[Big Mack]

How many points is National paying now? I'm assuming it's not 20 anymore.

[NoBiggie]

How many points is National paying now? I'm assuming it's not 20 anymore.

I've heard Balboa Capital is paying out up to 17 pts on some deals, but they're a higher tiered lender

[Big Mack]

I've heard Balboa Capital is paying out up to 17 pts on some deals, but they're a higher tiered lender

I was in touch with them a few years ago & at the time they only did equipment leasing. A lot of the equipment finance companies demand that you work through a "super broker" and split commissions with them until you generate enough volume to become a direct ISO.

[josephwilliams]

[below]

[josephwilliams]

Par has been on point during Covid - Paying 15.

Definitely filling a void for me that Everest opened up by not funding

Need those 15 points, lol

Can't forget the 9 points on reverses! They come with our hybrid loc on the side as well most times.

[Akanner]

from Mayfair to IRM to Parr...this post took some interesting turns

I wonder who is next lol

[fundingsmbs]

I agree that the industry standard is up in the air in regards to what funders want to fund and how much they want to fund. The risk level tehy want to incur is at their own discretion. Rightfully so.

As a funder I do not agree with the notion that one can use Covid as an excuse to pay lower than normal commissions. Brokers are losing business just as much as many other business owners across the world right now. In that area, the standard should be kept at a normal industry standard. No one wants to hear from a funder that they are willing to fund but not willing to pay full commission.

i am still hearing from brokers that some funders, are threatening to cutoff brokers, if they don't fund a deal. even if that is less commissions. is that really someone you want to do business with? do they really value your business, does this mean you can shove a bunch of apps to their UW and never fund, no. even in normal times there was an expectation but today, UW is much different

[Akanner]

1) that sounds like bad business practice. They obviously do not value one's business.
2) I would not want to work with a company like that.
3) I am very open to the fact that IRM is a fairly small & new shop. It wouldn't be wise for us to turn people away just beacuse they do not send tons of business. It also wouldnt be wise to lower the number of points we pay from pre covid rates.

Maybe is spoke to broadly with the term "industry standard". rather a company should not lower their commission standard, unless they can handle the push back, or are so dominant that there will be no push back.

[blashley]

what type of deals does Mayfair fund?

[NathanielPaez]

Congrats!

[StealMyDeal]

Don't be like that guy from Mantis that used to self promote on other people's threads.

Whats mantis?