[HDF]

It seems lately that a lot of the direct funders are looking to hire more and more “outside” ISO relationship people. These positions sound like road warrior jobs, but seem to be more of deal facilitator roles in some cases.

Does anyone want to share an opinion on the new value these folks are bringing to your practice OTHER than quarterbacking and problem solving your submissions, addressing the inevitable hurdles and putting a rush on deals? Feel free to chime in from all sides of the equation.

What would you like to see from an Alt-Fi wholesaler type? Face to face visits? Marketing support and lead data? Tickets to sporting events/broadway shows/dinners/reach-arounds? Perhaps education seminars for rookies?

Feel free to give a shout out to those folks who are doing it right and adding value. They deserve it.

[TheShitzuofMCA]

In the cases I have seen, they do this because most direct funders have realized the market has changed. The competition has forced them to coddle and assist in getting deals closed. Majority of files today get declined so I think there is a premium placed on closing the offers sent out.

[fundgorilla]

We get the occasional visit, and when that visitor brings a nice bag from Katz', well, that makes a nice statement. If it were up to me, and I'm being absolutely serious here, I'd follow the Pharmaceutical Industry example and make sure my outside reps look like they got lost on their way to the Miss Hawaiian Tropic competition.

[J.Celifarco]

It seems lately that a lot of the direct funders are looking to hire more and more “outside” ISO relationship people. These positions sound like road warrior jobs, but seem to be more of deal facilitator roles in some cases.

Does anyone want to share an opinion on the new value these folks are bringing to your practice OTHER than quarterbacking and problem solving your submissions, addressing the inevitable hurdles and putting a rush on deals? Feel free to chime in from all sides of the equation.

What would you like to see from an Alt-Fi wholesaler type? Face to face visits? Marketing support and lead data? Tickets to sporting events/broadway shows/dinners/reach-arounds? Perhaps education seminars for rookies?

Feel free to give a shout out to those folks who are doing it right and adding value. They deserve it.

Honestly for me I think they slow the process down. The banks that I have the best relationships with and get deals done the fastest with the least complications are the banks that I can deal directly with an underwriter and not have to go through someone to get to the decision maker

[mcaguru]

Brokers today want a funding house that offers speed and looks to make an offer on any deal that can float (a great metaphor would be can the boat float???? and if there is a hole in the boat can it be plugged?? CRESTHILL tries to see evrey deal like that!!! can it float??!! small hole? can we plug it? is the hole that small that the water will only come in slow enough to get to the other side of the lake??!! -- if it CAN NOT then NO one should be funding that file!) they also want few stips and want decent commissions and they don't want the funding company contacting UNSOLD offers. having a rep come down is great for the hotel and airline industry.

[mcaguru]

Honestly for me I think they slow the process down. The banks that I have the best relationships with and get deals done the fastest with the least complications are the banks that I can deal directly with an underwriter and not have to go through someone to get to the decision maker

Underwriters very accessible last few months at our company. For those that have not worked with us yet or the last while now is a great time to submit

[TStein]

Underwriters very accessible last few months at our company. For those that have not worked with us yet or the last while now is a great time to submit

Is there anything Cresthill can't do? Surprised you guys aren't delivering children yet.

[bsmith]

Brokers today want a funding house that offers speed and looks to make an offer on any deal that can float (a great metaphor would be can the boat float???? and if there is a hole in the boat can it be plugged?? CRESTHILL tries to see evrey deal like that!!! can it float??!! small hole? can we plug it? is the hole that small that the water will only come in slow enough to get to the other side of the lake??!! -- if it CAN NOT then NO one should be funding that file!) they also want few stips and want decent commissions and they don't want the funding company contacting UNSOLD offers. having a rep come down is great for the hotel and airline industry.

I don't settle for less than double digit

[Funder Mark]

I don't settle for less than double digit

Isn't some guy advertising TRIPLE digits???

[mcaguru]

Is there anything Cresthill can't do? Surprised you guys aren't delivering children yet.

yep we don't fund used auto !

[mcaguru]

Is there anything Cresthill can't do? Surprised you guys aren't delivering children yet.

our employees are!

and we don't fund used auto ! we did for a long time and have the static pool to demonstrate they don't work out.

[iso@wallfunding]

yep we don't fund used auto !

If anyone is looking to get their used car dealers, construction, contracting, transportation clients funded, send them right over. Contact us for our ISO agreement, and lets get ready to fund!!

[bsmith]

If anyone is looking to get their used car dealers, construction, contracting, transportation clients funded, send them right over. Contact us for our ISO agreement, and lets get ready to fund!!

lol at how derailed this has gotten, talk about hijacking someone's thread

[mcaguru]

If anyone is looking to get their used car dealers, construction, contracting, transportation clients funded, send them right over. Contact us for our ISO agreement, and lets get ready to fund!!

construction, contracting, transportation we have on of the largest portfolio which demonstrates that we really like that space!

