Results 76 to 100 of 103
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09-06-2019, 10:30 AM #76
- Join Date
- Apr 2013
- Posts
- 245
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09-06-2019, 10:42 AM #77
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)
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09-06-2019, 01:01 PM #78
- Join Date
- Aug 2019
- Location
- Recently un-retired, "shocked" that nothing has changed.
- Posts
- 116
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?Last edited by A+Paper; 09-06-2019 at 01:07 PM.
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09-06-2019, 01:12 PM #79
- Join Date
- Aug 2019
- Posts
- 197
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.
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09-06-2019, 01:13 PM #80
- Join Date
- Jan 2018
- Posts
- 519
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....
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09-06-2019, 01:17 PM #81
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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.
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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09-06-2019, 01:21 PM #82
- Join Date
- Dec 2018
- Posts
- 28
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.
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09-06-2019, 01:24 PM #83
- Join Date
- Aug 2019
- Location
- Recently un-retired, "shocked" that nothing has changed.
- Posts
- 116
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.
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09-06-2019, 01:25 PM #84
- Join Date
- Aug 2019
- Location
- Recently un-retired, "shocked" that nothing has changed.
- Posts
- 116
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09-06-2019, 01:36 PM #85
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
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09-06-2019, 02:19 PM #86
- Join Date
- Aug 2019
- Location
- Recently un-retired, "shocked" that nothing has changed.
- Posts
- 116
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09-06-2019, 02:22 PM #87
- Join Date
- Jan 2018
- Posts
- 519
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09-06-2019, 02:24 PM #88
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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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09-06-2019, 02:24 PM #89
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
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09-06-2019, 02:29 PM #90
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09-06-2019, 02:52 PM #91
- Join Date
- Jan 2018
- Posts
- 519
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.
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09-06-2019, 02:57 PM #92
- Join Date
- Aug 2019
- Location
- Recently un-retired, "shocked" that nothing has changed.
- Posts
- 116
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09-06-2019, 02:58 PM #93
The Brooklyn and Long Island funders like:
Next Time Closer
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09-06-2019, 03:06 PM #94
- Join Date
- Jan 2018
- Posts
- 519
I'm trying to get white girl wasted that's why I'm going for the tequila
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09-06-2019, 04:19 PM #95
- Join Date
- Dec 2017
- Posts
- 397
drink 1942
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09-06-2019, 06:02 PM #96Disclaimer
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World of MCA
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___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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09-10-2019, 10:53 AM #97
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09-12-2019, 11:30 AM #98
- Join Date
- Jan 2018
- Posts
- 519
Does HFH have a commission clawback policy? I’m asking because I checked the courts and there are a ton of recently filed judgments
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09-12-2019, 11:58 AM #99
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09-25-2019, 09:40 AM #100
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