[Fetachini]

Its just an example of an underwriter. Many funders have this in place already. I just will not list all of them. Sorry working deals. premiere has been around for a long time and so has quicksilver.(pioneer) Its all in the underwriting skills. This is what makes funders like quicksilver and premiere still around. math is a universal language and good underwriting will only sustain longevity in this space.

I agree with you 100%. But a lot of these funders rather hire a pretty girl with no experience then to cough up the money for a good underwriter. That's why a lot of these funders are out as fast as they come in.

[stackcity_4208]

I agree with you 100%. But a lot of these funders rather hire a pretty girl with no experience then to cough up the money for a good underwriter. That's why a lot of these funders are out as fast as they come in.

100% agree. if you have an iso division it only benefits the team and the iso to have a serious skilled senior underwriter on the team. Because the back and forth from isos to iso rep can be crazy and what if the iso rep forgets to call isos back. Becomes a problem and bad things are being talked about of the brand (funder)

[A+Paper]

Speaking as an experienced underwriter who has been in this industry and a closely related one for almost 10 years, I wish for the day where funders actually take my thoughts seriously, and I've worked for an A, B and D lender, not to mention major banks. Now that COJs are done, the last week or so has been brutal.

And I agree that companies need to cough up more money for quality underwriters. What I see from other MCAs and the ones I work (ed) for is that they're much happier hiring 10 ISO managers at crazy commission points who cannot read a basic bank statement or contract to fight with the underwriting teams on stupidity instead of focusing on solving the problem.

Where is a plane slowly crashing GIF when I need one?

[BillionzandBillionz]

Speaking as an experienced underwriter who has been in this industry and a closely related one for over 7 years, I wish for the day where funders actually take my thoughts seriously, and I've worked for an A, B and D lender, not to mention major banks. Now that COJs are done, the last week or so has been brutal.

And I agree that companies need to cough up more money for quality underwriters. What I see from other MCAs and the ones I work (ed) for is that they're much happier hiring 10 ISO managers at crazy commission points who cannot read a basic bank statement or contract to fight with the underwriting teams on stupidity instead of focusing on solving the problem.

Where is a plane slowly crashing GIF when I need one?

Usually the issue with Underwriters (especially industry veterans that have bounced from one place to another) is that they are usually just a bunch of paper pushers that do not understand what it takes to run a business. Underwriters are always looking for reasons not to do business, without worrying about the implications of not funding enough deals and getting enough business.

Also why would anyone take your opinion on something that you have no skin in. You have worked for many different funders, yet none of them decided your opinion was worth enough to keep you around. If you were that good, people would make you offers you couldnt refuse.

[pcfunder]

Speaking as an experienced underwriter who has been in this industry and a closely related one for almost 10 years, I wish for the day where funders actually take my thoughts seriously, and I've worked for an A, B and D lender, not to mention major banks. Now that COJs are done, the last week or so has been brutal.

And I agree that companies need to cough up more money for quality underwriters. What I see from other MCAs and the ones I work (ed) for is that they're much happier hiring 10 ISO managers at crazy commission points who cannot read a basic bank statement or contract to fight with the underwriting teams on stupidity instead of focusing on solving the problem.

Where is a plane slowly crashing GIF when I need one?

I'm sure there are a lot of days where you feel like your morning vitamins were accidentally switched with crazy pills. Especially on the days where both the ISO reps and the brokers are arguing over things that make no sense what so ever. Also, what's considered crazy commission and what companies are giving crazy commission to ISO reps? I'm asking for a friend....

[Kevin Henry-Seacoast]

Underwriters become jaded because most business development people never saw a deal they didn't like. Hire good business development people that hunt for good deals that won't be a problem later and that will also do a bunch of heavy lifting before the deal hits the UW's desk......everyone wins.

[tommyC]

These guys are the real deal. Never heard of them before this post, so I decided to do my homework on them and give them a try. The result? F**king amazing. Sent them a tuff deal yesterday at 3pm. Received an offer at 5pm. Sent contracts at 6pm, funded it today at 12pm. They move fast and efficient and as we all know, timing is everything in this game. If anyone signs up with them, make sure to get Alex as a rep, that dude is savage. Also who ever @CraaaCraaa Radio is, appreciate the post man, it was useful ... ENJOY YOUR FRIDAY EVERYONE.

[A+Paper]

Usually the issue with Underwriters (especially industry veterans that have bounced from one place to another) is that they are usually just a bunch of paper pushers that do not understand what it takes to run a business. Underwriters are always looking for reasons not to do business, without worrying about the implications of not funding enough deals and getting enough business.

Also why would anyone take your opinion on something that you have no skin in. You have worked for many different funders, yet none of them decided your opinion was worth enough to keep you around. If you were that good, people would make you offers you couldnt refuse.

I syndicate as well.

And I didn't leave those companies, they closed down. Some superiors fled the country and some went to jail. That's not my problem.

I have many friends who are underwriters, some even better than me, nobody is paying any better than what I am getting currently.

[A+Paper]

Underwriters become jaded because most business development people never saw a deal they didn't like. Hire good business development people that hunt for good deals that won't be a problem later and that will also do a bunch of heavy lifting before the deal hits the UW's desk......everyone wins.

That'd be nice. It will never happen.

