Knight Capital Leak?
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  1. #1
    Senior Member Reputation points: 43599 brokerCompany's Avatar
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    All merchants are fair game at Yellowstone, say good bye to your deal

  2. #2
    We have, unfortunately, just had a deal shuffled from Knight to First Merchant. As per our merchant " I just got a call from Rebecca at First Merchant saying that she knows Knight may have killed my deal, can she do anything to get me the money I need, all she would need is an updated application". The industry is getting shady

  3. #3
    Quote Originally Posted by MAEPRO View Post
    We have, unfortunately, just had a deal shuffled from Knight to First Merchant. As per our merchant " I just got a call from Rebecca at First Merchant saying that she knows Knight may have killed my deal, can she do anything to get me the money I need, all she would need is an updated application". The industry is getting shady
    Hello - I am the Sales Director at 1st Merchant. There is no one named Rebecca at 1st Merchant Funding employed here. By this, I am referring to the direct funding company in Miami Fl.

  4. #4
    Lol MAEPRO is the detective of this industry. Why are you trying to find trouble everywhere you go. If you don't like the industry get out. Lenders from ondeck to yellowstone have taken deals from me but i don't complain. Drink a cup of concrete or get out of the business.

  5. #5
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    Quote Originally Posted by fundingsource4 View Post
    Lol MAEPRO is the detective of this industry. Why are you trying to find trouble everywhere you go. If you don't like the industry get out. Lenders from ondeck to yellowstone have taken deals from me but i don't complain. Drink a cup of concrete or get out of the business.
    What do you mean by "taken"? That's kind of a blanket statement covering a lot of reputable companies. Just looking for clarification.

  6. #6
    Veteran Reputation points: 135672 Chambo's Avatar
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    Quote Originally Posted by brokerCompany View Post
    All merchants are fair game at Yellowstone, say good bye to your deal
    If you are going to bash Yellowstone...let's at least get the fact straight

    1) All merchants are NOT fair game.
    2) Anyone who submits no longer has exclusivity. First one back with signed contracts gets the deal.
    3) ISO business from one rep CANNOT be handed off to another rep at Yellowstone. Not unless the first rep DELIBERATELY did this. So nobody ius secretely redirecting and stealing your deals. IF you submit a deal and along with your rep, and another ISO submits that same deal (like NO FUNDER HAS EVER seen that before!), the FIRST group back with the signed contract gets the deal
    4) Yes, two different ISO's can hypothetically get the exact same offer form the same in house funder at Yellowstone

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