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  1. #1
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    Mantis / cresthill

    im curious to hear other peoples experience with them

    my experience with them has been they give some nice approvals but fund 1 out of every 10 signed contracts

    so wondering if its because of my rep or if its the entire company that just doesn't give out approvals that will actually fund

  2. #2
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    in general, if you can't convert apps to funding's , prequals offers mean nothing. what's important is how many signed contracts actually fund. that's a tell tale sign of who you want to do the bulk of your business with. Curious, what are the declination reasons for the 9 signed contracts that didn't fund there

  3. #3
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    Quote Originally Posted by fundingsmbs View Post
    in general, if you can't convert apps to funding's , prequals offers mean nothing. what's important is how many signed contracts actually fund. that's a tell tale sign of who you want to do the bulk of your business with. Curious, what are the declination reasons for the 9 signed contracts that didn't fund there
    there was always another reason

    like i get it your going to have deals that dont fund after you are bringing signed contracts

    but in almost every case were they declined i was able to take to another funder and get the deal funded

  4. #4
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    Bingo ^ don't ever let a signed contract decline let you from going elsewhere to fund it.

  5. #5
    Senior Member Reputation points: 6639 gaxisa's Avatar
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    As much flack as Marcus gets on here (I'd say he brings upon about 90% upon himself), whenever they give me the best approval on a deal, it closes less than two hours upon all docs and stips in. More than satisfied with the work MD does on my files. Only complaint are they're a little heavier on stips for a high risk lender but its worth it when they blow other offers out the water.
    Gary Axisa
    Blue Streak Capital, Inc.
    PM me for my email

  6. #6
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    I see the daily hugh list of signed contracts back-in vast majority get funded...I am the guy that generally believes everything people say if you are having 9 out of 10 deals get killed in final underwriting you need to really ask yourself were are your leads coming from ? are they deals that just got funded the day before and trying to double fund and our underwriters are just catching the deals trying to get double funded ?

    I am not saying you are trying to double fund but evrey day we have deals that got killed because merchant got funded prior to us funding the deal. or merchant is negative or etc. we are from the few funders that have NO capital limitations and hate more then the ISo to have to kill a deal.
    Last edited by mcaguru; 11-16-2018 at 01:52 PM.
    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

  7. #7
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    high risk funder's should never have a 1/10 funded contracts in ratio unless they are literally not even looking at the file until the very end and just shooting spaghetti on wall offers to get contracts in to decline or revise them which is a total waste of time

  8. #8
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    Quote Originally Posted by fundingsmbs View Post
    high risk funder's should never have a 1/10 funded contracts in ratio unless they are literally not even looking at the file until the very end and just shooting spaghetti on wall offers to get contracts in to decline or revise them which is a total waste of time
    yep if we were funding 1 out of 10 deals it would mean we get 300-400 singed contracts a day..would make us largest signed contract funder in the country!
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
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    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  9. #9
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    Quote Originally Posted by mcaguru View Post
    I see the daily hugh list of signed contracts back-in vast majority get funded...I am the guy that generally believes everything people say if you are having 9 out of 10 deals get killed in final underwriting you need to really ask yourself were are your leads coming from ? are they deals that just got funded the day before and trying to double fund and our underwriters are just catching the deals trying to get double funded ?

    I am not saying you are trying to double fund but evrey day we have deals that got killed because merchant got funded prior to us funding the deal. or merchant is negative or etc. we are from the few funders that have NO capital limitations and hate more then the ISo to have to kill a deal.
    your answers a ridiculous

    in your right mind do you think i would bring this to the forum

    if the decline reason was that the merchant had gotten funded elsewhere and trying to double fund? like seriously?

  10. #10
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    Quote Originally Posted by gaxisa View Post
    As much flack as Marcus gets on here (I'd say he brings upon about 90% upon himself), whenever they give me the best approval on a deal, it closes less than two hours upon all docs and stips in. More than satisfied with the work MD does on my files. Only complaint are they're a little heavier on stips for a high risk lender but its worth it when they blow other offers out the water.
    funds in 2 hours? than you have a good rep over there

    because it takes 2-3 hours to get a contract back from my rep lol

  11. #11
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    PM me who your rep is...contracts should be ASAP! unless your asking at 7AM or after hours...However i will meet the team to make sure Contract request are RUSHED!!
    Last edited by mcaguru; 11-16-2018 at 02:06 PM.
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
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    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  12. #12
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    Quote Originally Posted by mcaguru View Post
    PM me who your rep is...contracts should be ASAP!
    its just not a good experience for me with your company there is so much more wrong
    from how long it actually takes to get the offer
    and you guys dont even count the positions that we specifically outline in our submissions (for example we list merchant has 4 positions and your underwriting prices it as a 3rd)

