[bdshaw]

What regulations and "laws" would you like see be implemented?

My reccomendations:

1- Registration of REAL lenders. Sift out the "syndication" or "I only fund what I want to fund" lenders.

2- Broker house standards and audits. Whether you lend direct or not, how much personal information is stored unsecured in your office?

3- Training. Everyone is quick to answer forums and say "send it to me- I promise I'll get it funded!" But no one lends their knowledge in teaming up to create something greater. More than half of you don't know what your doing and those that do are hurt by the BS.

Your thoughts? Your concerns? Is anything going in the right direction?

I think the training issue is even more basic. At least 7 of 10 people who contact me through The daily Funder don't know what the word interest means. That means they can't ever give an apple to apple evaluation to their merchant. They lose money because they don't know which deal is the cheapest. I would also train the salespeople to at least understand a basic understanding of other financing options, to once again compare.
I have been reading financial statements for over 40 years and try to pass some knowledge on but inevitably I'm asked about the fees they could earn on a 6% installment loan. Most seem shocked that they can't make 10 points.
Bob