Results 1 to 12 of 12
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04-04-2014, 11:07 AM #1
Namaa initiates no stacking policy for lenders: Who is namaa?????
I received a marketing email from WBL yesterday (I'm already an ISO with them). The subject of the email read:
**NAMAA INITIATES NO STACKING POLICY FOR LENDERS**
Then it gets even more confusing because in the body of the email is their normal marketing offer that says ·- LOWEST BUYRATES FOR 2ND POSITION
- · ZERO INDUSTRY RESTRICTIONS
- · SAME DAY PRE-APPROVAL
- · 2ND 3RD 4TH POSITIONS
Who is NAMAA?????????????????????????????
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04-04-2014, 11:12 AM #2
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
I got the same email lol! NAMAA is a self-regulating group of cash advance funders and credit card companies that share information on deadbeat merchants and scam artists to protect one another from unknowingly funding one of these companies. Membership consists of some (but not all) of the larger industry players.
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04-04-2014, 11:14 AM #3
Ah...thank you MCN!
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04-04-2014, 11:29 AM #4
North American Merchant Advance Association
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04-04-2014, 11:36 AM #5
I'm sorry... but WBL does some nasty things.... if you have poor credit, they will want you to back the loan with your HOUSE... then, they will give you WAY too much and over extend you... they want 4 to 1 collateralization for a loan where if your asset has 100K in equity they will value it at $60K which qualifies you for $15K.... GRIMEY!!!
snake oil...
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04-04-2014, 11:36 AM #6
Can someone please post the body of the email
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04-04-2014, 11:37 AM #7
also, NAMAA has ALWAYS been against stacking... that is nothing new... most lenders that are a part of NAMAA wont even do a deal if there are 2 open balances at the time...
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04-04-2014, 11:49 AM #8
Isaacdstern,
Here you go. I took out reps name and number.
SUBMIT YOUR DEALS TO @wbl.com OR CALL 212-220- AND EARN 14 POINTS !
cid:image001.png@01CF4E88.DA031E70
THE WBL ADVANTAGE
· LOWEST BUYRATES FOR 2ND POSITION
· ZERO INDUSTRY RESTRICTIONS
· SAME DAY PRE-APPROVAL
· 2ND 3RD 4TH POSITIONS
· HIGHEST APPROVAL AMOUNTS IN THE INDUSTRY
· NO MINIMUM FICO
· SECURED & UNSECURED OFFERS ON EVERY DEAL
· MINIMUM 6 MONTHS IN BUSINESS
· WE PAY OUR BROKERS WITHIN 48 HOURS
Regards,
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04-04-2014, 12:02 PM #9
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04-04-2014, 03:32 PM #10
- Join Date
- Dec 2012
- Posts
- 116
This is all WBL. Nothing to do with us. Got our attention too.
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04-14-2014, 07:40 PM #11
- Join Date
- Mar 2013
- Posts
- 21
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04-15-2014, 09:48 AM #12
NCL,
No, they will pay ISO's up to 14 points, they will give you a buy rate. If you have never done business with them, they will low ball you in the ISO agreement. Don't take "no" for an answer. You know what they pay...
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