End of the Month, Funding Frenzy
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  1. #1
    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    End of the Month, Funding Frenzy

    The end of the month is here and the funders are going nuts!! What makes your file effective to be funded is you the agent always being one step ahead of the funder.

    Have that MTD ready!! ( If it looks weak tell the merchant make a deposit asap)
    Have the payback months ready!! (review the payback months yourself prior to sending)
    Depending on deal size request full financials ahead of time so if merchant has to reach out to accountant and request it doesn't waste a day to fund.


    Know your file so when a lease or landlord verification is requested, and the merchant owns the property you already have the mortgage statement and or the property tax bill ready to send!!

    At times agents say the funder is asking for this and that but you should know from jump what you need to fund.

    Get on it and Fund Fund Fund!

    Getting all your stipulations in order ahead of time and or forecasting other stps that may be requested will determine if your file funds today or tomorrow or the day after that
    Last edited by CraaaCraaa Radio; 11-27-2017 at 10:51 PM.
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  2. #2
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    Point in play?
    High risk paper

  3. #3
    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Quote Originally Posted by MidnightAdvance View Post
    Point in play?
    3 days left for the month. End of the month crunch on files to fund ratio. Get on the ball so the deals fund snapper!!!
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  4. #4
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    Quote Originally Posted by CraaaCraaa Radio View Post
    The end of the month is here and the funders are going nuts!! What makes your file effective to be funded is you the agent always being one step ahead of the funder.

    Have that MTD ready!! ( If it looks weak tell the merchant make a deposit asap)
    Have the payback months ready!! (review the payback months yourself prior to sending)
    Depending on deal size request full financials ahead of time so if merchant has to reach out to accountant and request it doesn't waste a day to fund.


    Know your file so when a lease or landlord verification is requested, and the merchant owns the property you already have the mortgage statement and or the property tax bill ready to send!!

    At times agents say the funder is asking for this and that but you should know from jump what you need to fund.

    Get on it and Fund Fund Fund!

    Getting all your stipulations in order ahead of time and or forecasting other stps that may be requested will determine if your file funds today or tomorrow or the day after that
    Landlord verification? Mortgage statements? Property tax bill? What are those?

    COJ scan is all we need. SUPER quick funding. Tell em CraaaCraaa

  5. #5
    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Quote Originally Posted by AdvanceFund View Post
    Landlord verification? Mortgage statements? Property tax bill? What are those?

    COJ scan is all we need. SUPER quick funding. Tell em CraaaCraaa
    It is something I always tell my agents Dave, just know the funder you are dealing with and what stps are needed this way the funding process is swift and easy. Especially when its end of month and now your having the merchant get more docs last minute because you didnt coordinate or forecast what else might be needed from funder.

    Know your lenders/funders

    ML FACTORS IS ALWAYS A QUICK FUNDING TURN AROUND


    If you want to know who Dave is give him a shout and send him just the bank statements on the file with no app. They will still provide numbers for funding. Great team to work with!!!
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    CraaaCraaa Radio ®

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    World of MCA
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    ___________________________
    "Success is a lousy teacher. It seduces smart people into thinking they can't lose."

  6. #6
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    Quote Originally Posted by CraaaCraaa Radio View Post
    It is something I always tell my agents Dave, just know the funder you are dealing with and what stps are needed this way the funding process is swift and easy. Especially when its end of month and now your having the merchant get more docs last minute because you didnt coordinate or forecast what else might be needed from funder.

    Know your lenders/funders

    ML FACTORS IS ALWAYS A QUICK FUNDING TURN AROUND


    If you want to know who Dave is give him a shout and send him just the bank statements on the file with no app. They will still provide numbers for funding. Great team to work with!!!
    It's important for funders to also do their underwriting and to be as clear as possible up front regarding the stips. There are times when we require an AR summary for construction for instance but we do our best to minimize stips and communicate efficiently.

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