[J.Celifarco]

I totally agree with you on this John.

As a direct funder, I pay thousands of dollars a month to my analysts, pre-qualifying deals that come through our office. It is not unusual to spend hours working on a deal prequalifying it, getting me in a direct meeting with the client, moving it up to the chain for full underwriting, only to find out that the ISO sent it to six other lenders and they decided to go with someone else.

When I find this out, the ISO drops onto my **** list since they wasted my time and money. A little honesty up front goes a long way.

If an ISO wants to shop the deal to six lenders then have at it. When the client balks at price, daily payments or some other reason they won't bite, then bring it to me and we will see what we can do. Just be straight with me and don't bull**** me.

all this said if the bank tries to backdoor the deal that makes them automatically wrong no matter how many banks the ISO submitted to. If a bank doesn't like an ISO's process turn them off and dont work with them. This doesn't mean the bank has any right to try to fund the deal on their own