[ElisaMVF]

so Lender A was putting their logo on the clients contracts??
I've never heard of that, but with some of these lenders it's not surprising.

I'm sure there's lot of bad karma out there...

[anonymous]

so Lender A was putting their logo on the clients contracts??
I've never heard of that, but with some of these lenders it's not surprising.

Happens all the time, business as usual...

Lender A sounds like a well established broker (presumably YSC) who primarily brokers deals for other brokers. The actions he/she has taken are needed for that business model to be sustainable.

Don't hate the player, hate the game.

[Jared_Weitz]

Happens all the time, business as usual...

Lender A sounds like a well established broker (presumably YSC) who primarily brokers deals for other brokers. The actions he/she has taken are needed for that business model to be sustainable.

Don't hate the player, hate the game.

Yeah I agree, some models are a "super broker" or "broker/funder" model. Anyone who doesn't agree with or like those models doesn't have to work with such companies. In general, I will say there is a need for companies like that though as we help serve both smaller ISO's and larger funders.

[JSL23]

Yeah I agree, some models are a "super broker" or "broker/funder" model. Anyone who doesn't agree with or like those models doesn't have to work with such companies. In general, I will say there is a need for companies like that though as we help serve both smaller ISO's and larger funders.

Agreed....however they should disclose that they are "super brokers" or "Broker/Lenders" when contact is initiated before they send an ISO agreement and not do things in an underhanded way.

[MCAVeteran]

Agreed....however they should disclose that they are "super brokers" or "Broker/Lenders" when contact is initiated before they send an ISO agreement and not do things in an underhanded way.

Did they disclose on agreement they send deals to other companies or have the right to? Somewhere in that agreement, there prob is a clause that gives them the right to. But I agree, your contact there should tell you who they work with as you may have a relationship already with the direct lenders and get higher commissions renewals etc.

If it is a super broker, although hard to get disclosure, make sure they are solvent or you could get screwed down the road. Check out the BBB on them. How long they have been around, etc -