[isaacdstern]

The new policy will go into effect starting next week!

Have a great weekend everyone!

We will be replacing the 14-day exclusivity rule with a 0-day exclusivity rule. On Monday March 14, 2016, the following new rules regarding exclusivity will take effect:

• The only way to get exclusivity on a deal is to submit a signed contract or fund a deal.

• Until you submit a signed contract, that merchant is open to be closed by any other rep.

• Submitting a signed contract to ops will get you 7 calendar days of exclusivity on that merchant. Ops will need to approve the contract just like ops approves submissions.

• Once your 7 days expires, you can still try to fund that merchant unless another rep submits a signed contract, which would result in the other rep getting exclusivity for 7 days. Even if you submit a second signed contract—whether during your 7 day exclusivity period or after—you do not get a second 7 day exclusivity period or any extension or your exclusivity. You can only have one 7 day exclusivity period per merchant.

• Even if another rep has exclusivity (they submitted a signed contract within the past 7 days) you can still submit and work a lead in case they are not successful in funding the deal before the end of their exclusivity period.


• For the sake of transparency, all reps that submits a deal with the same EIN as another rep within 30 days will be notified of all other reps that:

•
o submit or have submitted that deal
o submit a signed contract for that deal
o fund the deal
o are not successful in funding the deal before their exclusivity period is up

• Please note that applications still need to be submitted to conflict check prior to submitting deals to the funders with a completed application and 3 full months of bank statements.
o Applications will still be rejected if there is a conflict (the merchant has an open balance, a defaulted balance, or has had a deal paid off in the last 14 days).

[MCNetwork]

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[mcaguru]

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aman!

[Michael I]

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good call . just hope i an an iso from district 1 and not one of the other district that start off as a handicap

[Michael I]

after funding how long are you protected for once paid off ?
will everyone have same approvals ,commission etc. so we all be on even playing field ?
feel free to pm me answer

[J.Celifarco]

after funding how long are you protected for once paid off ?
will everyone have same approvals ,commission etc. so we all be on even playing field ?
feel free to pm me answer

good questions please post because I am curious about this as well

[KTK]

I believe if I am reading correctly, it's 14 days protection after balance being paid in full

I too would like to hear if the same approvals and commissions are issued, and if that information is disclosed to the rep who may send in after an offer is issued

[isaacdstern]

we are leaving the exclusivity for paid in full files at 14 days.


We currently have 16 in house funders and not one of them is identical to the other.

Each iso rep has their "go to" funders and considering every funder has a different underwriting style its very unlikely that the approvals will be identical.

They will in most cases be in the same range though.

[CreditGuy]

We currently have 16 in house funders and not one of them is identical to the other.

I've never understood this part of the YSC business model. It seems needlessly complicated and cannibalistic/inefficient. What's the rationale behind this?

[Michael I]

we are leaving the exclusivity for paid in full files at 14 days.


We currently have 16 in house funders and not one of them is identical to the other.

Each iso rep has their "go to" funders and considering every funder has a different underwriting style its very unlikely that the approvals will be identical.

They will in most cases be in the same range though.

isaac
to be clear the answer is that people will get different approvals and different commissions built in so they will not be on an even playing field .
You will let me know i have competition will you also let me know if his offer is better or worse ?

[fundgorilla]

Or, stated another way: "Any fool can make a rule and every fool will follow it."

[J.Celifarco]

Or, stated another way: "Any fool can make a rule and every fool will follow it."

I would have to disagree with you. I have never had a reason to not trust them so until I do I will assume everything will be on the up and up. I do very little business with them and a big reason for that is a lot of files I try to submit they already have in house. I like this policy I think it will give the people in my office more of a chance to get deals done

[Michael I]

I would have to disagree with you. I have never had a reason to not trust them so until I do I will assume everything will be on the up and up. I do very little business with them and a big reason for that is a lot of files I try to submit they already have in house. I like this policy I think it will give the people in my office more of a chance to get deals done

yellow stone never gave me a reason not to trust them . and the stupid shady stuff i have seen done to merchants have been less and less . it is clear something changed for the better this past year

[isaacdstern]

In regards to different in house funders offering different approvals...that's the beauty of our model its not one size fits all and can literally see a few different offers on a single deal and bring the best one to your merchant.

[isaacdstern]

no reason to get nasty here.....

