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09-24-2014, 02:48 PM #1
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- Join Date
- Sep 2014
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Lenders Stealing Clients / Renewal Commissions
So I've come across a few threads about this concerning some of the better lenders (OD, BFS, and others) and can't help but wonder whether or not they are cutting out the ISOs with good reason. I keep up on my clients/renewals, have great rapport with the reps and haven't had any problem with this. Is it ultimately due to ISOs not disclosing their fees, sending docs that clearly don't meet underwriting guidelines, or just being a pain in the ass? I would guess that as a lender, having an ISO constantly pushing for unqualified clients and charging 10% fees on renewals (losing deals) would result in me cutting them out of the business. I'm not trying to back the lenders here, because if they are stealing clients/renewals without good reason I'd certainly like to know. Does anyone have a legitimate/specific case with a lender they no longer work with? If so, let it be heard and let's see what the lender has to say...
The thread about New Era is what made me ask because it sounded fairly valid until Saul got on there and put the issue to bed.
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