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  1. #76
    Miller you are right !!!!!! some straight answers would be great, Looking forward to clear response.... no WBL except some broker in the west coast that supposedly was bought out and a guy that says "Thats not in my group"..... and chambo why close the thread....LET THERE BE LIGHT !!!!!! they are more than welcome to respond... 100% factuall information here and they are more than welcome and or whomever has any info is more than welcome to chime in..... I think the industry apreciates the truth !!!!!! thats what this thread is all about.... If we arent saying the truth they are more than free to respond.

  2. #77

    who else has WBL screwed lately !

    *popcorn*

  3. #78
    so day 3 from original post and still no emails or communication from WBL and no one one here from WBL has shown there face... not even Billy..... I guess they are to BUSY in San Francisco spending our 10k on dinner.

  4. #79
    Just thought I would let you know that WBL did a very similar thing to me as well. Took them over 30 days to pay us our commission which was supposed to be 8 points. I was told the rep I was working with was fired and accused of corporate stealing (Uhh, yeah, not my problem!) They made me sign a new ISO agreement and screwed me on my commission, I ended up only getting 2 points on a 15k deal!

    Anyway, Once I saw your post thought I would get that off my chest!!! These guys are pieces of you know what!!

    THERE IS NO WAY FOR ME TO VERIFY THIS..... BUT I FEEL WE SHOULD SHARE SOME OF THE PRIVATE MESSAGES WE ARE RECEIVING... again this is a direct quote from a direct message, just sharing but cant guarantee if its factual ! I COULD ONLY GUARANTEE OUR CLAIMS ARE FACTUAL ! Is there a pattern forming ? I wonder? SPEAK UP !!!!!!!!

  5. #80
    Administrator Reputation points: 55342 admin's Avatar
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    Thread closed. Your grievance has been heard. Feel free to share the outcome when it happens.

  6. #81
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    Neither Billy nor Raphael are still employed by WBL. Nevertheless, WBL takes seriously its obligations to our business partners, including our obligation to pay ISO commissions when we make loans. It is not our practice to “broker” to any other lender the loans submitted to us as prospective lender by any ISO through our wholesale channel. Our business strategy provides only for our Retail Branch Originations to be “brokered” to other lenders if they do not fit our own lending criteria.

    At this point, we can represent that 1) WBL never funded the Primo loan in question, 2) WBL never placed the loan for funding with any other lender, 3) WBL never received any consideration whatsoever with respect to this loan, 4) Primo, an ISO signed up with WBL, elected to communicate with a former WBL retail employee (Raphael) on this loan instead of dealing directly with their assigned wholesale representative, and 5) WBL has requested that Primo substantiate the basis of their claim of a $10,000 commission they claim was represented to them on this file, and they have yet to produce any evidence, including an email. (Had WBL funded the loan in question, Primo’s ISO commission under their ISO agreement would have been substantially less than $10,000.)

    A a result of the complaint made by Primo cash, WBL launched a forensic investigation of facts surrounding this loan, including the actions of certain staff of WBL. That process is ongoing, and may require further legal process by WBL, and thus will move with the appropriate level of care and diligence (and clearly not to the satisfaction of Primo’s preferred timeframes). When we have completed our review, we will advise Primo (and this thread) of our decision, and other facts/circumstances as we deem appropriate.

    Considering the subject of this thread, we were not surprised to see that there have not been even a single additional submission from the ISO community as to claims of non-payment of what they were due from WBL.

    We at WBL take our obligations very seriously and conduct our business with the highest of ethical and professional standards.


    Alex Gemici
    Managing Director
    World Business Lenders

  7. #82
    Primo Cash is happy to report to the DF community that the issue we reference here has been resolved by WBL to our satisfaction.

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