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04-04-2024, 04:24 PM #1
- Join Date
- May 2023
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- 17
I remember running a CC split deal with TMRNOW. It was a grueling and painful process. You guys had my merchant send 20 stips and even changed the CC processor to whatever CC processor you guys wanted him to use. Went through all that just for your UW to kill it for a default. Worked it for a whole week and made my merchant switch processors for nothing. Never again sorry scotty. Good guy but never again.
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04-04-2024, 04:25 PM #2
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- May 2023
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- 17
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04-05-2024, 03:02 PM #3
- Join Date
- Nov 2019
- Posts
- 676
What deal was this so i can see if was the rep or someone that is not here anymore. If the merchant had a prior default then it should of been declined. But if it was something that could of been found before all that I apologize and should not of happened. But if nothing came up on the initial findings and something popped up last minute that made us look harder then it is something out of our control.
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04-05-2024, 03:28 PM #4
- Join Date
- Sep 2021
- Posts
- 190
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04-05-2024, 03:53 PM #5
- Join Date
- Jul 2017
- Posts
- 548
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04-05-2024, 03:58 PM #6
- Join Date
- Nov 2019
- Posts
- 676
We do ask for a lot of *** because one there are a lot of scammers out there. To many brokers and merchants lying to good funders to get a deal done and have no intention of paying or getting lied to in order to get money they cant afford to pay back. Our money is self invested and we do not borrow any money from investors or warehouse lines with nothing to lose when we fund a deal. It is very easy to run a soft credit pull and as for a driver licenses and voided check and bank login when you have nothing to lose. Give me your money to fund and we ill ask for nothing and when ou lose your money you will not like that. It is very rare we will decline a file at the end that can be found in the beginning. Somethings do not show up on credit on new york case search that we now check on submission. But no funder runs criminakl abck ground searches judgments tax liens tlos's ucc searches untl contracts are signed and thacan come up and kill a deal last minute.
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04-04-2024, 04:27 PM #7
- Join Date
- Mar 2024
- Posts
- 234
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04-05-2024, 02:57 PM #8
I'm not familiar with this funder but when you do a CC split deal, it does require the merchant to switch processors, that's how the deal gets paid back and killing deals just prior to funding is nothing new in this industry, so one deal that they couldn't fund shouldn't be a reason to say "never again" to a funder or you might eventually run out of funders!
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04-05-2024, 03:12 PM #9
- Join Date
- Nov 2019
- Posts
- 676
Thank you for the comment. We do not always need to switch the processing over. We can try to do a lockbox but if a file is so risky we do want that to be a condition of the funding. We try not to let things kill a file at the end which most times they do not but once in awhile it does happen especially if the merchant is not honest with the broker and honest with us.
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04-05-2024, 08:21 PM #10
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04-08-2024, 11:45 AM #11
- Join Date
- Nov 2019
- Posts
- 676
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05-08-2024, 05:51 PM #12
- Join Date
- Dec 2022
- Posts
- 12
Yes 10000%. Tmr is trash. That’s hilarious. This was every deal until we cut them after a month or two.
“We fund everything and we were on shark tank” -literally won’t fund a deal that gets aggressive offers from everyone in their box and better. Praying for ****ty ISOs with poor resources to send deals
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