Originally Posted by
WhoisKingsley
"Sift Out" - There are many reputable lenders that have been out for a very long time. Have you noticed lately the other companies that come out of left field and want to fund your deals? Where does there money come from? Can they show a proven track record of the deals they funded, default rates, what is their rates? I have a philosophy that if a company solicits and doesn't have a professional package and has complete transparency with you- they are not a real lender. I won't name names, but I've been solicited by many of these. I believe all direct lenders should be apart of NAMAA. All Brokers or Tech companies should be approved by NAMAA. You may disagree but it will happen eventually.
2- I worked for companies that keep socials and tax documents everywhere. You take that and hire without training, don't pay people (which half the time they don't) and you have an "Identity Theft" disaster. I managed a few currency exchange stores a few years ago and audited everyone all the time. Not only money, but scenarios and knowledge. Yes, it was a pain, but I had the highest grossing location and my team kicked butt when the big guys came through and shut down 3 outside locations for not storing bank information correctly. Again, this will probably happen eventually.
3- Everyone attacks those who try to make things better. Jay is a very smart man with an enormous vision of how to implement change. 99% of those who attach are too scared to take the first step. I gladly open my doors and answer my phone/email to assist anyway I can. What many Sales focused people don't realize is that there is many pieces to the puzzle. You have Sales, Submissions (who work hard), UW (who work hard too), marketing teams, content writers... everyone plays an important part and to do things effectively you need MORE THAN ONE PERSON. If you want to do it all, you have to learn it all but some don't want to.
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