[Funder Mark]

I have a suspicious problem. For the second time in two days one ISO submits a deal on another ISO's application. Yesterday looks like straight up theft, the second submission was sent in 2 hours after the original, on the day the the application was signed. The second one is less obvious. The application was signed yesterday, the original ISO whose app is being used did not send it in. As a funder working with ISO's, what would the proper response be?

[J.Celifarco]

I have a suspicious problem. For the second time in two days one ISO submits a deal on another ISO's application. Yesterday looks like straight up theft, the second submission was sent in 2 hours after the original, on the day the the application was signed. The second one is less obvious. The application was signed yesterday, the original ISO whose app is being used did not send it in. As a funder working with ISO's, what would the proper response be?

I have a number of ISO's who submit deals to me, generally when I submit a deal to a bank on another companies app they will ask and I will usually send a copy of an ISO agreement I have with them to the bank to show there is nothing shady going on.

The other time I deal with this is if a merchant filled out one companies app and submitted to multiple companies I will put in the submission to the bank that I am competing on the deal. When this has happened i generally dont have any issues with the bank

[WhoisKingsley]

Ugh. Knowing that most people do not like to "co-broker" and make it clear that if someone is not a "direct funder" they will not work with them- odds are it was backdoored.

I had a few funders that tried to play me before like I was backdooring and would backdoor my file or send the company on the application an agreement. Since I am contracted- I have an open relationship w/ my brokers and let funders know now who I am working with and the brokers as well. If they want to sign up directly - hey, be my guest.

There are other syndicate partners who send other apps but it usually goes directly to higher management or UW...

The only thing I could think of is backdooring. Ask some questions that would only be known if the broker talked to the merchant. Ask the original broker who they sent it to other than you. If this happens more than once, just wait until you see the pattern of who and where and which shady broker is actually working for the "backdoorer" of the funding company.

It's a shame it has to go that far but it happens everyday.

[Funder Mark]

So I got on the phone about the second situation I mentioned. They just brought in the other ISO to be in charge of placing deals, but he does not yet have that companies email. Stupid decision but not my problem. The first looks like definite theft.

[jotucker1983]

I have a suspicious problem. For the second time in two days one ISO submits a deal on another ISO's application. Yesterday looks like straight up theft, the second submission was sent in 2 hours after the original, on the day the the application was signed. The second one is less obvious. The application was signed yesterday, the original ISO whose app is being used did not send it in. As a funder working with ISO's, what would the proper response be?

I honestly would just bring it to the broker(s) in question and ask them more details surrounding the generation of the application. Just inform them that there's a lot of unscrupulous activity going on in the industry including back-dooring, and your policy is just to make sure that everybody is properly credited/compensated for the time, energy and investment they put into their production.

[FUNd]

I would reach out to the top brass of both ISOs and get to the bottom of it immediately.

[Michael I]

So this happened to me once where my ISO rep called me and told me I just received your app from a different new ISO . I automatically thought someone was back dooring my deal . To make a long story short it came down to when the merchant told ISO 2 that he already sent everything to me and was not interested in filling out a new app . That ISO told him just send me the app you filled out . At first I was relieved that it wasn't a back door . But then I was pissed how someone was using my app with my logo and my name