[isaacdstern]

Joseph-well said sir...i agree with a lot of what you wrote ...especially the points you made about speed and automating underwriting...its beyond obvious to me anyways that you simply cant eliminate the human touch...imagine a computer trying to verify that a merchant is current with a landlord...lol

What is the difference between: I can fund you today or you’ll be funded within a few [days]?

In most other financial service industries, it might cost you the deal. In the MCA world, it likely WILL cost you the deal. There is an aspect of this business that cannot be argued, speed is the key – you slow, you blow.

The other side of the equation is: How can you avoid the human touch; the sound-minded, common sense underwriting nuances that built the infrastructure of this industry? Answer: You can’t.

Like an old-school jam, you don’t have to judge it…it works…it always will, but there’s just something about it that feels out of touch.

Don't forget that, adjust-or-die is the mantra that allowed us to reinvent ourselves after the 2008 crisis. So the underlying question is, how else should we adjust?

Does instant coffee taste better than slow brewed – hell no! But in today’s world, who has time to wait for later, for what you could get RIGHT NOW!

Lets putting aside the passé question of: “What are these Direct Funders thinking?” and address the real one...

"Is document verification redundancy a prudent form of securitizing [the risk], or can technology lead the way to a faster and just as accurate approval?"

Paperless is here, Just add water – You’re funded.

[AndyYSCISOdept]

Joseph-well said sir...i agree with a lot of what you wrote ...especially the points you made about speed and automating underwriting...its beyond obvious to me anyways that you simply cant eliminate the human touch...imagine a computer trying to verify that a merchant is current with a landlord...lol

Isaac, I agree 100% while there are a lot of things that can be done to help technology streamline our processes, there will NEVER EVER be a day where you can completely get rid of the human element in scrutinizing a file for funding. Just not gonna happen.