[MCN]

I don't notice any comments on the responsibility of brokers to bring files to the table that
are viable. Readable applications, complete bank statements, know what the funders requirements, etc.

feel free to make a thread on that. Its an interesting discussion as well. By posting that here you just make youself seem confrontational

[Yankeeman07]

feel free to make a thread on that. Its an interesting discussion as well. By posting that here you just make youself seem confrontational

MCN is now the hall monitor - I love people that hide behind a screen name and make assumptions.

Funding-Lending is a 2 way street - IF a broker uses some common sense and understands that both sides
are in the business to earn a income/profit - the path to funding may go easier.

[Clark Sica]

I agree with DTF... Transparency on both ends is what can forge great relations. Isos.... a funder knows what type of broker you are by how you submit a deal.... Current advance balances, requested dollar amount, use of funds, etc helps a funder know that you took the time to get to know the merchant and explain the product. You are someone they will want to continue doing business with. This goes for funders as well, I noticed many funders send very basic declines and never take the time to reach out to their iso and explain the decline, or better yet, explain their approval! Taking that time to explain to someone what is good or bad about a file not only helps the funder better guide their iso, but it helps the iso know that you are someone who will help get their deal to the finish line with no additional BS. For example, many of our isos here at Lending Valley, Inc explain the dollar amount, use of funds and daily or weekly payment the merchant is willing to pay from the initial submission. This helps underwriting better adjust our approvals for an easy sell. This method has helped us get deals in and out the door same day (pending how fast the merchant moves). Transparency, solid communication and a detailed explanation on who, what, when, where, why and how you operate is the foundation of any great relationship. Trust is earned but transparency is a 2 way street.

[JTS-MCA]

Sales and risk always bump heads .

Come on Jake! you know this is not true! Sales and Credit are always best friends!

[Clark Sica]

I agree with DTF. Transparency on both ends is what can forge great relations. Isos.... a funder knows what type of broker you are by how you submit a deal.... Current advance balances, requested dollar amount, use of funds, etc helps a funder know that you took the time to get to know the merchant and explain the product. You are someone they will want to continue doing business with. This goes for funders as well, I noticed many funders send very basic declines and never take the time to reach out to their iso and explain the decline, or better yet, explain their approval! Taking that time to explain to someone what is good or bad about a file not only helps the funder better guide their iso but it helps the iso know that you are someone who will help get their deal to the finish line with no additional BS. For example, many of our isos here at Lending Valley, Inc explain the dollar amount, use of funds and daily or weekly payment the merchant is willing to pay from the initial submission. This helps underwriting better adjust our approvals for an easy sell. This method has helped us get deals in and out the door same day (pending how fast the merchant moves). Transparency, solid communication and a detailed explanation on who, what, when, where, why and how you operate is the foundation of any great relationship. Trust is earned but transparency is a 2 way street.

[RickyR3712]

I'm working with a B funder in the MCA space. I'm hoping to get feedback on what we should be focusing on as far as system and process improvements.

From the ISO perspective what are the 3 things that make one funder better than others?

Thanks in advance.

I agree with the previous post on what you should do and will like to add what you should not do. Do not be an annoying funder. To me nothing is worse than funders that hold you responsible for their own underwriting, for closing ratios when competitors give better approvals. If a file defaults fire your underwriter, do not complain to me as long as i did not mislead you in your decision.
Do not have a sales team.

[abfunders]

Hey everyone, this thread is relevant!
https://debanked.com/tv/?v=510826220

[Michael I]

I agree with the previous post on what you should do and will like to add what you should not do. Do not be an annoying funder. To me nothing is worse than funders that hold you responsible for their own underwriting, for closing ratios when competitors give better approvals. If a file defaults fire your underwriter, do not complain to me as long as i did not mislead you in your decision.
Do not have a sales team.

You talking about a funder out of Miami "box"