[TheUnderwritingProdigy]

Hey guys, just wanted to take a quick poll. Working with a software company right now that does bank statement review and was curious which option you would rather have when it comes to underwriting and making offers.

Option #1: Average ledger that finds average across every single day of the month.

Option #2: Average ledger that finds average across only business days (no weekends, no holidays).

[BB_Cooper]

#2 is a true average for the banking days you are trying to debit against.

Seems like #1 would overweight the Friday ledger within your average-

[VitalCapJeff]

Option #2.

[LoanMe_JG]

Hey guys, just wanted to take a quick poll. Working with a software company right now that does bank statement review and was curious which option you would rather have when it comes to underwriting and making offers.

Option #1: Average ledger that finds average across every single day of the month.

Option #2: Average ledger that finds average across only business days (no weekends, no holidays).

If you're focusing purely on MCA then Option #2 makes the most sense given the relation to Daily/Weekly payments.

If you're focusing on MCA AND other options that offer a monthly payment then Option #1 makes better sense as you'd likely want the whole picture as opposed to calculations based solely on 21 business days only.

[Olderguy]

I'm a bit confused....I signed up with decision logic and I loved it (easy for borrowers) but the lenders would NOT accept decision logic statements.

[TheUnderwritingProdigy]

I'm a bit confused....I signed up with decision logic and I loved it (easy for borrowers) but the lenders would NOT accept decision logic statements.

It takes a considerable amount of time to sit there and manually add up numerous months worth of transactions from a DecisionLogic report. It's much more practical to have the official statement w/the total deposits listed, and then just subtract away the non-revenue. Official statements also often have average ledger which is very valuable as well. DecisionLogic would be more useful in this situation as a MTD instead of an entire new submission.

[Olderguy]

It takes a considerable amount of time to sit there and manually add up numerous months worth of transactions from a DecisionLogic report. It's much more practical to have the official statement w/the total deposits listed, and then just subtract away the non-revenue. Official statements also often have average ledger which is very valuable as well. DecisionLogic would be more useful in this situation as a MTD instead of an entire new submission.

But MCA lenders won't accept decision logic statements....we tried and finally gave up and cancelled it. Does this replace statements like decision logic?

[TheUnderwritingProdigy]

But MCA lenders won't accept decision logic statements....we tried and finally gave up and cancelled it. Does this replace statements like decision logic?

Nothing replaces statements. DecisionLogic, Plaid, and other tools are used to verify accuracy/authenticity, provide MTD, and in some cases, provide transaction history that was not provided in earlier months which were not provided in the original submission.