[Eddie.deangelis]

Has anyone been able to negotiate CAN to full commission on renewals. I had them budge from 3% - 5% but that's still ****. I think the 50% commission on renewal is a joke. It's the lender basically incentivizing you to bring the client elsewhere and get full commission. It's such bad business and makes no sense. Not very smart in my opinion. There are many many lenders that offer full commission on re-ups and more and more popping up every day so choose your lenders wisely. Once they see the business dropping they will know why and eventually turn around.

[JSL23]

Has anyone been able to negotiate CAN to full commission on renewals. I had them budge from 3% - 5% but that's still ****. I think the 50% commission on renewal is a joke. It's the lender basically incentivizing you to bring the client elsewhere and get full commission. It's such bad business and makes no sense. Not very smart in my opinion. There are many many lenders that offer full commission on re-ups and more and more popping up every day so choose your lenders wisely. Once they see the business dropping they will know why and eventually turn around.

@Eddie-50% on renewal is a joke. One fairly well known Lender offered the same terms to us recently and we just did not sign the ISO Agreement. Same with CAN, if they keep refusing to give you the full amount on renewal (or at least 75%) then F**k 'Em! Just don't sign with them. Now, we are one boutique firm with a handful of people doing about $1-$1.2 million a month. It's spread out, so you have to figure CAN would get 10% of that at most. What do they care? Drop in the bucket to them. But what if all new ISO's stopped signing ISO Agreements with them, how would they feel?

We were visited by a couple of people from one of the Largest, most well known Lenders this week. They asked us why we hardly send anything and we told them because of a weak amount up front and even less on the renewals, we have no incentive to send them your way. They came to our office and told us they are changing it up to a fair buy-rate and same on renewals. They listened to their ISOs and made wholesale changes. Credit to them.

To the Lenders on this board: 50% on the renewals: WHAT'S UP WITH THAT?? Seriously, why would you continue to engage in this practice. You have already made your money and are about to get more; Is it greed? Does it make.....some kind of sense? Help me understand.

[MTY MSI]

In addition to the funders who pay only 50% on renewals the ones that contractually demand 1st right of refusal on every single submission are to be avoided like the plague. As others on this thread have stated perhaps sooner or later they'll realize they're costing themselves business and change their ways but in the case of a behemoth like CAN probably not owing to their large inside sales force. It certainly isn't difficult to find funders willing to pay full commissions on renewals and who don't demand 1st right of refusal on every single submission.