[J.Celifarco]

some people cant see long term and only see the dollar signs in their eyes . the other thing is if you do not do constant business , then they dont really care about you . now will it create a bad rep if joe basement shop claims they stole his only deal . i doubt it . with the large shops i doubt they ever see their deals being stolen

I see banks stealing deals as an act of desperation. They cant make money just funding submissions so they look for other ways to supplement the income to survive. I also believe these will be the first banks to fold. That said it is brokers who created the problem. By getting a deal in and submitting it to 10 banks you are forcing 10 companies to waste money on resources on a file that they only have a 1 in 10 chance of funding. The broker knows they will probably never fund the deal with 7 of those companies but they submit it anyway.
Over submitting deals to banks forces banks to increase staff to keep up with submissions yet they are not funding most of these deals. This over submitting makes the banks look for ways to monetize all the files they dont fund. I 100% think it is wrong for any bank to steal any deal. There is no way to justify taking someone else's work. That said if the brokers did a better job submitting files to banks where they planned on funding them a lot of these banks may not have had to steal deals to stay in business. The Banks that do this are wrong but I really believe this is where the problem started

[Funder Mark]

I see banks stealing deals as an act of desperation. They cant make money just funding submissions so they look for other ways to supplement the income to survive. I also believe these will be the first banks to fold. That said it is brokers who created the problem. By getting a deal in and submitting it to 10 banks you are forcing 10 companies to waste money on resources on a file that they only have a 1 in 10 chance of funding. The broker knows they will probably never fund the deal with 7 of those companies but they submit it anyway.
Over submitting deals to banks forces banks to increase staff to keep up with submissions yet they are not funding most of these deals. This over submitting makes the banks look for ways to monetize all the files they dont fund. I 100% think it is wrong for any bank to steal any deal. There is no way to justify taking someone else's work. That said if the brokers did a better job submitting files to banks where they planned on funding them a lot of these banks may not have had to steal deals to stay in business. The Banks that do this are wrong but I really believe this is where the problem started

Preach it!! 100% the truth. The majority of deals I see get declined, because the brokers do not know how to look at a deal, and find out which companies have the best chance of getting offers made.

[anonymous]

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