Here's some food for thought- Especially for the "direct" lenders.

When you receive a submission from one of your ISO's and it is NOT on their Application- What do you do? Do you process it? Do you question it? How many of those submissions actually close? How many dollars are wasted on UW because of this?

No one likes to do bad business and no one likes to waste time. Time=Money... you waste my time, I lose money- and I am sure a lot of you agree.
I hope others look at the complications and adopt better practices.

NEW RULE - If it isn't on your application, I will not touch it. Automatic decline.
If you are a Sub-Broker, meaning you work with certain brokers, there should be a way to manage this to make it okay.

You must confirm that you are in direct contact with the business owner and know what type of financing they want. If you don't, you are not doing your job. (It is up to you to keep your merchant, shopping them and trying to save them with a 1.45 rate offer will not make them yours either).


I am sure some of the "good" guys have relationships and never have these issues, but as time goes by, some situations should be given an extra 10 seconds to think to yourself "Am I wasting my time?"