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  1. #1
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    Backdoor Musings

    So I got a file from a merchant New Year's weekend. Got app and banks quickly. Low revenue, but had $100k+ in the bank account in reserve. Sent it out on Monday (without the December bank statement). Tuesday got some rejections for Datamerch hits for fraudulent bank statements (which didn't surprise me too much). The merchant got the "same" report about the Datamerch hit (old company) and claimed innocence. I found out who the funder was who put him there and had an old rep contact them, requested to find out more information, figure out how to dispute the Datamerch hit, etc. Meanwhile, one funder said he'd continue working on it, please send the December bank statement. I did. On the same day, the merchant forwarded me an email from the very same funder who put the client on Datamerch (for fraud statements) that reached out DIRECTLY to his new email address, asking "just" for the December bank statement!!! I had sent this file to TWO funders that didn't include the Nov bank statement. EBF and one more (to remain nameless).

    What do you think happened here? The merchant had sent the file to lots of other places first and it was a coincidence? Leaky CRM at these two funders? Back door at EBF?

    BTW, the client backed down upon bank login and stopped contacting me. I looked him up, and he has an attempted murder charge several years ago. Datamerch hit was legit, for sure.

  2. #2
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    I have had files declined at EBF and 2 weeks later, there they are in the merchants bank pulling.

  3. #3
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    I had a file declined at EBF and they asked me "LLC or Sole prop?" I told them "Sole prop, look at the bank statements", but the app said it wasn't. He told us "I have an EIN" but that doesn't make him an LLC I told him. I asked EBF if I should submit a new app because he's an idiot (not a liar), they said, "Management isn't interested, it's rejected." It was funded by another broker within 2 days and when I called them on it, they actually gave me an official apology that it was overlooked by the underwriters. Small deal (Vader)..... but really?!

  4. #4
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by Shorebird View Post
    I have had files declined at EBF and 2 weeks later, there they are in the merchants bank pulling.
    But what was yours declined for???????

    Be more like Micah, give some type of details.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  5. #5
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    I don't remember specifically, it was either time in business or NSF's. Sorry

  6. #6
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    Quote Originally Posted by BR-Nightmare View Post
    But what was yours declined for???????

    Be more like Micah, give some type of details.

    I've tried many times to be like Micah, and I've invited him to the www.dumbleads.com offices so he can give over the counter training, but none of us can get the sandwiches down the way he does at his speed, without spilling dressing all over the customers.

    It's harder than you think BR, why don't you just relax...

  7. #7
    Senior Member Reputation points: 22201
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    Don are you going to be at Debanked ?
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  8. #8
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    Not this time my friend.

  9. #9
    Senior Member Reputation points: 16016 fundinggrasshopper's Avatar
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    Quote Originally Posted by Shorebird View Post
    I have had files declined at EBF and 2 weeks later, there they are in the merchants bank pulling.

    If you submit a deal to them monday, offer out tuesday, and you haven't closed it by friday...good luck! you could bet your house, car, and yacht that deal will be in the hands of every broker north of the mason-dixon line before you've even had the first sip your monday morning coffee.
    Last edited by fundinggrasshopper; 04-06-2023 at 11:14 AM.

  10. #10
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by fundinggrasshopper View Post
    One of the biggest conspiracies in this entire industry is the deal-reselling at ebf...its pretty damn brilliant really.

    If you submit a deal to them monday, offer out tuesday, and you haven't closed it by friday...good luck! you could bet your house, car, and yacht that deal will be in the hands of every broker north of the mason-dixon line before you've even had the first sip your monday morning coffee.
    Here is a great question I have for all the brokers.

    How are your leads obtained? How are your leads obtained by your source? Do you sign a guarantee that the lead you were provided was not given to another individual who paid for it through the same source?


    We question more the integrity of funders rather than really looking deep into brokers' sources for this information.

    Now, have you ever applied for a personal loan on the web through sites like lending tree, sofi, credit karma, and other like them?

    Have you ever been called by multiple lenders offering assistance when you may have only applied to one company?

    Don't some lead generators seek "triggers"?

    When you get a traffic ticket, how do these "lawyers" get your info to flood your mailbox with flyers...

    Has anyone attempted to find out why?

    Multiple post's target funders as the culprits with little to no supporting evidence.
    Last edited by BR-Nightmare; 01-13-2023 at 04:58 PM.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  11. #11
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    delete
    Last edited by Shorebird; 01-14-2023 at 12:46 PM.

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