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12-08-2018, 12:56 PM #1
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
usually if an offer is out over 15 days bfs internal team will call the merchant and close, each lender may give a exclusivity period but BFS does not, they will. example
Broker A submits app 3 months bank - offer sent to broker
Broker b sends SAME App and 3 months bank dl and voided check get same offer and contract.
Broker A will also have the ability to get contracts a piggy back off of broker B's work. Thusly making the brokers fight for the deal to lower commissions and closed the merchants.
I listed a post about this a while ago, but they claim to sense discontinue this practice, but I have learn to sanitize contracts and make sure I have control of client while getting offers.
Unlike YS which uses the first to sign contract rule.
also 7 days if no return contract YS will call you client or affiliate lender house will contact client,
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12-10-2018, 09:39 AM #2
- Join Date
- Apr 2018
- Posts
- 104
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