We are actually changing our rules at the request of dozens of our largest isos

Or, stated another way: "Any fool can make a rule and every fool will follow it."

[Franklin]

Or, stated another way: "Any fool can make a rule and every fool will follow it."

More like "The man with the gold makes the rules", or in this case, the Men. If my customers responsible for 80% of my growing revenue all asked me for a petition, I would grant it too, not even a question there. How could a prudent company not give what their market is telling them they want.

[AndyYSCISOdept]

Look, the fact of the matter is I can Guarantee you that if you send Yellowstone a deal that has any chance of getting funded at al that one of our guys will give your merchant a shot. If you don't work with us now I encourage you to sign up (doesnt necessarily have to be me) with us and see your bottom line increase. Let the games begin. Call me with questions 347.464.0785

[fundgorilla]

Tell me how this keeps Yellowstone from taking in my app, passing that app to one of the in-house brokers, and then that broker calls my client and says something to the effect of: "Cut out the middleman and send the app directly to me"? Is there any protection against something like that?

Moreover, I find this clause troubling:


• "For the sake of transparency, all reps that submits a deal with the same EIN as another rep within 30 days will be notified of all other reps that:

•
o submit or have submitted that deal
o submit a signed contract for that deal
o fund the deal
o are not successful in funding the deal before their exclusivity period is up"

Does this mean that you'll be sending me the contact names and firm data of all of my competitors for the deal? "Let's see....looks like Steve Davis at DD Funding has my deal too, and he's at 45687 Maiden Lane....hmmm.....let me just call in a bomb threat."

[J.Celifarco]

Tell me how this keeps Yellowstone from taking in my app, passing that app to one of the in-house brokers, and then that broker calls my client and says something to the effect of: "Cut out the middleman and send the app directly to me"? Is there any protection against something like that?

Moreover, I find this clause troubling:


• "For the sake of transparency, all reps that submits a deal with the same EIN as another rep within 30 days will be notified of all other reps that:

•
o submit or have submitted that deal
o submit a signed contract for that deal
o fund the deal
o are not successful in funding the deal before their exclusivity period is up"

Does this mean that you'll be sending me the contact names and firm data of all of my competitors for the deal? "Let's see....looks like Steve Davis at GC Funding has my deal too, and he's at 45687 Maiden Lane....hmmm.....let me just call in a bomb threat."

at some point you have to either decide to trust or not trust a funder. If you have a iso agreement and you understand the rules it comes down to a simple question do you trust the funder.. If you do then there is no reason to ask the question, if you dont then why are you working with them

[fundgorilla]

at some point you have to either decide to trust or not trust a funder. If you have a iso agreement and you understand the rules it comes down to a simple question do you trust the funder.. If you do then there is no reason to ask the question, if you dont then why are you working with them

Some of this seems to telegraph the concept that you simply can't trust them up front. With zero exclusivity, I would expect that client names and phone numbers would be rather leaky to say the least, and for me it opens the door for all sorts of skulduggery. My suspicion is that others will realize this too, and sure, if I can't get a guy approved at any other shoppe and the deal is dead without a YSC submission then why not - otherwise it seems like you may as well staple the new account form to the nearst lamppost when you receive it. There's no way I'd send anything other than the shakiest paper to this firm under these conditions.

[AndyYSCISOdept]

Look the fact is, this change is rules is going to eliminate the whole "my merchant only wants to work with me" argument

[isaacdstern]

in regards to trust.....lets put it this way

In a typical month we fund over 1000 of the hardest to fund deals for isos and typically pay them well over $3 Million a month in commissions.

We help isos who spend their hard earned money on marketing monetize all the deals no one else wants to fund which in my opinion makes us one of the most necessary companies out there.

[HDF]

"In a typical month we fund over 1000 of the hardest to fund deals for isos and typically pay them well over $3 Million a month in commissions."

You fund, the merchant pays the commish.

[AndyYSCISOdept]

"In a typical month we fund over 1000 of the hardest to fund deals for isos and typically pay them well over $3 Million a month in commissions."

You fund, the merchant pays the commish.

that makes 0 cents or sense

[funding pro]

But what happens if my YSC rep submits a deal to underwriters A, B and C but another rep submits the deal to underwriters B, C and D and at the end D has the best offer? Am I given the offer from D even though my rep never sent my deal to that underwriter?