[MidnightAdvance]

Hi ALL.
After I got blasted here about a deal that we supposedly tried backdooring, I went out of my way and funded the deal for $75,000.
Today I was informed that the deal was indeed double funded (by TVT), despite the ISO and merchant confirming VIA text email and over the phone that we are taking a first position lien and that there will be no stacking whatsoever.

Not sure what happened, you guys should judge.

[Davincinc]

Didn't read the bashing backdoor post yet, but If they double funded on you and you have a clause that stipulates its prohibited (stacking) , can't you call in the loan with the interest next day?

Also wouldn't you drop the broker who double funded and consider the merchant nama ready.

Really wish their was a Nama for brokers who screw lenders like that visa Versa.

Just saying

[WestCoastFunding]

So after you tried backdooring, you ended up getting screwed? Isn’t that called karma?

[MidnightAdvance]

So after you tried backdooring, you ended up getting screwed? Isn’t that called karma?

Well, no, not quite. ISOs who screw funders like this should take the shame, not the funders who lay out the money.

[J.Celifarco]

Well, no, not quite. ISOs who screw funders like this should take the shame, not the funders who lay out the money.

So what you are saying is that it was OK to try and backdoor the deal to start. If the ISO double funded they are 100% wrong also but doesn't change the fact that you tried to screw the ISO over as well and first. If this is the case you are both wrong.

[CraaaCraaa Radio]

Well, no, not quite. ISOs who screw funders like this should take the shame, not the funders who lay out the money.

What is the iso name?

[WestCoastFunding]

Well, no, not quite. ISOs who screw funders like this should take the shame, not the funders who lay out the money.

Not quite? What does that mean? How is that not quite what happened. It’s really a simple question: did a broker send a deal to your company to fund, and your company backdoored it to YSC? You haven’t denied it. You’ve just thrown out distractions. Richard claims you did. Once and for all, is it true or not?

[CraaaCraaa Radio]

Not quite? What does that mean? How is that not quite what happened. It’s really a simple question: did a broker send a deal to your company to fund, and your company backdoored it to YSC? You haven’t denied it. You’ve just thrown out distractions. Richard claims you did. Once and for all, is it true or not?

Did Midnight send to Yellowstone to white label and provide an offer?

or

Did Midnight send to Yellowstone to get an offer and have an outside iso contact merchant to close the deal?

This is the true question?

[ryan $]

Well, no, not quite. ISOs who screw funders like this should take the shame, not the funders who lay out the money.

So Because your a Funder and put out the money it gives you the right to be shady? And because brokers don't put out money they are "less than" and deserve to be screwed? Or have no right to do the screwing?

Funders should treat Brokers the way they deserve to be treated. Without brokers where would funders be? Brokers literally put food on the table.

There are shady people on both sides.

[WestCoastFunding]

Did Midnight send to Yellowstone to white label and provide an offer?

or

Did Midnight send to Yellowstone to get an offer and have an outside iso contact merchant to close the deal?

This is the true question?

From my understanding, they had contracts with Midnight, but Solomon at midnight sent contracts white labeled from another funder directly to the merchant, cutting out the broker.

If that’s not correct, and it may not, Midnight should feel free to correct. His response has been to act guilty as ****, refuse to comment, and challenge Richard to send him $1M in deals this month.

[MidnightAdvance]

Midnight did not send it to YSC. We never send deals to other funders. We don't white label with anyone. All our deals are done inhouse and inhouse only.
There was however a YSC contract that was flying around, which a few brokers tried to close. Midnight was communicating with one of those brokers, who sent us the deal as well, to find out what's going on and whether this deal is being slammed up with 4 funds in one day (which it was).
The ISO tried blaming us for doing our due diligence, while we tried making right and funded the deal for $75,000. TVT came in with $60,000 today.

[WestCoastFunding]

Midnight did not send it to YSC. We never send deals to other funders. We don't white label with anyone. All our deals are done inhouse and inhouse only.
There was however a YSC contract that was flying around, which a few brokers tried to close. Midnight was communicating with one of those brokers, who sent us the deal as well, to find out what's going on and whether this deal is being slammed up with 4 funds in one day (which it was).
The ISO tried blaming us for doing our due diligence, while we tried making right and funded the deal for $75,000. TVT came in with $60,000 today.

Richard says he has the email chain. Now is the time to produce it. Let’s see if this holds up. Will it?

[CraaaCraaa Radio]

From my understanding, they had contracts with Midnight, but Solomon at midnight sent contracts white labeled from another funder directly to the merchant, cutting out the broker.

If that’s not correct, and it may not, Midnight should feel free to correct. His response has been to act guilty as ****, refuse to comment, and challenge Richard to send him $1M in deals this month.

