[J.Celifarco]

seriously? And this is something you want to brag about? why??

[Jared_Weitz]

I honestly feel that a 1.70 is predatory and this is not something that should have been done, especially for where this industry is today (in the publics eye). Moreover, this shouldn't be spoken about in such a manor. Just my opinion.

[Sean Cash]

20k, 1.70, 37 days 10% psf - funded again!

This is the kind of stuff that's going to cross the threshold of CFPB jurisdiction:

http://files.consumerfinance.gov/f/2...view-panel.pdf

[CreditGuy]

20k, 1.70, 37 days 10% psf - funded again!

You're the worst "underwriter" I've ever come across in my career.

[Chambo]

MARCH 26, 2015
SMALL BUSINESS
ADVISORY
REVIEW PANEL FOR
POTENTIAL RULEMAKING
S FOR PAYDAY,
VEHICLE
TITLE, AND
SIMILAR
LOANS
OUTLINE OF PROPOSALS
UNDER CONSIDERATION
AND
ALTERNATIVES
CONSIDERED

To all you folks who have Poo-Poo'ed on me that the gov't WILL NEVER come after us, because it is business to business......whatcha got to say NOW?!?!

I know what I have to say....you need me to deposit some money in the prison commissary for ya? Keep the gangs off ya butt?

[ADiamond]

you guys want to syndicate in it?

It's not lending and they are not consumers, so I doubt any sort of consumer protection agency can help. It's a purchase and b2b transaction, c'mon you guys should know that. I think it's hilarious that ppl throw around the word "predatory." We are the prey, think about that. As if a few extra points from what you already sell makes a difference.

[Chambo]

you guys want to syndicate in it?

It's not lending and they are not consumers, so I doubt any sort of consumer protection agency can help. It's a purchase and b2b transaction, c'mon you guys should know that. I think it's hilarious that ppl throw around the word "predatory." We are the prey, think about that. As if a few extra points from what you already sell makes a difference.

You really are f'ed in the head if that is your attitude. Ironically, you have a felon as your avatar....

[Jared_Weitz]

you guys want to syndicate in it?

It's not lending and they are not consumers, so I doubt any sort of consumer protection agency can help. It's a purchase and b2b transaction, c'mon you guys should know that. I think it's hilarious that ppl throw around the word "predatory." We are the prey, think about that. As if a few extra points from what you already sell makes a difference.

Respectfully this is the worst show of this industry ever man, you should be careful what you put down publically but more importantly be even more careful about the rates you charge and how you're operating, while we are in an industry with higher risks/rates we ARE NOT in the business of gauging people and showing off their wounds......

[channin19]

You really are f'ed in the head if that is your attitude. Ironically, you have a felon as your avatar....

he's not ****ed in the head. He's uneducated. The guy has a selfie in his bathroom mirror as his LinkedIn avatar. The fact that he wants to raise funding for syndication is bewildering.His attitude towards those who actually work with or "sell" merchants is evident from prior posts. I would love to hear this guy on a call trying to figure out a small business owners needs and place a deal somewhere. Wouldn't know where to start.

a diamond at the end of the day you're a glorified paper pusher who maybe gets to push the fund button once in a while.

[jotucker1983]

Hey I guess when all you care about is making your next commission dollar and not about establishing a profitable long-term relationship with the client, then you will push out factors at 1.70.

I wonder who this merchant was and what type of situation were they in to accept something like this? Why would a lender structure a deal like this?

This reminds me of when I first started out in the merchant services industry as a whole, as a sub-agent to an Agent. The guys would do just all types insane, unethical, and flat out stupid things to screw merchants over and close a deal.

When I ventured out on my own, my UVP in the market was easy to discover, all I had to be was fair and honest, I would stand out immensely!

This is why I am pushing for Self Regulation (Industry Regulation). We as a industry should not just limit the amount of "stacks" but we should also be making a conscious effort to try and reduce down the pricing for those worthy of it, as well as putting a limit on how much we are going to charge.

Under no circumstances should the cost of the advance ever be at a 1.70. If the profile is that risky then just decline the file for goodness sakes.

