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11-15-2018, 04:33 PM #1
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Lender hoppers
Do you all find yourself when certain people in this industry call you and say "i am now by xxxx" that you think i give it a month to 6 months max.
I dont know if these people just think the grass is greener or they keep getting fired but it is crazy how they still get hired.
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11-15-2018, 04:37 PM #2
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- Dec 2013
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Yep i hear you.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-15-2018, 04:38 PM #3Karen37aGuest
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11-15-2018, 04:39 PM #4
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- Dec 2013
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- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-15-2018, 04:41 PM #5
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11-15-2018, 04:44 PM #6
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- Dec 2013
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- 4,713
we cant send smoke signals up ...we got to many flight paths and it'll be non-stop!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 11:33 AM #7
- Join Date
- Feb 2018
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- 1,349
in general, iso managers that seek out your business have about an average lifespan of 2 years at a co if they are lucky. the main goal of hiring them to begin with is to get their book of business. once the business is developed, they are no longer of value and the co does not want to keep paying them overrides when they can put a warm body making hourly to manage the iso business. this is a practice done at most co's. that is why you see so many folks jump co to co. the other part of this quotas that are not obtainable , thus, grounds to can the rep at will. everyone comes in with rose color glasses only to leave with sour grapes. Than, they take their iso contacts to the newco, and, email you "I am at x co and have this wonderful program send me some deals" rinse, repeat
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11-16-2018, 11:39 AM #8Karen37aGuest
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11-16-2018, 11:43 AM #9Karen37aGuest
Because sometimes when you get a real closer in the business a "real business builder" they fight back to the death and thats how the wars between companies, brokers super isos and base shop happen and sometimes the merchants go with the Broker they like the most no matter how low you drop the rate
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11-16-2018, 11:44 AM #10
LMAO ..... Marcus.
QUOTE=mcaguru;107379]Karen do you have it set up that when someone writes a new thread a siren (deigned by the group that makes fire truck horns) goes off and you slide down the pole to get to your computer to respound ?[/QUOTE]Last edited by Jstarr; 11-16-2018 at 11:48 AM.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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11-16-2018, 11:47 AM #11Karen37aGuest
Marcus old man and the sea. over there..everything he says I attribute to you and that $300 backdooring incident, plus you taking bad bull**** blowup deals after i decliined them and said no
People funding deals that you kill in underwriting behind your back and them defaulting instantly is funny for a while but enough is enoughLast edited by Karen37a; 11-16-2018 at 11:51 AM.
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11-16-2018, 12:03 PM #12
This is pretty spot on. But of course there's some deviation from the norm. When I was an ISO rep at a direct lender, once I had been there for about a year and built a book of about 25 ISO's and started getting a heavy submission flow, the company I was at actually bumped up my override. Wasn't enough to keep me there and I went into the broker world though.
Gary Axisa
Blue Streak Capital, Inc.
PM me for my email
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11-16-2018, 12:08 PM #13Karen37aGuest
All Financial Services work this way. From stocks and bonds to loans to insurance to mca
__
I gave an analogy a long time ago...morie the wig guy...Goodfellas
He had no shot of getting paid
30 years later i am still going. If you are valuable to your funders...make them money $$ you have a 50% chance of survival( defaults come into play), Some will cut your throat no matter what
..find the scorpion and the frog analogies I gave before
This is also why super isos exist
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11-16-2018, 12:09 PM #14
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11-16-2018, 12:10 PM #15Karen37aGuest
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11-16-2018, 12:24 PM #16
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- Nunya
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- 830
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11-16-2018, 01:20 PM #17
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- Oct 2016
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11-16-2018, 01:23 PM #18Karen37aGuest
I do not type random stuff and people who are really in the Financial world ..know/understand what I type.
The more you type the more I realize you were not just "playing along" you really do not understand how things work
You are just a throw the **** against the wall and see what sticks kinda guy
ADD. Which is fine with me. Everyone has their styles. I am a hold onto the book of business like a pitbull, high renewals and go after the merchants to get the money back if they think they are going to default kinda gal
to each their own
we come from different worlds. I am use to having a Fiduciary Responsibility over the money or go to jail if you lose itLast edited by Karen37a; 11-16-2018 at 01:31 PM.
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11-16-2018, 01:33 PM #19
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- Mar 2015
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- Boynton Beach
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See WestCoast...that was not random stuff at all. I do kinda wish she followed-up with another YouTube video.....
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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11-16-2018, 01:35 PM #20Karen37aGuest
again you cant understand what it is to"own" a book of business..you are an employee
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11-16-2018, 01:40 PM #21
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- Mar 2015
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- Boynton Beach
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Um...yes I do. My book of business is very large and very sticky and I get rewarded handsomely for it.
On a side note....I am still collecting investment banking fees from deals I closed prior to joining my current firm. See some know how to structure compensation so you are rewarded on the back end of a deal not just the closing cash......Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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11-16-2018, 01:43 PM #22Karen37aGuest
umm you get paid by the bank and they supply you with everything...when you were an investment banker you were not a "salesperson" bringing the clients and money in like I was
1099 isos are bare balls to the wall cold callers or marketers...using their own money ...no bank backing them
You are not exposed like we are
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11-16-2018, 01:44 PM #23
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- Feb 2018
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- 1,349
nobody owns the book of business unless that is specifically in the contract you signed with a funder. most iso agreements state the opposite. as for w2s, nobody will own anything the day they get chopped its at will unless again, you built that into your employment contract which would be very rare a co would accept those terms. there are iso agreements that literally state that if you don't fund within 90 days, all of your book is gone.
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11-16-2018, 01:46 PM #24Karen37aGuest
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11-16-2018, 01:50 PM #25Karen37aGuest
I separated from Citigroup its clear as day on my resume
went out the door with 500 of my brokers too...had it in writing signed off by lawyers
so play the games you want...and think what you think
People should just play nice-nice with each other...or dont
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