[RichardGerard]

Hi ALL.
After I got blasted here about a deal that we supposedly tried backdooring, I went out of my way and funded the deal for $75,000.
Today I was informed that the deal was indeed double funded (by TVT), despite the ISO and merchant confirming VIA text email and over the phone that we are taking a first position lien and that there will be no stacking whatsoever.

Not sure what happened, you guys should judge.

Solomon,

You did go out of your way to right something that was wrong. It is my understanding from my ISO- who was on that same thread yesterday (and has spoken with you several times), that he wasn't sure TVT was funding the merchant- so he moved forward with your offer. I have also been told that the wire has not been accepted by the client from TVT, as the client does NOT wish to buy more debt.

What I find most interesting is your concern for what people think about you on this Blog. If you are genuinely concerned about that perception I honestly believe you should refrain from any future back door endeavors in future. It's not good business.

I appreciate you doing the right thing and taking care of my ISO.

[CraaaCraaa Radio]

Midnight did not send it to YSC. We never send deals to other funders. We don't white label with anyone. All our deals are done inhouse and inhouse only.
There was however a YSC contract that was flying around, which a few brokers tried to close. Midnight was communicating with one of those brokers, who sent us the deal as well, to find out what's going on and whether this deal is being slammed up with 4 funds in one day (which it was).
The ISO tried blaming us for doing our due diligence, while we tried making right and funded the deal for $75,000. TVT came in with $60,000 today.

TVT came in with 60k today let me get Warren F from TVT on the line now!!!

[RichardGerard]

Midnight did not send it to YSC. We never send deals to other funders. We don't white label with anyone. All our deals are done inhouse and inhouse only.
There was however a YSC contract that was flying around, which a few brokers tried to close. Midnight was communicating with one of those brokers, who sent us the deal as well, to find out what's going on and whether this deal is being slammed up with 4 funds in one day (which it was).
The ISO tried blaming us for doing our due diligence, while we tried making right and funded the deal for $75,000. TVT came in with $60,000 today.

Lol.. BTW it wasn't Yellowstone- it was Orange that sent the direct contract to client. Spoke with the owner of Orange (who turned the deal down with us the day before) who helped us fill in the blanks.

[ryan $]

Furthermore.... Companies that do 2-8th Positions really shouldnt complain about double funding. I could understand a Principis, a BFS - or some other Tier 1 Lender who is just anti stacking all around... but when you are a company the lives off stacking - YOU REALLY CANT COMPLAIN WHEN YOU GET STACKED

Charge it to the Game. Back Dooring is the issue here - not stacking

[CraaaCraaa Radio]

[QUOTE=RichardGerard;84949]Solomon,

You did go out of your way to right something that was wrong. It is my understanding from my ISO- who was on that same thread yesterday (and has spoken with you several times), that he wasn't sure TVT was funding the merchant- so he moved forward with your offer. I have also been told that the wire has not been accepted by the client from TVT, as the client does NOT wish to buy more debt.

What I find most interesting is your concern for what people think about you on this Blog. If you are genuinely concerned about that perception I honestly believe you should refrain from any future back door endeavors in future. It's not good business.

[RichardGerard]

can forward text thread.. 516 510 3855.. I will text back

[MidnightAdvance]

Furthermore.... Companies that do 2-8th Positions really shouldnt complain about double funding. I could understand a Principis, a BFS - or some other Tier 1 Lender who is just anti stacking all around... but when you are a company the lives off stacking - YOU REALLY CANT COMPLAIN WHEN YOU GET STACKED

Charge it to the Game. Back Dooring is the issue here - not stacking

I agree but not when we get a confirmation VIA email and text that there's no first position in place.

[CraaaCraaa Radio]

I agree but not when we get a confirmation VIA email and text that there's no first position in place.

I laugh at all these bull**** claws of not stacking. And these penalties and adding more on the balance for stacking. No way to stop stacking in this industry.For all that think they can stop the stacking when your stacking already on top of the 1st position, you are lying to your self!!!

[CraaaCraaa Radio]

can forward text thread.. 516 510 3855.. I will text back

share the thread:
Keeping them honest:

[MidnightAdvance]

Disclosing a private text or email without permission on a public forum is against the law. thanks.

[WestCoastFunding]

Disclosing a private text or email without permission on a public forum is against the law. thanks.

A private text? No it isn’t. As for email, it’s not against the law if you provide permission. Go ahead and give him permission to post emails.

....unless you’ve got something to hide?

[MCA beans]

West coast funding. Why are you so interested in publicly shaming midnight, I'm not judging who's right or wrong, but from the looks of things it seems you've got a personal vandetta with solomon from midnight. Who happens to also be a real mensch. Let those involved handle their own issues between themselves unless you are Richards lawyer.