[ADiamond]

Lol you guys are seriously the retarded ones. The deal didn't fund yesterday how bout that? And I don't sell **** or make commissions. You guys are just mad cuz all you can sell its a paper, probably couldn't sell a 1.49 75day if your life depended on it.

[jotucker1983]

Lol you guys are seriously the retarded ones. The deal didn't fund yesterday how bout that? And I don't sell **** or make commissions. You guys are just mad cuz all you can sell its a paper, probably couldn't sell a 1.49 75day if your life depended on it.

I wouldn't want to sell a three and a half month deal for 1.49 either, I mean that's better than your 1 month at 1.70, but unless the merchant is a very high risk merchant, I would look for a longer term.

Are you still with Cap Call? It's just funny how some of you guys get up on these Public Forums acting ridiculous, making your companies look very foolish in the process.

[4scaps]

He works for Evan. I am sure Evan is unaware of how this kid is blowing up Capcall, especially with his Strategic history.

[ADiamond]

the deal didnt fund, it wasnt our deal, it was someone who was going to fund 100% of the deal and I was underwriting it for him. none of this had anything to do with cap call, cap call doesnt do stuff like that. end of story. everyone needs to stop being so butt hurt for real. there are 6 funders in the deal that did the same exact thing & hypocritically had something derogatory to say about my post. at one point, ten positions deep this deal was - so let's make diamond the bad guy right? read the first 4 pages of this thread, let's be real.

[CreditGuy]

It's not just this deal. It is your history of being uneducated, uninformed, dishonest, and just plain smarmy. That you agreed to UW the deal demonstrates that you were, on some level, okay with the stacking this merchant out to a 7th position. At some point, you should develop some personal and professional ethics. They will serve you much better in the long than your current approach, which based on what I have observed, is immature, greedy, and ignorant.

[ADiamond]

It's not just this deal. It is your history of being uneducated, uninformed, dishonest, and just plain smarmy. That you agreed to UW the deal demonstrates that you were, on some level, okay with the stacking this merchant out to a 7th position. At some point, you should develop some personal and professional ethics. They will serve you much better in the long than your current approach, which based on what I have observed, is immature, greedy, and ignorant.

CreditGuy, I can always count on you. Is that your professional psychological analysis of me? What is that, your second profession, aside from holding "an executive position in a top five funding company?" Well thank you for leaving your throne and coming down from credit heaven for a second where they only have 1.12 buy rates and 36 month terms to comment on my peasant situation.

You know what the problem is? This type of thing happens every day in this industry and everyone is too scared to admit that if they could sell a deal like that they'd be laughing all the way to the bank. The number one rule that you all forget is NO MERCHANT IS LOYAL, AND EVERY MERCHANT KNOWS EXACTLY WHAT THEY ARE DOING. YOU TELL THEM YOUR CONTRACT HAS A NO STACK CLAUSE? THEY GO AND STACK. Creditguy, your company pays off three positions to have first, the same rep that brought you the deal goes and triple dips on commissions and PSF's and puts the merchant back in the same exact situation that you tried to help him crawl out of.

You think as an underwriter, I take reps deals that are brought to me and say "Hey merchant, you know what? HAHA your rep ripped you off like crazy on this, what are you nuts signing to these terms?"

No, that's not what I am here for. I am here doing my job in this big cluster **** of sub-prime just like the mortgage brokers of yesteryear, watching it all unfold. And you know what? I don't care. I really don't - I am in a position where I see fraud and merchants prey on funders more than you even know exists. I dont feel sorry for them, and why should you? If rep A doesnt close the 1.40 6 month second position, Rep B will come and get it done, then stack a 1.49 4 month on top of that three times over.

You guys act like it doesnt happen every day, or oh I'm sorry did you not want to speak on it and just pretend like you're all helping merchants advance their business?

[CreditGuy]

[ADiamond]

no anger bro, never. i am just way too honest and way too real for any of you fakes. the fact that I am singled out over something I am not guilty of is appalling, but you know what? it's all good. I know the truth about this merchant. the one funder out of 11 that knows how the merchant manages to pay everyone and doesnt care about terms. you keep sitting there feeling sorry for them, while I sit here and do my proper due dilly - happy monday!!!!!

[admin]

Thread closed. What a pleasant one it was.