Results 1 to 7 of 7
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10-29-2014, 06:03 PM #1
- Join Date
- Aug 2014
- Posts
- 109
worst funders
im talkin low offers, low comission, and slow response. who is it
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10-29-2014, 06:08 PM #2
- Join Date
- Jul 2014
- Posts
- 128
worst funders
Knight
Pearl
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10-29-2014, 07:28 PM #3
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Meanwhile you see Knight and Pearl on a lot of statements... merchants don't think they're that bad.
Everyone has their opinion on the "worst" funder but it is about relationships and how well you represent and know the products that you are selling.
Low offers is apart of risk. Some lenders give a lower offer because they see something others don't - or they just don't like the deal. If you communicate more and show that you are indeed the broker on the file that has a good connection with the merchant- they will be more responsive. Write a note about the business details and request an amount. Don't just send a file.
Low commissions have to do with how direct the money is. It is also about risk- those who pay the lowest usually take a bigger risk.
Response=Relationships... If you have an issue with response, then you need to fix your relationship. You ever get a call from someone out of the blue because they want something? Don't you feel used? Consistency is key. Why partner with a lender if you aren't going to sell their programs then just use them when you can't get it funded elsewhere. They know... they aren't stupid.
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10-29-2014, 09:19 PM #4
- Join Date
- Sep 2014
- Posts
- 720
Knight offers very strong 2nd position offers in certain cases, but botch a deal every once in a while due to miscommunication or lack of organization on their end. While I can't say that Pearl is a go-to CD funder, they will honestly surprise you with aggressive offers at times and their closing process is much more seamless than other competitors. If there was truly a lender that was the worst - they wouldn't be in business. All of them have different preferences and UW guidelines. It's all about knowing those details and utilizing each of them accordingly.
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10-30-2014, 09:25 AM #5
- Join Date
- Aug 2014
- Posts
- 187
The bad ISO is far worse than the worst funder.
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10-30-2014, 09:36 AM #6
- Join Date
- Aug 2014
- Posts
- 109
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11-06-2014, 06:33 AM #7
- Join Date
- Jun 2014
- Posts
- 195
On deck, they may have great offers but as an agent you need to make sure you don't get screwed out of your renewals
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