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  1. #26
    Such a shame so many bad players in the space.

  2. #27
    Senior Member Reputation points: 14966 jfeinberg's Avatar
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    https://youtu.be/buU4HqkCb9Y


    This post triggered me to make a video on this. If you have ways new brokers can "sniff" out fake funders/lenders, lets share these tips with them. By stating no way cant be true, this needs to change, thats whats wrong with our industry, it wont accomplish anything.

    Lets start to educate people by sharing who is f***ing people over, and share what questions can be asked to learn if they are lying or not.

    Now I know it cant 100% be sniffed out, but if we can help lets help.

    I gave one possible way in the video. But there is so much more.
    Last edited by jfeinberg; 05-18-2022 at 11:38 AM.

  3. #28
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    These guys are such dicks. I reached out like 3 or 4 years ago to see if they had a sales team and wanted to submit to us and all they do is send a bunch of emails like "eff you" "go eff yourself" "never effing talk to me again" "I'll eff your mother" from like 3 or 4 different people at the company. I made the same mistake a year or two later and it was the same exact thing... a bunch of cursing and crying at me. I'm pretty sure these are grown men too.. You see a picture of a 40-50 year old man in the signature and in the body of the email is just "eff this eff that blah blah blah".

  4. #29
    Senior Member Reputation points: 58763 ridextreme's Avatar
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    These scumbags are what's gonna get the industry regulated, just like the MTG industry after 2008. (licensing and testing that's designed to be hard to weed out the week and dumb idiots like these clowns).

  5. #30
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    Quote Originally Posted by pcfunder View Post
    These guys are such dicks. I reached out like 3 or 4 years ago to see if they had a sales team and wanted to submit to us and all they do is send a bunch of emails like "eff you" "go eff yourself" "never effing talk to me again" "I'll eff your mother" from like 3 or 4 different people at the company. I made the same mistake a year or two later and it was the same exact thing... a bunch of cursing and crying at me. I'm pretty sure these are grown men too.. You see a picture of a 40-50 year old man in the signature and in the body of the email is just "eff this eff that blah blah blah".
    Was it because you killed their deals from AZ Rei, Vectorless Films & Cummings Trucking??

    Same happen to me.
    Joseph
    A Brokers Nightmare
    Florida-Based

  6. #31
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    Quote Originally Posted by alexd12345 View Post
    To me its always a red flag when a company rep says " nobody backdoors here". Its impossible to know and its rampant across the board. I used to label my bank statements in a discreet way and had my reps who i trusted at these funders be on the lookout for subs that come with my labeled statements so I have "busted" even the most reputable shops ( would customize the bank statemnt label for each sub and actually caused a few reps at certain shops to be relieved of their jobs).. But I no longer waste time being a detective as I saw how widespread it is . Of course when I find out with certainty its happening I limit my subs there unless despite the backdooring I am still converting alot with said funder. But no matter what you do security wise all it takes is one rogue employee to want to make alot of extra side money for the backdorring to happen. My advice is keep your focus on the shops that convert for you and dont just blast out every sub. Limiting the exposure will limit the backdooring.


    This is the answer.









    www.UccRadar.com

  7. #32
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    Quote Originally Posted by BR-Nightmare View Post
    Was it because you killed their deals from AZ Rei, Vectorless Films & Cummings Trucking??

    Same happen to me.
    No definitely not I love those deals. I try to get in them whenever I get a chance.

  8. #33
    It's 100% true. I've seen it with my own eyes.

  9. #34
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    self regulation didn't hasn't and won't work. it's been tried, talked about, and, failed. the bad apples form new companies and hire front men to fleece brokers into thinking they are a funder. than, you have legitimate funder's, who, backdoor deals through ISO's. Where does the industry go from here? Or, is the reality, its the wild west and will always be

  10. #35
    Quote Originally Posted by fundingsmbs View Post
    self regulation didn't hasn't and won't work. it's been tried, talked about, and, failed. the bad apples form new companies and hire front men to fleece brokers into thinking they are a funder. than, you have legitimate funder's, who, backdoor deals through ISO's. Where does the industry go from here? Or, is the reality, its the wild west and will always be
    I think its pretty easy to know who is full of shit and who is legit or not. These 'funders' that post on here or linkedin promoting themselves etc , but have you ever seen them in a bank statement? Do you know any other brokers who work with them and pay commission? Would multiple brokers go to bat for that funder and give a good reference? If the answer is 'no' and you still sign up with them and get screwed, thats no one fault but yourself. I have brokers reach out all the time and if I dont get a good reference or their website is not legit etc, i dont sign them up. Not going to waste my time with a broker i feel is not legit or gets their files from downlines/backdoored to them. Not going to deal with that headache when it comes to funding deals or seeing they stacked me right after since I can just ask the merchant 'who got you that funding right after us?". I dont see why it wouldnt be the same with signing up with a funder. It is the wild west but if you have half a brain i think 99% of the issues people face can be avoid but if you want to sign up with anyone and everyone to try to make a quick buck, then dont be surprised when a bad situation comes up.

  11. #36
    Member Reputation points: 8145 SendDocsPlox's Avatar
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    Quote Originally Posted by TheUnderwriter View Post
    I think its pretty easy to know who is full of shit and who is legit or not. These 'funders' that post on here or linkedin promoting themselves etc , but have you ever seen them in a bank statement? Do you know any other brokers who work with them and pay commission? Would multiple brokers go to bat for that funder and give a good reference? If the answer is 'no' and you still sign up with them and get screwed, thats no one fault but yourself. I have brokers reach out all the time and if I dont get a good reference or their website is not legit etc, i dont sign them up. Not going to waste my time with a broker i feel is not legit or gets their files from downlines/backdoored to them. Not going to deal with that headache when it comes to funding deals or seeing they stacked me right after since I can just ask the merchant 'who got you that funding right after us?". I dont see why it wouldnt be the same with signing up with a funder. It is the wild west but if you have half a brain i think 99% of the issues people face can be avoid but if you want to sign up with anyone and everyone to try to make a quick buck, then dont be surprised when a bad situation comes up.
    I will say that DailyFunder seems like bizarro MCA sometimes, because a lot of big names on here are not the people actually funding and the way they talk about deals you would think theyre Finance Boomers on the periphery of the industry with no fundamental understanding of processing or ISO relations from the Broker's perspective

    I don't work with the majority of companies that advertise on here regularly for exactly the reasons you outline above

    Especially companies named after fucking fruits and vegetables

  12. #37

    Not fake. Just a joke. This does happen all over the industry ;)

    Quote Originally Posted by SmartAdvanced View Post
    Looks fake, or un-believable
    Hey atleast i got removed from his email list

  13. #38
    Quote Originally Posted by RobPearlman View Post
    Hey atleast i got removed from his email list
    "Dedicated to Excellence"...... quite the shop you have there. Father/son both shady as hell. How cute.

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