in under market value. If Loan to Value does not meet the guidelines for a program qualifications you do not qualify. The lenders and bankers in my business receive BBB complaints against us for this everyday. Lenders can offer excellent rates and incentives but DO NOT control recent home sale values. The appraisal was completed by a Licensed Appraiser from a AMC as well the $350.00 you paid was for a inspected property so no one ripped you off. Look at it from my end. We are out as well if your loan is not closed. Do you think we ring a bell and celebrate when of customers loans come in underwater? Appraisals are a 3rd party cost as well. Customers should educate themselves before they point the finger in the wrong direction. Check and see what type of your you are in currently. There are Streamline NO appraisal programs out.

Natas Copus

King George, Virginia, United States #603631

EC Financial ("ECF")is indeed a slimy, fraudulent operation.One of its employees, Eddie Flynn, called me and said that ECF prequalified me for refinancing my house at a rate lower by .5% than that at which my mortgage company offered me to refinance.

Eddie said for his program my house had to appraise at about $377,000 and that their Virginia appraiser indicated to them he could appraise my house at that. Eddie said he was so certain this would be the case that should the appraisal fall short, he would reimburse me its cost of $480. Eddie sent me a large list of items I would have to provide, something with my extremely busy schedule I worked long and hard to put together. We were in the second month since Eddie's original contact when I sent a large package to ECF.

Eddie told me not to pay that month's mortgage to my company as he said the payment would go toward closing. A friend warned me repeatedly my house could not appraise at the level Eddie had promised and that she believed I was being scammed for an appraisal cost. Wondering if she could be correct, I tape-recorded both Eddie making the promise to reimburse me in the event the appraisal came in short, and also recording his Virginia appraiser telling me on the phone, "You will be OK." After the house appraised way below Eddie's "prediction," he met my request for reimbursement with denials he ever promised any such thing. I e-mailed him, CC'ing the manager Niki Peris, and attaching a sound file...

I then demanded only reimbursement for the appraisal, but the late fees I incurred on paying my mortgage, as well $1000 in savings I lost due to the 2-month delay in the refinancing of my house through my mortgage company.Without going into the details, I will only say that my further interactions with the manager Niki proved as much a slime as Eddie.

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Here we have people always blaming the mortgage broker for there bad experience....its your problem to know whats going on in the real estate market not the loan officer's. How do expect a business to stay in business if noone sales their products its the credit bureau you should be mad at not the mortgage broker...who cares what this owner does in his personal life with his business he takes all the risks not you clean your back yard before you clean his.


All I have to say is "What goes around come's around" Goren Marich is a crooked thief, always has been, and always will be.He has screwed a lot of people throughout his years in business, everyone from customers to employees.

But this seems like the norm in the mortgage industry. I know people that have had business dealings with them and Mr Marich. Predetory Lenders, this guy is the king. I am sure he will be back in this business someday and he will do it again.

Money does things to people, especially when it is other peoples that you are taking.Beware of this guy and his crew


I was a former employee of Equity Consultants and I believe the person writing vicious things about the company and attacking its operators is out strictly for personal vendetta.The companies Mr.

Marich have owned or ran were of the utmost integrity, despite his own personal choices in his private life, which is of no concern here.

I never placed a client in a bad loan or suggested anything other than what would benefit the homeowner. I could say the same with all of my past colleagues.

Equity Consultants was not "ran into the ground" there were business decisions which needed to be made based on the hard hit economy.Most if not all mortgage brokers and warehouse lenders faced the same fate with the housing balloon problem.

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