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06-28-2018, 01:50 PM #1
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06-28-2018, 02:24 PM #2
- Join Date
- Mar 2016
- Posts
- 657
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06-28-2018, 02:28 PM #3
- Join Date
- Jun 2018
- Posts
- 462
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06-28-2018, 02:32 PM #4
- Join Date
- May 2018
- Posts
- 44
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06-28-2018, 01:59 PM #5Karen37aGuest
I do not have any animosity towards you. You kinda threw yourself into the gladiator pit with sand and a rock for a weapon.
How can you trust the advice of people who are giving you information? Here is mine anyway.
Understand the algorithms and underwriting guidelines and how they apply to the files...then and only then you will be able to decipher if you are being treated fairly or not.
Watch your approval ratios and your closing ratios and if they are way off trying to analyze the reasons why.
Is their a disparity between companies?
Rethink your marketing strategies and adjust to max out profitability not just for yourself but for the funder.
Ask people who their favourite funders are and why...everyone has a different opinion.
This backend part of underwriting and funding is the reason some Isos Brokers are valuable....as an example...you cant expect to walk into a lawyers office every day and get advice for free...the clock starts ticking and you get charged hourly for the advice.
All of these things are solved by getting a mentor or a brokers broker or Super iso above you, who will have skin in the game and a reason for coaching you...or just read past posts or learn from experienceLast edited by Karen37a; 06-28-2018 at 02:02 PM.
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06-28-2018, 01:54 PM #6
- Join Date
- May 2018
- Posts
- 70
On deck - INTERNAL SALES TEAM WILL STEAL YOUR FILE
Strategic
Can capital
Quarterspot
Principis
Iou
1st global - THEY MEAN WELL BUT HAVE LEAKS AND HAVEN'T FULLY PLUGGED THEM YET
BFS - BACKDOOR SHOP
Expansion capital
Uplift capital - HAS RELATIONSHIP WITH ONE OR MORE BROKERS SO CAVEAT EMPTOR
In advance
Lendini
Mantis - BROKERS OUT
Yellow stone - MIGHT AS WELL POST YOUR MERCHANT'S CELL AND EMAIL ON A ****ING BILLBOARD IN TIMES SQUARE
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06-28-2018, 02:09 PM #7
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- Jun 2018
- Posts
- 462
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06-28-2018, 02:15 PM #8Karen37aGuest
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06-28-2018, 02:29 PM #9
- Join Date
- Jun 2018
- Posts
- 462
on deck is top notch in my book we do alot of biz with them never have an issue
but that may be also because from offer time to me getting the merchant to sign doesn't take much time
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06-28-2018, 02:33 PM #10Karen37aGuest
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06-28-2018, 01:58 PM #11
- Join Date
- Feb 2018
- Posts
- 1,349
On deck - we don't work with. didn't like their ISO agreement and policies on renewals
Strategic - have had issues with renewal dept not responding to emails and have seen very poor communication on eligibility.
Can capital- have had zero issues but its a new relationship so time will tell
Quarterspot - no idea never use them
Principis - too tight on UW, so, not much history there .
Iou- never used them
1st global - never used them
BFS - no clue but have read enough on these forums
Expansion capital- never used
Uplift capital - never used but thought they were more of a broker.
In advance - no clue
Lendini - somewhat decent experience but not on renewals
Mantis - never used
Yellow stone - no clue
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06-28-2018, 02:10 PM #12
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- Jun 2018
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- 462
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06-28-2018, 03:02 PM #13
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- Jun 2017
- Posts
- 2,049
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06-28-2018, 04:25 PM #14
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- May 2018
- Posts
- 70
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06-29-2018, 02:02 PM #15
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- Jun 2017
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- 2,049
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06-28-2018, 02:27 PM #16
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- Jun 2018
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- 462
one of the funders i was looking to cut off that keeps getting bashed here just funded a nice sized deal FOR me and quick ugh they kept me on the hook
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06-28-2018, 02:39 PM #17Karen37aGuest
* first person talks loses the sale...the reverse bait and lure with the half twist **
Have a great weekend all
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06-28-2018, 02:42 PM #18
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- Jun 2018
- Posts
- 462
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06-28-2018, 02:46 PM #19Karen37aGuest
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06-28-2018, 03:06 PM #20Karen37aGuest
And why I warned people that they were going to have their book of business taken from them or sold and then get a dear john letter and the ones who fought me to death...got their book taken
and why I give examples of ...back in the 80s when I saw the first book taken....back in the 90s when I saw another one taken...and another and another
And why said say ...5 % are going to make it...leave the 5 % alone...you are getting the other 95% book anyway
So the ones who dont care are not building a book...so have at it with the defaults
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07-09-2018, 11:39 AM #21
- Join Date
- Apr 2015
- Location
- TEXAS
- Posts
- 29
These brokers call our seeded application #:
Gold Standard Funding 470.588.5181
First Class Advance (718)267-2861
AFG Funding Capital (305)857-6956
Diamond Elite Holdings (917)334-7374
Fast Advance Funding (267) 866-7014 MATTHEW HANCOCK | SENIOR UNDERWRITERLast edited by EBLM; 07-09-2018 at 12:42 PM. Reason: added phone numbers
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07-09-2018, 12:00 PM #22
- Join Date
- Dec 2013
- Posts
- 4,713
I have one of the largest Funding houses in the country who claim they use a swervice that stock brokers use to check is there brokers are stealing clients (by making fake clients or etc) and claims Mantis passed the test each time and thats why they use us ! for the B-ZZZ paper!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-09-2018, 12:43 PM #23
- Join Date
- Jun 2018
- Posts
- 462
Mantis has always paid on renewals even when the merchant reaches out to them so kudos for that!!
However you guy decline alot of files in underwriting for the dumbest reasons after the merchant has done coj contracts and the like
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07-09-2018, 12:50 PM #24
- Join Date
- Dec 2013
- Posts
- 4,713
Firstly thanks for that FACT..We pay ISO's even when the emails bounce and i find out they are now selling amway...when you get a decline for a reason you believe is NOT correct please reach-out to me. bizdev@mantis funding.com
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-09-2018, 01:53 PM #25
- Join Date
- Jun 2018
- Posts
- 462
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