[MoneyMan1]

So over the last year I’ve seen an uptick in fake statements, as in 1 in 6. Is there a software I can purchase to reconcile the statements before I submit to lenders, in order to save time and energy?

TIA

[brokerplus]

It sounds like your lead source is ripping you off..

[MoneyMan1]

It has occurred to me

[Olderguy]

Why do it yourself when the lenders have the software to do it?

[MoneyMan1]

Because I don’t want to be known as the broker that submits a ton of fraud. Also I’ll know who to cutoff and report

[Olderguy]

I have noticed a higher degree of defaults on new submissions and ACH's so maybe a sign of the times?

[MoneyMan1]

Yeah same! I’m just looking for a way to be more efficient because eventually it becomes a stain

[Olderguy]

It's todays business model.

[MoneyMan1]

Unfortunately yes it seems so

[BR-Nightmare]

You're welcome to try Datamerch to see if the deal you have is reported. Chances are that lead has been *****d out to many people and it could just be a rat race to see who funds it first. It's the unfortunate game we see out there. Out of 10 fraudulent statements you may receive, 7 can be obvious to the naked eye.

One trick I do see people do is they edit the statement, then print the statement to then physically scan it to try to avoid pdf edit detection.

I hope this helps.

[MoneyMan1]

I appreciate it! Signing on with them now

[ryan $]

I appreciate it! Signing on with them now

Bro, DataMerch is NOT what you are looking for.

You are looking for Moneythumb. https://www.moneythumb.com/

[fundingsmbs]

that or something like Ocrolus. yes, bank statement fraud is up and we knew after so much PPP fraud that it was going to trickle into this space as well. Im sure there are rings of fraud around the country who know how easy it is to get a MCA/Loan. Can't imagine the collections challenges some of the larger funder's are having being so loose on funding or merchants triple+ stacked that can't payback anyone. another issue is so many of the same merchants are being solicited by so many brokers. time will tell if this is a fad or the wheels will pop off bus

[BR-Nightmare]

Bro, DataMerch is NOT what you are looking for.

You are looking for Moneythumb. https://www.moneythumb.com/

Bro, dont hurt my feelings like that. LOL

Money thumb is another suggestion along with Ocrolus.

[ryan $]

Bro, dont hurt my feelings like that. LOL

Money thumb is another suggestion along with Ocrolus.

My bad Bro-Sef Leiberman

[MCA-VET]

What's the point did a merchant ever get funded with fraudulent statements in the last few years ? maybe some newbie on the block ?