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08-22-2018, 07:09 PM #11jotucker1983Guest
I don't know if I completely agree with that lol. You can look up various reports about where most of the funding volume is going these days and where it's being generated, it's not coming from the traditional "cold calling" external broker model. The A/B Paper Funders are where the majority of the volume of the space is being generated with a large chunk of that coming from in-house origination, then many of those Funders have direct relationships with C/D Papers to send declines to.
I just disagree with the notion that a client with a 650 - 700 credit score, solid banks, no liens, and solid sales revenues, is just going to "take" whatever offer is first spit out at him without trying to get some sort of idea of what the marketplace is likely to price.
So just to clarify, you sent a deal to On Deck this week with let's say the annual gross sales being $500,000 and they approved him for $200,000? If so, can you PM me the name of your On Deck Account Rep because I might need a new one lol.
The highest 1st position approvals I've seen were at 10% to 15%.
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