[ryan $]

I am primarily a broker and I use datamerch daily. Well worth knowing if I am wasting my time for the money.

I personally think DataMerch is complete bull****. MANY MANY MANY times lenders or even brokers will list merchants in DataMerch as default, fraud, ect and it turns out to be completely false, they just want to deter others from taking their customers.

It is complete bull****. Nothing irritates me more than a file being declined for being in DataMerch for a default, but there are no UCC's or Court Records to back it up. Ive even gona as far as to provide a year worth of statements and literally shown lenders they never missed a payment and paid off in full. You can see the entire advance in the statements, perfect pay history, but like UNDERWRITING ROBOTS with no critical thinking, No we must decline, listed in DataMerch. Im showing you its bull****..... seriously?

thankfully plenty of lenders dont use datamerch period.

[Michael I]

I personally think DataMerch is complete bull****. MANY MANY MANY times lenders or even brokers will list merchants in DataMerch as default, fraud, ect and it turns out to be completely false, they just want to deter others from taking their customers.

It is complete bull****. Nothing irritates me more than a file being declined for being in DataMerch for a default, but there are no UCC's or Court Records to back it up. Ive even gona as far as to provide a year worth of statements and literally shown lenders they never missed a payment and paid off in full. You can see the entire advance in the statements, perfect pay history, but like UNDERWRITING ROBOTS with no critical thinking, No we must decline, listed in DataMerch. Im showing you its bull****..... seriously?

thankfully plenty of lenders dont use datamerch period.

plus when the funders that list them goes and funds them they have no penalty for that funder. Has happened to me so many times

[TheUnderwritingProdigy]

plus when the funders that list them goes and funds them they have no penalty for that funder. Has happened to me so many times

How about funders like CFG that use Datamerch and then never post a single default while just reaping the benefits of everyone else's contributions? WE NEED ACCOUNTABILITY! lol

[excelcap]

plus when the funders that list them goes and funds them they have no penalty for that funder. Has happened to me so many times

As a funder you need to obviously educate yourself and the team to use the system in sync with the other data available. Granted you can put whatever you want in data merch and funders should def not solely rely on the information put in by any user. However, when its coupled with negative background or ucc data you can rest assured no one just tried keeping a merchant all for themselves or blocking out other funders.

DO YOUR DILLLIIIII right folks