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09-20-2016, 11:42 AM #1
Reputation points: 27404
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
If you know where the money comes from you know what the buy rates are... allowing the broker to know which lender can do what for their client.
I have 2 lenders with a 1.07 and 1.10 which no one else in the industry can claim. YES THAT MEANS I CAN MAKE 10 POINTS ON A 1.07 And client is fine. My seconded position buy rates are 1.12. So I do have to say these are very important if you are a business owner of a MCA company...
Like everest claims 1.15 buy rate. well that only for A+ paper which is only 3 month long.... NO ONE HAS EVER GOTTEN A LOAN FROM EVEREST AT A 1.15 Buy rate over 50k or longer than 3 months that I have found...
Anyway. Knowledge is power and if you know more, you can make a better informed decision for your merchant.
If you have to ask what the purpose of these questions, you may have been dealing with brokers more often then not no really losing out yourself and your client. sure you may 10 points but at what cost to the merchant.
This post is to help and inform. not to through poop on fan to see what sticks.
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