[kcssb]

Just curious to see what's everybody's experience with GoTorro and that Start up Program they posted about?
Come across a lot of yahoos looking for start up funds! Are they even worth pursuing?

Thanks in advance for any input!

[Chambo]

had a couple of deals submitted there, but nothing stuck

[KTK]

I also would love some feedback on these guys as I've been considering trying them out. If we could monetize on the enormous amount of start up prospects that cross all our desks it would certainly help the bottom line.

Chambo, you certainly know your stuff, and I respect your opinion. If you wouldn't mind, I'd really appreciate your deeper thoughts. Meaning: after reviewing any underwriting guidelines you may have received from them or they explained to you, did you feel you brought them borrowers that fit their mold and they still declined?

I guess I am trying to see if they back up their bold statements made here, or they just want 1000's of submissions in search of the "Super A Grade" home runs.

Thanks in advance bro, if you wouldn't mind sharing your findings that is ;-)

[Chambo]

I also would love some feedback on these guys as I've been considering trying them out. If we could monetize on the enormous amount of start up prospects that cross all our desks it would certainly help the bottom line.

Chambo, you certainly know your stuff, and I respect your opinion. If you wouldn't mind, I'd really appreciate your deeper thoughts. Meaning: after reviewing any underwriting guidelines you may have received from them or they explained to you, did you feel you brought them borrowers that fit their mold and they still declined?

I guess I am trying to see if they back up their bold statements made here, or they just want 1000's of submissions in search of the "Super A Grade" home runs.

Thanks in advance bro, if you wouldn't mind sharing your findings that is ;-)

What UW guidelines? It is a start up. There is nothing to UW. All based on personal credit info

[Chambo]

We might have one deal go through though early next week, so stay tuned

[KTK]

Well that's what I mean. They have to have some sort of criteria one has to meet

[matt.slagowski@gotorro]

Hey guys, I'm a funding specialist over at Torro, if you have any questions feel free to call or email me anytime. My number is 1-866-858-2404 Ext. 3010. Email is matt.slagowski@gotorro.com. To answer a couple questions on here really quick, our start up program is based off of personal credit. So requirements for that would be a credit score above 600, over 21 years old, and no bankruptcy's in the last 4 years. Outside of those requirements we can get these deals done. The downside to these deals is that a lot of clients will have stipulations. For example, they may need to pay down credit cards, or if they have too many inquires within the last six months, we will have to wait for those to season before we go to funding. Deals with these conditions may take anywhere from 30-90 days to pay out.

[Chambo]

I was informed today that Yellowstone has actually funded about a half dozen deals in total with Torro, so I guess my floor is the odd team out here.

[KTK]

Thanks for posting your info Matt will be in touch.

Chambo your deal ever close? Just curious