Quote Originally Posted by WhoisKingsley View Post
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?


--


1 - Can you clarify what you mean by "sift out"? Is there an issue with syndication (which would reduce stacking), and "I only fund what I want to fund" lenders? If they are, please explain.

2 - That's an issue for everyone, not just brokers, as hackers usually go after the big boys, not the little guys. It'd be helpful to recommend good security software and data protection protocol.

3 - The couple of people/companies that did mention training (MCA Academy, Buynance) seemed to get ridiculed on the forums (I took a potshot myself). Those that do know what they're doing aren't all that willing to share that "superior knowledge" as they're creating competition. So while veterans on this board do give a lot of good insight into the industry as a whole, in multiple aspects, what more information do you feel is not being brought to the light, or would be beneficial for the industry to know as a whole?

As far as direction, the market is indicating that their is still a lot of opportunity for growth, but done the right way. Increasing daily competition, major players preparing to drop anchors, and a couple of quiet developments behind the scenes that will force change on what is considered the normal way to do business, will make the level of entry much more expensive, (right now the cost is simply a PC/Laptop and $100 for a website, email, and phone with auto attendant).