[MCN]

I checked my records. 14 deals in a row Bitty put an offer on and killed at some point either before contracts or in final review. 14!

I fund with superfast all the time. No issues.

I fund with Vader all the time. Very few issues.

Im not sure whats going on there? Is it just a coincidence, or if they are having issues with underwriting properly.

Has anyone else been having this experience lately?

[alexd12345]

I checked my records. 14 deals in a row Bitty put an offer on and killed at some point either before contracts or in final review. 14!

I fund with superfast all the time. No issues.

I fund with Vader all the time. Very few issues.

Im not sure whats going on there? Is it just a coincidence, or if they are having issues with underwriting properly.

Has anyone else been having this experience lately?

My experience is the exact opposite for vader. Vader kills everything. For reasons that are usually there in submission. Bitty does not kill any deals of ours in final except if recnet funding in mtd. . Always hit confirm pricng before reqeusting dox. We have the lowest kill rate with them vs any other funder . Superfast is very solid as well/

[ADVENTUREFUNDINGROUP]

Give us a shot hopefully we can help fund some of those deals

[MCN]

My experience is the exact opposite for vader. Vader kills everything. For reasons that are usually there in submission. Bitty does not kill any deals of ours in final except if recnet funding in mtd. . Always hit confirm pricng before reqeusting dox. We have the lowest kill rate with them vs any other funder . Superfast is very solid as well/

Been confirming pricing. Doesnt seem to help.

Recent MTD i completely understand, and some of those 14 that was the case. I expect some deals to get kileld in funding its part of the business, but this just seems excessive to me.

[DTFdowntofund]

Been confirming pricing. Doesnt seem to help.

Recent MTD i completely understand, and some of those 14 that was the case. I expect some deals to get kileld in funding its part of the business, but this just seems excessive to me.

There's no "excessive" when it comes to this. What were the reasons that the deals were killed at the end?

Account negative at time of funding? Dead.

Got stacked between the time of approval and funding? Dead.

Severe decrease in volume? Dead.

MTD showing multiple neg days? Dead.

It has nothing to do with how many, it's all about why.

If the 'whys' all make sense, then they're just operating as they should. If not, then I'd switch to another house for your micro deals.

[BR-Nightmare]

Been confirming pricing. Doesnt seem to help.

Recent MTD i completely understand, and some of those 14 that was the case. I expect some deals to get kileld in funding its part of the business, but this just seems excessive to me.

Not all deals are winners unfortunately.

Sometimes it takes a full review in final to determine if a deal is good or now. Honestly it's a catch 22 type of issue. If it's killed earlier, it's a problem, if it's killed in final its a problem.

I completely understand 14 declines sucks but eventually the tide will turn for you.

I remember speaking with someone that shares the same sentiment with our company. When I investigated further, I realized this broker didn't even peek at the statements or the app the "Merchant filled out". When I told them about it, they were still upset about it.

In the end, we can't win them all.

[Capitalize Group]

Send them over to Capitalize. We will only kill a deal if we find something that wasn't in the submission.

[GTM]

When you confirm pricing, put in the notes what you think might be an issue. I'll point out a lower rev month or excessive negatives, etc. Funded 6 deals with them in march, and not one was killed. Actually, the same deals were killed by other lenders. Bitty at this point is the best of b paper and micro...

[MCN]

There's no "excessive" when it comes to this. What were the reasons that the deals were killed at the end?

Account negative at time of funding? Dead.

Got stacked between the time of approval and funding? Dead.

Severe decrease in volume? Dead.

MTD showing multiple neg days? Dead.

It has nothing to do with how many, it's all about why.

If the 'whys' all make sense, then they're just operating as they should. If not, then I'd switch to another house for your micro deals.

agreed. Some make sense some don't. It could be a wild coincidence, but i dont seem to have these issues as often with other funders. I need to have confidence that if i'm pitching the deal to my merchant there's a good chance its going to close unless there's something that normally would kill a deal (stacking, negative balance, account running negative etc etc)

[MCN]

Not all deals are winners unfortunately.

Sometimes it takes a full review in final to determine if a deal is good or now. Honestly it's a catch 22 type of issue. If it's killed earlier, it's a problem, if it's killed in final its a problem.

I completely understand 14 declines sucks but eventually the tide will turn for you.

I remember speaking with someone that shares the same sentiment with our company. When I investigated further, I realized this broker didn't even peek at the statements or the app the "Merchant filled out". When I told them about it, they were still upset about it.

In the end, we can't win them all.

