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11-17-2020, 07:43 PM #1
- Join Date
- Dec 2016
- Posts
- 379
PSF's are a scourge in this industry. Most lenders already take 5% of the funded amount off the top. Now the broker has to go and add another 5%+ on top of that? Now if you have a $10k deal with $500 in lender fees, and then you take a 5% PSF for another $500... that merchants going to feel even more pissed and robbed now that he's netting only $9k when they were sold on the $10k.. stop being ****ing greedy and taking PSF's, it only serves to **** up the renewal and that's if the guy doesn't place a stop payment on day 1.. you get paid commission as it is so suck it up.. a happier merchant is more likely to renew and bank you RESIDUAL dollars, which is something that half the ISO's in this industry forget to think about.. they just want their quick 1time funding and be out..
fools play the short game, kings play the long one.. which are you?
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