[stackcity_4208]

Speaking as an experienced underwriter who has been in this industry and a closely related one for almost 10 years, I wish for the day where funders actually take my thoughts seriously, and I've worked for an A, B and D lender, not to mention major banks. Now that COJs are done, the last week or so has been brutal.

And I agree that companies need to cough up more money for quality underwriters. What I see from other MCAs and the ones I work (ed) for is that they're much happier hiring 10 ISO managers at crazy commission points who cannot read a basic bank statement or contract to fight with the underwriting teams on stupidity instead of focusing on solving the problem.

Where is a plane slowly crashing GIF when I need one?

in the end it's all about the underwriting. The mash potatoes are the renewals, but the steak is the new deals. A very wise man who is a pioneer in the industry always told me that. What the majority of the funders need to understand is the following:

A- ISO Reps are good to have for maintaining the call flow and traffic and networking for the funder (the brand)

B- Having a Senior Underwriter with in the ISO department alleviates alot of traffic back and forth to Underwriters. If the Senior UW sees the request from the iso is justified, that Senior Underwriter can review and have a 2nd UW review to protect conflict of interest. (so they both sign off on it)-- But it just has to make sense!!!

C- Major thing that all iso's love is support and not let me call you back and find out. That is what majority iso's do because they can't underwrite files at all. Leaving the iso's in a realm of waiting and being frustrated. Than the submission flow slows down to that specific funder.


Formula for Longevity:

1. Stellar Underwriting Practices
2. A Great Risk Team (Collections)
3. Communication & Always Following Up with ISO's
4. Motivate the ISO's with Incentives to push more paper to you

[A+Paper]

in the end it's all about the underwriting. The mash potatoes are the renewals, but the steak is the new deals. A very wise man who is a pioneer in the industry always told me that. What the majority of the funders need to understand is the following:

A- ISO Reps are good to have for maintaining the call flow and traffic and networking for the funder (the brand)

B- Having a Senior Underwriter with in the ISO department alleviates alot of traffic back and forth to Underwriters. If the Senior UW sees the request from the iso is justified, that Senior Underwriter can review and have a 2nd UW review to protect conflict of interest. (so they both sign off on it)-- But it just has to make sense!!!

C- Major thing that all iso's love is support and not let me call you back and find out. That is what majority iso's do because they can't underwrite files at all. Leaving the iso's in a realm of waiting and being frustrated. Than the submission flow slows down to that specific funder.


Formula for Longevity:

1. Stellar Underwriting Practices
2. A Great Risk Team (Collections)
3. Communication & Always Following Up with ISO's
4. Motivate the ISO's with Incentives to push more paper to you

Wonderful concept, but does anyone operate this way in practice?

[pcfunder]

Wonderful concept, but does anyone operate this way in practice?

Do you guys want to get together and start a company using these principles?

[Kevin Henry-Seacoast]

That'd be nice. It will never happen.

Already has here....

[stackcity_4208]

Wonderful concept, but does anyone operate this way in practice?

One of the pioneers in the industry started this whole concept. His students followed and branched off, putting his practices in place at different funders. Many Funders have come and gone. He is still around and rocking in the industry!!!

I will leave his name off the funder. He drives a Lexus Truck

[stackcity_4208]

These guys are the real deal. Never heard of them before this post, so I decided to do my homework on them and give them a try. The result? F**king amazing. Sent them a tuff deal yesterday at 3pm. Received an offer at 5pm. Sent contracts at 6pm, funded it today at 12pm. They move fast and efficient and as we all know, timing is everything in this game. If anyone signs up with them, make sure to get Alex as a rep, that dude is savage. Also who ever @CraaaCraaa Radio is, appreciate the post man, it was useful ... ENJOY YOUR FRIDAY EVERYONE.

I funded 2 units with them this week, my iso rep is a guy named Edward. He is also a senior underwriter at HFH. I spoke to an Alex, once when Ed was on the phone. He sounds like quality control over at HFH

[pcfunder]

any of you homies down to get schwasted at a bar in the financial district today? I had a great week and I'm trying to end it with 50 shots of tequila.

[A+Paper]

Already has here....

If you're ever looking to hire, have I got a list of folks for you.

[stackcity_4208]

The Brooklyn and Long Island funders like:








Next Time Closer

[pcfunder]

I'm trying to get white girl wasted that's why I'm going for the tequila

[Don Dolla]

drink 1942

[CraaaCraaa Radio]

These guys are the real deal. Never heard of them before this post, so I decided to do my homework on them and give them a try. The result? F**king amazing. Sent them a tuff deal yesterday at 3pm. Received an offer at 5pm. Sent contracts at 6pm, funded it today at 12pm. They move fast and efficient and as we all know, timing is everything in this game. If anyone signs up with them, make sure to get Alex as a rep, that dude is savage. Also who ever @CraaaCraaa Radio is, appreciate the post man, it was useful ... ENJOY YOUR FRIDAY EVERYONE.

you are welcome. my pleasure to assist

[stackcity_4208]

you are welcome. my pleasure to assist

Very good referral Craaa

[pcfunder]

Does HFH have a commission clawback policy? I’m asking because I checked the courts and there are a ton of recently filed judgments

[stackcity_4208]

Does HFH have a commission clawback policy? I’m asking because I checked the courts and there are a ton of recently filed judgments

my iso agreement states the standard 30 days

[BillionzandBillionz]

send an iso agreement to deals@mainstreetcash.com.

broker