ISO's: is a false promise to sell a $20k deal worth ruining lender relations?
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  1. #1
    Senior Member Reputation points: 52185 ADiamond's Avatar
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    ISO's: is a false promise to sell a $20k deal worth ruining lender relations?

    Quote Originally Posted by rep
    Merchant was promised by original ISO that she was working with that they would reduce her payment on the 21st payment and they wouldn't answer her call, so she called to stop payment to get them to honor their word! (although the lender didn't promise this an outside sales office did) They only lowered payment. That was ok until she decided to search out another company. Hence, she is here.
    this is an email response from a rep I fund for, after asked why the merchant isn't paying her current advance.

    I run into this all the time and the deal usually goes bad, the ISO will tell the merchant that if he takes the money the lender will reduce the payment or refinance the advance after 1 month, YADA YADA YADA..... even when he knows it's not true.

    is it worth losing a client and ruining a relationship with a funder over 1 deal and possibly have your comm. clawed back, because you don't want to work hard enough to earn your take?
    Anthony Diamond
    Underwriter

  2. #2
    Veteran Reputation points: 135672 Chambo's Avatar
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    in this internet age/instant gratification world we live in?

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