    when we send our subs its all black and white with an MTD for every deal so you can give an accurate offer


    in any case just wanted to hear other experiences

    iam for one done sending anything else in

  13. #13
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    Quote Originally Posted by BROKER TIME View Post
    its just not a good experience for me with your company there is so much more wrong
    from how long it actually takes to get the offer
    and you guys dont even count the positions that we specifically outline in our submissions (for example we list merchant has 4 positions and your underwriting prices it as a 3rd)

    when we send our subs its all black and white with an MTD for every deal so you can give an accurate offer


    in any case just wanted to hear other experiences

    iam for one done sending anything else in
    I cant release more info but we are in the midst of major changes that should of course put us into our next GREATEST phase..so stay tuned !!
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
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    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  14. #14
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    Quote Originally Posted by mcaguru View Post
    I cant release more info but we are in the midst of major changes that should of course put us into our next GREATEST phase..so stay tuned !!
    Seriously, you’ve been saying this for over a year. It’s all talk.

  15. #15
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    Quote Originally Posted by mcaguru View Post
    I cant release more info but we are in the midst of major changes that should of course put us into our next GREATEST phase..so stay tuned !!
    good luck to you with those changes

  16. #16
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    Quote Originally Posted by WestCoastFunding View Post
    Seriously, you’ve been saying this for over a year. It’s all talk.
    you didnt see theyre new changes?


    they now offer a single submission email for both prime & sub prime funding programs

    i get that damn email every day

  17. #17
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    Quote Originally Posted by WestCoastFunding View Post
    Seriously, you’ve been saying this for over a year. It’s all talk.
    well some of the changes have been taking place ...we changed to sub 500 credit! we fund with perhaps the highest # of NSF's!! we made adjustments to fund trucking transportation and construction that others wont fund and etc.
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
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    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  18. #18
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    Quote Originally Posted by fundingsmbs View Post
    Bingo ^ don't ever let a signed contract decline let you from going elsewhere to fund it.
    NEVER!

    we know how this industry works

  19. #19
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    I feel like Mantis funds 9 out of 10 signed contracts I submit.

    With that having been said, Marcus should be kicked in the nuts every few days for no good reason. And he knows it.

  20. #20
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    Quote Originally Posted by BROKER TIME View Post
    NEVER!

    we know how this industry works
    But all issues aside. I talk to perhaps more ISO's / broker then many others in my position and they almost all tell me that deals dying in final underwriting has been increasing across the board with all funders in the last year or two then all the years before that combined..I don't know if now the time to debate why that is happening NOW with all the B-D funding houses.
    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

  21. #21
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    Quote Originally Posted by mcaguru View Post
    yep if we were funding 1 out of 10 deals it would mean we get 300-400 singed contracts a day..would make us largest signed contract funder in the country!
    You're saying you get 4,000 apps per day?


  22. #22
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    Quote Originally Posted by mcaguru View Post
    But all issues aside. I talk to perhaps more ISO's / broker then many others in my position and they almost all tell me that deals dying in final underwriting has been increasing across the board with all funders in the last year or two then all the years before that combined..I don't know if now the time to debate why that is happening NOW with all the B-D funding houses.
    im not finding that issue with other funders that the deal is staying in final underwriting for to long

  23. #23
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    No not 4000 files!
    I was saying if we are funding 1 out of 10 (of course that's not the reality) and in reality we fund 30-40 files per day would mean we are getting back 300-400 contracts a day which we are not !
    Last edited by mcaguru; 11-16-2018 at 02:51 PM.
    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

  24. #24
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    Quote Originally Posted by mcaguru View Post
    No not 4000 files!
    I was saying if we are funding 1 out of 10 (of course that's not the reality) and in reality we fund 30-40 files per day would mean we are getting back 300-400 contracts a day which we are not !
    but any no point did i say you funded 1 out of deals fund was per day


    you kno what they say when you ”assume”

  25. #25
    Senior Member Reputation points: 38639 patrickw's Avatar
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    Well For me Mantis is the last option. After I get declines from 15 funders I send it to Mantis. They killed so many files in final underwriting.
    Patrick Wilson
    Managing Partner
    www.PremierCapitalNetwork.com

    (NO MORE LENDER/FUNDER CALL PLZ)

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