New iso rep on the block
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  1. #1

    New iso rep on the block

    Hi everyone!
    I just started as an ISO rep for a fairly new company. I was reviewing the ISO agreement they have and was wondering what brokers would like to see in it (ex; LG has a great one protecting the ISO). Anything in particular that anyone was having an issue with that would like it the contract to be better protected?

  2. #2
    Senior Member Reputation points: 65649 TheConfidentBroker's Avatar
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    Quote Originally Posted by EmilyD_ISO View Post
    Hi everyone!
    I just started as an ISO rep for a fairly new company. I was reviewing the ISO agreement they have and was wondering what brokers would like to see in it (ex; LG has a great one protecting the ISO). Anything in particular that anyone was having an issue with that would like it the contract to be better protected?
    Firstly, it's not your responsibility to do this but being the peopleing person you are, you want to make sure that you can stand behind your Company's word when representing and being true to the funding capabilities you have.

    It doesn't matter what the Brokers "like to see" - just use the words *aggressive *competitive and anything more that 12. Sprinkle in that you fund defaults and lie about going out 120 days and you'll get responses.

    What does matter is what you have in there to cover your ass (CYA) because all these Broker/ISOs are just looking for new Funder blood to suck. Protect your neck.... aka book. You, as a funder have fiduciary responsibility. Some Brokers could care less.
    Funding is Temporary. Wu-Tang is Forever.

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    Senior Member Reputation points: 65649 TheConfidentBroker's Avatar
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    Funding is Temporary. Wu-Tang is Forever.

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  5. #5
    Quote Originally Posted by TheConfidentBroker View Post
    Firstly, it's not your responsibility to do this but being the peopleing person you are, you want to make sure that you can stand behind your Company's word when representing and being true to the funding capabilities you have.

    It doesn't matter what the Brokers "like to see" - just use the words *aggressive *competitive and anything more that 12. Sprinkle in that you fund defaults and lie about going out 120 days and you'll get responses.

    What does matter is what you have in there to cover your ass (CYA) because all these Broker/ISOs are just looking for new Funder blood to suck. Protect your neck.... aka book. You, as a funder have fiduciary responsibility. Some Brokers could care less.
    Thank you.
    I make it my responsibility because of those reasons you mentioned. You want to have the right relationship and feel safe with your deals.

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    Senior Member Reputation points: 51397 DTFdowntofund's Avatar
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    Quote Originally Posted by EmilyD_ISO View Post
    Hi everyone!
    I just started as an ISO rep for a fairly new company. I was reviewing the ISO agreement they have and was wondering what brokers would like to see in it (ex; LG has a great one protecting the ISO). Anything in particular that anyone was having an issue with that would like it the contract to be better protected?
    As an ISO rep with 13 years experience in this space I'd say you're focusing on the wrong things.

  7. #7
    Just to clarify I have been getting a lot of DM.
    We are a funding company, the reason for this post is I have been seeing different agreements and was wondering if this is something that broker shops even care for?

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    Senior Member Reputation points: 73139 Olderguy's Avatar
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    Senior Member Reputation points: 65649 TheConfidentBroker's Avatar
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    Quote Originally Posted by EmilyD_ISO View Post
    Just to clarify I have been getting a lot of DM.
    We are a funding company, the reason for this post is I have been seeing different agreements and was wondering if this is something that broker shops even care for?
    Yes - Brokers care about how transparent you are as a Company and if your real name is Emily and if you do something other than 2nd position and up funding. If this sounds like you and pay as much as 15% commissions, you're entering a swamp full of the same swamp animals. No one gives a sh*t what you have in your agreement as long as you pay on time and you communicate.

    We want to know if you're a white label and the first thing we look for is copy and paste and who you took your guidelines from.

    We want to know that there is more than Emily behind the car salesman act of ISO Relations managers (even COOs apparently too). You have two types of Brokers - ones that take their own small business serious and want to build a book of more than just mca and the ones that have been blacklisted and shunned away from the "better" funders so they have to use poor Emily. That's why you're getting the DMs.

    Ribbit Ribbit. Show me you're address and I'll show you where your moneys from.

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    Senior Member Reputation points: 65649 TheConfidentBroker's Avatar
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    Quote Originally Posted by G2efunding.com View Post
    Right from the mouth of Babes...."just lie" awesome advice did you come up with that advice before or after you took a few selphies and tried to find the right irritating pose for your best facebook picture LOL child this whole ****en industry is a walking Lie - we will be back after this message LOL

    Captain Millllllllllleeeeeeennnnnnniiiiiiiiaaaaaaaaaaal wishing you a Great Day boys and girls Lol
    Yeah, creep. Who tf are you typing to?
    Funding is Temporary. Wu-Tang is Forever.

  11. #11
    Senior Member Reputation points: 118209 ridextreme's Avatar
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    Quote Originally Posted by EmilyD_ISO View Post
    Hi everyone!
    I just started as an ISO rep for a fairly new company. I was reviewing the ISO agreement they have and was wondering what brokers would like to see in it (ex; LG has a great one protecting the ISO). Anything in particular that anyone was having an issue with that would like it the contract to be better protected?
    So you're a new ISO rep and upon review of their ISO agreement, you want them to edit it based on the needs and wants of the brokers?

  12. #12
    Senior Member Reputation points: 65649 TheConfidentBroker's Avatar
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    Are you mad because your friends are banned and you can't originate anymore? It's tough for everyone swamp bucket... don't come lashing out when someone says the outlying truth on a Monday. *goes back to taking selfies*
    Funding is Temporary. Wu-Tang is Forever.

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    I love when you talk dirty ew ya

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    Quote Originally Posted by TheConfidentBroker View Post
    Yeah, creep. Who tf are you typing to?
    It turns me on when you talk in Acronyms mmmmmmmm tf the **** - wtf what the **** - or just outright illiterate millennial IM (this ones mine and you can take that to Twitter I mean Bank sorry) lol

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    Quote Originally Posted by EmilyD_ISO View Post
    Hi everyone!
    I just started as an ISO rep for a fairly new company. I was reviewing the ISO agreement they have and was wondering what brokers would like to see in it (ex; LG has a great one protecting the ISO). Anything in particular that anyone was having an issue with that would like it the contract to be better protected?
    Lg has been very competitive in the past.

  16. #16
    Senior Member Reputation points: 51397 DTFdowntofund's Avatar
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    Quote Originally Posted by ridextreme View Post
    So you're a new ISO rep and upon review of their ISO agreement, you want them to edit it based on the needs and wants of the brokers?
    Potential brokers*

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