[GoodCustomerService]

Hear the new thing is funders/lenders selling their ISO's submission packages to other ISO's/Lead providers. We got a call from an ISO asking for us to sell our submission packages (App signed within the last week and 3 months of bank statements) at $200 a pop. They said most of the BIG BOYS are doing it. Is this legit?

[freeprocessing]

Please send all leads to leads@backdoor.com

[Kevin Henry-Seacoast]

Hear the new thing is funders/lenders selling their ISO's submission packages to other ISO's/Lead providers. We got a call from an ISO asking for us to sell our submission packages (App signed within the last week and 3 months of bank statements) at $200 a pop. They said most of the BIG BOYS are doing it. Is this legit?

Nobody should be selling anyone's application or bank statements.

[GoodCustomerService]

Nobody should but it sounds like they are.

[Chambo]

Nobody will stop doing it until someone gets pinched and has to pay a fine....or worse

[Nunya]

I can't believe that any legit funder would do this. Risk > Reward. Bigly.

[GoodCustomerService]

Believe it because it's happening. Read your ISO Agreement and know what they can and can't do with your client.

[Michael I]

Believe it because it's happening. Read your ISO Agreement and know what they can and can't do with your client.

I have seen iso agreements that allow the funder to call on the leads , but to sell full apps with socials is highly illegal and no legitimate funder will do that .
A rogue employee possibly

[TopCapital]

Illegal, but they ALL do it (with very few exceptions).