[J.Celifarco]

Always do the due diligence, especially since you are never sure that the dude is not just an ISO looking for a quick buck.
I always read the ISO Agreement, there are generally a couple of items that need to be crossed out. Just as an aside, I was contemplating working with a company and called the head of the company with a couple of questions on the ISO agreement, his response - " dude you read the ISO agreement more then anyone in my own company myself included, just sign the damn thing", always reassuring.
The most I'll do before signing the ISO agreement is to call the dude and talk about the deal in broad strokes to see if it is really something he can deal with or is he just trying to get his hands on the deal, if he seems legit I have no problem signing up

I agree, I asked the question because with all the people posting looking for approvals I didnt see how it was possible to actually look into the company and try to get the deal done in a workable amount of time

I've always taken a backwards approach to this. Although I don't sign up with lenders anymore, when I did I would take a specific deal and try out two new lenders that fit the criteria. This way I learned how they operate, how they underwrite, and began to understand how each lender works. Sometimes you can tell right away, sometimes it takes 10-15 submissions to understand how a lender works. If they ever screwed me over, I'd just put them "on blast" here on the DF...

I understand what your saying but that approach had to be painful with the way some companies go about the underwriting and approval process


From a banks perspective I wonder if it is worth all the trouble of getting a new ISO signed up when they probably are only going to be sending this one deal that they obviously have not been able to get funded with their normal funding partners