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03-20-2015, 11:27 AM #1
Reputation points: 50583
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Ugh. It bothers me that no one says anything.
Funderscloud relies on automation and the timely response of the lenders who are signed up with the system.
Pros-
Online application and signed application- credit check...
upload statements to system- messaging etc.
easy submission to those who qualify for the deal
Cons-
You don't pick who you send the file to. It's a blind process. Yes, there are two versions of the system but the "better" version isn't a big difference.
The responses trickle back.
It goes outside of the normal day to day process. It causes you to have yet another system to use. Can it be used as an "all in one" - possibly. There are some gaps that need to be filled.
All of the deals get sent on funderscloud's behalf- therefore, even though you are doing all of the work- FC gets paid- then FC pays you. Does it make others feel uncomfortable because they feel they have no control over their portfolio? Yes.
Funders- It works for some- you get deals but it is a "shopping" experience. Some lenders hate it because the broker literally has these offers to shop.
There is a lot that can be done and the basic idea is great- that is all I am going to say.Amanda Kingsley
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