100%. While we have seen an uptick in deals killed in final (been hearing the same from many other brokers), generally its not a major issue. Bitty is sticking out over here.

I understand the catch 22 from a funders perspective, but if a funder can't give a solid offer its a bit of an issue. Again the other funders seemed to have figured it out. When i get an approval from superfast i know its usually going to fund. Vader im a little less confident but i know i have a pretty good chance, bitty im actually afraid to pitch the offers because they always turn out to be bull****.

Is what it is.

[DTFdowntofund]

agreed. Some make sense some don't. It could be a wild coincidence, but i dont seem to have these issues as often with other funders. I need to have confidence that if i'm pitching the deal to my merchant there's a good chance its going to close unless there's something that normally would kill a deal (stacking, negative balance, account running negative etc etc)

Deals die at the end all the time. You also need to look at the product type, because you're more likely to see deals killed at funding in micro + high risk etc than in better paper deals. Nature of the beast my man.

[MCN]

Deals die at the end all the time. You also need to look at the product type, because you're more likely to see deals killed at funding in micro + high risk etc than in better paper deals. Nature of the beast my man.

no arguments there. But one funder 14 in a row? That's a little crazy even for high risk micro deals.

[DTFdowntofund]

no arguments there. But one funder 14 in a row? That's a little crazy even for high risk micro deals.

Like I said... check into WHY. It might be a string of oddly bad luck deals (I agree it's a lot), but if they're justifiable then it has nothing to do with the funding house, esp if they're the only one you use for that specific type of paper.

Check the MTD's yourself. You can cross reference and verify these things on your own to confirm.

[MCApphub]

You are referring to Bitty?

[MCApphub]

Their backdoor shop is HPC (will not disclose the full name) but they backdoor heavy. I've learned the hard way.

I don't make judgement on anything you may claim because everyone experiences and sees things differently so know I am not coming at you. I mean if they back door apps why have they recently been deactivating ISOs who do not submit apps actively? Wouldn't the objective be if they wanted apps to back door have as many as they could get their hands on? So it wouldn't hurt to maintain as many ISO relationships as possible an app is an app. Not saying your opinion is not valid just looking at it from my view. I have funded with Bitty recently and regularly submit so I would like to know what it really is ya know...

[Closing_since_2013]

nobody is a rookie here, nobody would be making a post over deals killed due to 'negative balance' ... or 'hiding a stack' ...... that is obviously two scenarios that fall on the merchants fault. my experience with bitty has been deals killed over absolute nonsese, such as "low fico" when credit should have been ran before an approval, before issuing contracts, etc. I am not surprised there are claims of them caught with a backdoor shop. My most recent killed contract with them was a deal priced at third position. final uw came bck and said an additional funder was pulling in feb (mind you its over a mo. later) they killed thinking they had to come fourth position when the offer was priced for third... upon clarification that the lender being paid in feb got paid in full, they still didnt fund the deal nor did they answer a single phone call since. They actually had the nerve to "stop calling / tying up their line" yet they never had the decency or professionalism to answer a single call since killing this contract over another nonsense reason. not a valid reason like a negative Acct or a stack!

[MCN]

I don't make judgement on anything you may claim because everyone experiences and sees things differently so know I am not coming at you. I mean if they back door apps why have they recently been deactivating ISOs who do not submit apps actively? Wouldn't the objective be if they wanted apps to back door have as many as they could get their hands on? So it wouldn't hurt to maintain as many ISO relationships as possible an app is an app. Not saying your opinion is not valid just looking at it from my view. I have funded with Bitty recently and regularly submit so I would like to know what it really is ya know...

thats assuming their policy is to backdoor, most of the time its just an employee that works for a funder who consistently passes deals along deals to his buddy at XYZ brokershop.

Im not accusing Bitty of backdooring, i've never had any reason to accuse them of it, but it wouldnt shock me. Unfortunately i can say that about most funders in this industry.

[DonMcGrath]

My experience is the exact opposite for vader. Vader kills everything. For reasons that are usually there in submission. Bitty does not kill any deals of ours in final except if recnet funding in mtd. . Always hit confirm pricng before reqeusting dox. We have the lowest kill rate with them vs any other funder . Superfast is very solid as well/

Alex over here talking about hit confirms.

Next you’re going to be going on about frame traps, negative edge, whiff punishes, and safe jump setups, at EVO.

[BR-Nightmare]

YEP, I've caught their backdoor shop multiple times.

I would put money the "backdoor" is an aged submission that was sold as permitted by their ISO agreement with you.