[J.Celifarco]

lol at how derailed this has gotten, talk about hijacking someone's thread

it was a good topic before the hijacking

[HDF]

Great point John Celifarco about slowing things down if there is another layer of relationships to navigate. Assuming that the business development "professional" wanting to visit you brings something of value to the table, it might help sales for you and them long term?

Has anyone ever been offered marketing assistance from a funder/bank? Or-- if you are a direct funder, do you ever offer marketing support/training to your ISOs?

[AlexSMF]

It seems lately that a lot of the direct funders are looking to hire more and more “outside” ISO relationship people. These positions sound like road warrior jobs, but seem to be more of deal facilitator roles in some cases.

Does anyone want to share an opinion on the new value these folks are bringing to your practice OTHER than quarterbacking and problem solving your submissions, addressing the inevitable hurdles and putting a rush on deals? Feel free to chime in from all sides of the equation.

What would you like to see from an Alt-Fi wholesaler type? Face to face visits? Marketing support and lead data? Tickets to sporting events/broadway shows/dinners/reach-arounds? Perhaps education seminars for rookies?

Feel free to give a shout out to those folks who are doing it right and adding value. They deserve it.

When I was in the mortgage industry, account executives aka relationship managers were key. When an account rep would come into our office to he would usually walk out with many more submissions than on days that he/she was not there. At the end of the day, people enjoy doing business with people they like, they develop almost a sense of loyalty. To me, that is the inherent value of a face to face ISO relationship manager. While they can come in and give presentations on new products or share some marketing ideas they hear are working without giving away specifics or even take a look at hard to do files to see if there is a way to structure it to make it work, at the end, the face to face in it of itself is the value.

[AndyYSCISOdept]

I would agree that the market place has changed in a way that has made "ISO Reps" or whatever you want to call them a necessity. For instance, if we at YSC waited for each file to pass through submissions process and were handled by one underwriting team, not only would our profits crumble we wouldn't fund anything due to the natural amount of time required to fund a deal start to finish.

In my position I act like a traffic cop, to make sure the flow of those ISO shops submitting fundable files get into the hands of the underwriters that will give decent approvals and get docs to that ISO as quick as possible. And instead of waiting around for an underwriter to answer your call, you can call my team and we'll go through anything you need to know.

Furthermore, the leverage gained by my constant contact with certain underwriters at YSC is passed down to the Reps so that they benefit from my proverbial "twisting of the arm" on said underwriter.

[AlexSMF]

When I was in the mortgage industry, account executives aka relationship managers were key. When an account rep would come into our office to he would usually walk out with many more submissions than on days that he/she was not there. At the end of the day, people enjoy doing business with people they like, they develop almost a sense of loyalty. To me, that is the inherent value of a face to face ISO relationship manager. While they can come in and give presentations on new products or share some marketing ideas they hear are working without giving away specifics or even take a look at hard to do files to see if there is a way to structure it to make it work, at the end, the face to face in it of itself is the value.

Oh and in terms of shout outs, Avi Dahan from yellowstone. Best relationship rep in the industry in my opinion.

[FUNd]

Oh and in terms of shout outs, Avi Dahan from yellowstone. Best relationship rep in the industry in my opinion.

Are you guys riding Avi's bologna pony again?

[bsmith]

construction, contracting, transportation we have on of the largest portfolio which demonstrates that we really like that space!

Way to try and hijack it back

[HDF]

The topic is outside reps and their proliferation among top funders. Not traffic cops - which YSCs does well from within.

[TheShitzuofMCA]

I would agree that the market place has changed in a way that has made "ISO Reps" or whatever you want to call them a necessity. For instance, if we at YSC waited for each file to pass through submissions process and were handled by one underwriting team, not only would our profits crumble we wouldn't fund anything due to the natural amount of time required to fund a deal start to finish.

In my position I act like a traffic cop, to make sure the flow of those ISO shops submitting fundable files get into the hands of the underwriters that will give decent approvals and get docs to that ISO as quick as possible. And instead of waiting around for an underwriter to answer your call, you can call my team and we'll go through anything you need to know.

Furthermore, the leverage gained by my constant contact with certain underwriters at YSC is passed down to the Reps so that they benefit from my proverbial "twisting of the arm" on said underwriter.

Andy I think you are spot on with your ISO Manager description. We have even gone a step further and had a Sr. Underwriter take the business development position so they could analyze files with the brokers on the phone. Talk about saving someone time we can advise the status of the file before its even submitted. Saving the broker precious time indeed.

[mcaguru]

Way to try and hijack it back

LOL. I have no bad intentions!

[TStein]

I am more than welcome to opening my door to outside reps who will treat me to a nice steak lunch to discuss topics I already know about with reps who went to NYC to model or act but couldn't make it.