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07-11-2014, 03:22 PM #15
- Join Date
- Apr 2013
- Posts
- 359
Hey guys,
First off, I really appreciate everyone's response. Proud to see a like-minded group here that can look out for each other.
To reiterate - there was nothing wrong with the structure of the deal that should have restricted our commission. I just think it happened to be so large a deal that the funder did not want to add further debt to the deal already that big. But it should all be relative and proportionate, of course.
Once confronting the lender, they took off the restriction and have been otherwise cooperative and helpful. I'm sure they realized we had other options.
I would just caution all the other ISO's out there to stand your ground. It's not as if we have a union so coming here to report these issues is a good asset.
JSL23 - thanks for telling it straight. I think I am going to start a thread on what we ISO's need to start incorporating into our agreements with these lenders. I don't have the time to deal with the BS from deal to deal.
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