[wallerbusiness]

Hey guys im curious. Has anyone had the experience or know of anyone with the experience of BFS doing deals out the back door?

[WestCoastFunding]

Hey guys im curious. Has anyone had the experience or know of anyone with the experience of BFS doing deals out the back door?

I believe they broker out after two weeks

[ridextreme]

they have a sales division so everything they don't book gets sent into their 3 sales offices after a period of time.

[Matrix1]

I've worked with them on several occasions and I've actually received emails from them where they give you an exact date that if you don't close the deal and it's open for someone else and sometimes they say that on the same email that they send the offer with however I have heard that they do backdoor deals and I don't think it's particularly that company itself but probably just a rouge broker through them other than that I've closed some pretty good deals through them

[Lender Of Gold]

They might be the ultimate example of lender treatment based on history. A couple ISOs I know have gotten paid on renewals that were originated as far as a year ago w/o any maintenance. On the other hand Entrust and their other sales arms are notorious for backdooring, both with rogue agents and inhouse. If you dont plan on making them a consistent lender or aren't 100% sure you'll close the deal with them, buyer beware.

[MCAVeteran]

This has become pandemic throughout this industry with no governing body holding anyone accountable. It has also given rise to a new generation of funders that are seeking opportunity for new broker business.

[WestCoastFunding]

Let's not forget that one of BFS's Florida competitors was on here a few days ago telling everyone that BFS outright "steals files (before the thread was pulled).

What an industry.

[Karen37a]

Edit


If you do get offers from them expect a lot of Stips but great offers. If you can't get the A paper stips you are not going to close.

Ask in advance.

Gl ***

[mcashark]

this recent posting probably says it best about them, They call themselves direct lenders however a good part of the business is farmed out that makes BFS the same as any broker"

[ridextreme]

what about this one "Company has absolutely no relationships with other lenders so the 99% of deals BFS won't fund get flushed down the toilet".

[mcashark]

you believe that Tony, lol, you worked for Entrust/BFS didn't you?

[Jess]

you believe that Tony, lol, you worked for Entrust/BFS didn't you?

What is the deal with BFS? Did they get rid of their CEO and lose their line?

[WestCoastFunding]

What is the deal with BFS? Did they get rid of their CEO and lose their line?

Is their line with Wells Fargo?

[ABC2016]

Yes, they do!
I caught them red handed with a merchant that was a referral from my attorney. Not like a cold-call where he didn't owe me anything. Nicest merchant showed me everything that happened. They went behind my back when I was indeed going to close with them in order to avoid paying me the commission. Stay away!

[LJH365]

this JUST happened to me today. WTF is going on over there?

[The Chosen One]

I'm glad we stopped submitting deals to BFS a while ago. Looks like things haven't improved much.

[fundingsmbs]

they use other entities to capture the business. for example, grp , is an entity they purchased and all the broker business they receive, went/goes to BFS for years. Before GRP, there was GBR out of GA.

[Karen37a]

Some of you are crazy.

Too busy babbling about 100k salaries to try to figure out what the fk happened here in tampa and how elizabeth became karen

And how karen became an iso and charged forward with an army of 1099 nuts

keep giggling like girls about how Karen never had a securites licence and was barred from the financial industry when it wasnt true.

Do you reealize maybe someone started those stories so you all wouldnt get 30 brokers deals?

nope...some too busy pretending to be mr big stuff

mca ...its not a job its an adventure


Those of you who didnt like "karen" the supposed non securites licenced one deal basement wonder....dont like Elizabeth...another new office opening and more brokers

[Karen37a]

https://www.youtube.com/watch?v=6ZZI6-zh0GM


When you fire or terminate everyone to get their book of business, you do not have to give the "whos coming with me" speech.

And when they give the book of business to someone for free( really dont get paid for it) ...thats the classic "selling the dream" smh

Remember you cant sell the dream if you are living the nightmare

[Don Dolla]

BFS takes forever to get done, gives great offers and has a **** ton of people working for them (some bad) deduce what you want

[Sachip24]

they most definitely do...we have caught them 3 times..once you bring it up to them then they will offer extra pts on deals for the next month to make up for it... they do make great offers just make sure you have your merchant locked in solid to only deal with you.

[fundingsmbs]

they most definitely do...we have caught them 3 times..once you bring it up to them then they will offer extra pts on deals for the next month to make up for it... they do make great offers just make sure you have your merchant locked in solid to only deal with you.

you actually will give a company another chance after they tell you "you caught us" . what happens renewal time? noway...

[ISO IZZO]

BFS is done. Just closed their 2nd office in Tampa this week.....

[Nunya]

BFS is done. Just closed their 2nd office in Tampa this week.....

They had two Tampa offices? Seems redundant. How big are they?

[Sachip24]

you actually will give a company another chance after they tell you "you caught us" . what happens renewal time? noway...

its not my call...but those extra pts definitely came in handy.