Wondering what Second position lenders do not require a COJ

**MCABroker123** · 03-26-2018, 11:21 AM

Can anyone help me with this?

**Funder_Abe** · 03-26-2018, 12:08 PM

Originally Posted by MCABroker123

Can anyone help me with this?

Legend Funding does not require a COJ for deals under 50k (unless its construction or transportation then its under 25k that we don't require a COJ)

**FCG** · 03-26-2018, 12:19 PM

If merchant doesn't want to sign a COJ, don't fund them. They are going to run off with the money and your commission will be clawed back.

**J.Celifarco** · 03-26-2018, 12:26 PM

Originally Posted by FCG

If merchant doesn't want to sign a COJ, don't fund them. They are going to run off with the money and your commission will be clawed back.

That seems to be a little extreme.. I have had plenty of merchants who wouldn't sign a coj and paid back with no issues..

**Michael I** · 03-26-2018, 12:31 PM

Originally Posted by FCG

If merchant doesn't want to sign a COJ, don't fund them. They are going to run off with the money and your commission will be clawed back.

not true at all . if that was the case than no first position lender will be in business

**WestCoastFunding** · 03-26-2018, 12:36 PM

Ecg?

**fundingsmbs** · 03-26-2018, 02:08 PM

forward financing doesn't req.

**ryan $** · 03-26-2018, 02:32 PM

Pearl will waive COJs sometimes, just had fundworks waive one as well