[Lmonus]

Couple of points i am taking from this thread so far that we will implement.

-Docusign ( In the works, Currently allowed on 15k or less ) (Iso's own Envelope)
-Ability to speak to Decision maker - No problem
-UW prior to a contract request -90% of the underwriting is done upfront. The other 10% is Banklogin and Background check if the deal is big enough.
- Be the path of least resistance - VC,BL,DL

Looking for more, thanks guys.

[kpeng]

Open communication is a big one. When we tell ISOs and Brokers that they can speak directly to the underwriter on the deal, and not to some ISO Manager gatekeeper, it's usually met with surprise/joy.

Oh, and we have Docusign set up for all of our contracts

[Cashman1]

100%. God bless Docusign.

Marcus, cant stress it enough how much you guys need to start using it.

Docusign would take away Cresthills business!

[mcaguru]

Docusign would take away Cresthills business!

? how so ?

[fundingsmbs]

DocuSign? That's been around for awhile now. Let's try a portal online you get get access to your accounts, balances, % paid down, to really take control of your Folio. Some funders have this and get a lot of business because of it. You can request contracts, adjust upsells, etc etc all through automation. If you aren't willing to invest in technology, your already way behind. If your catering to the one and done broker, it isn't needed, but, for the ISO's who do a lot of business, this is basic stuff needed. ODC, SFS, etc all have this. And, renewals, this has to be open and transparent. If you are going to shut off brokers from this part of the business, you are just asking to be stacked and your business flipped. You have to decide, do you want a true business alliance, or, do you want to create an adversarial relationship.

On the process, yes, there is nothing worse than getting a signed contract and being stipped to death, having the deal declined, or, revised to an absurd amount that will hurt your brand (meaning the ISO) as the merchant will walk. Any funder's that still decline a bulk of deals post signed contracts are prob no longer getting ISO business or very little. Too much competition and options to deal with those headaches anymore.

I will add this- any funder's who we have caught backdooring or selling off the deal come renewal time, are toast. you know who you are.

[mcaguru]

Docusign is in the works for CFG - However some Brokers use it to send out contracts, and that is allowable on deals under 15k...For now.

About the 4th Slow down... its been slow Monday and Tuesday. Today is crazy busy.

Same here its more busy than a normal Thursday ! -- Not sure why is someone closed ?

[Karen37a]

The most important things are to have open communication and transparent underwriting

The ability to have a file "reconsidered" because of additional verifiable positive monetary factors on files right on the edge of funding helps, ...so again communication with underwriting.( or reps or brokers who are in direct contact with underwriting)

Then speed comes into play

[Karen37a]

DocuSign? That's been around for awhile now. Let's try a portal online you get get access to your accounts, balances, % paid down, to really take control of your Folio. Some funders have this and get a lot of business because of it. You can request contracts, adjust upsells, etc etc all through automation. If you aren't willing to invest in technology, your already way behind. If your catering to the one and done broker, it isn't needed, but, for the ISO's who do a lot of business, this is basic stuff needed. ODC, SFS, etc all have this. And, renewals, this has to be open and transparent. If you are going to shut off brokers from this part of the business, you are just asking to be stacked and your business flipped. You have to decide, do you want a true business alliance, or, do you want to create an adversarial relationship.

On the process, yes, there is nothing worse than getting a signed contract and being stipped to death, having the deal declined, or, revised to an absurd amount that will hurt your brand (meaning the ISO) as the merchant will walk. Any funder's that still decline a bulk of deals post signed contracts are prob no longer getting ISO business or very little. Too much competition and options to deal with those headaches anymore.

I will add this- any funder's who we have caught backdooring or selling off the deal come renewal time, are toast. you know who you are.

Hard to sell off Renewals or backdoor Strong Isos or brokers. If you held onto them and didnt get stacked etc ...usually the merchants wants to stay with you not the funder who they really do not know?And if they call the merchant the merchants usually tell on them?

What stops the Broker or iso from just taking the merchant back?

[abfunders]

One thing I would appreciate seeing a lot of co-brokering deals I've done and that I've seen.

There are a lot of funders who may give "JULY BONUSES" - Perhaps volume bonuses for super-ISOs? Something along the lines of an override. Especially the funders who have no outbound sales crews, if a well-known super-ISO brings in a client, perhaps protected the broker

It could be a slippery slope, but it could definitely allow the more experienced brokers to submit full files, rather than sort through the bad stuff. "First line of defense." I've certainly killed deals before sending them.... I've also seen brokers submit deals in an underhanded way just to see if they can get funding before the COJ was filed.

[Karen37a]

I have killed so many files...caught so many shady brokers ...bad paper. I should join the save the trees foundation.

Almost all of them had 700 plus credit scores, never arrested and not even a dui...who would have thunk it

[mcaguru]

I have killed so many files...caught so many shady brokers ...bad paper. I should join the save the trees foundation.

Almost all of them had 700 plus credit scores, never arrested and not even a dui...who would have thunk it

Karen please take me over in here .. there is not enough gigabytes for both of us.

[Karen37a]

Karen please take me over in here .. there is not enough gigabytes for both of us.

Marcus has the fastest stips !! He works all the time...he might be a Marcus bot