[Matrix1]

Ya know? I'd like to think that we're all on the same team here when it comes to getting deals funded. I get that a deal on a Friday is a risky move but when all stips are in and the agreement is signed and all he needs is the funding call and the wire. If it's a Friday, the least you could do is get the funding call done. I don't care if the funds haven't gone out till Monday but when Monday comes and the merchant begins to reconsider and buyers remorse sets in. I can easily reclose him and assure him the funds are being transferred now so relax. Not okay the funding call is coming still. No!! It's 2:00pm, the sun is not setting, why are you running home already. As the lender. Maybe you should consider where merchants are in the process before running off and if a quick funding call is needed then do it. Do we really need to break it down that you're a $30,000 a year salaried employee and our livelihood is based on your decisions.

[Chambo]

if only it were that fluid and easy

[anonymous]

if only it were that fluid and easy

...making a phone call?

[J.Celifarco]

unfortunately at many of the funders in this industry where a merchant is in the funding process or their motivation, doesn't come into the decision making process.. Everything you say here is true, now try to fix it goods luck

[anonymous]

unfortunately at many of the funders in this industry where a merchant is or their motivation doesn't come into the decision making process.. Everything you say here is true now try to fix it goods luck

dwayne?

[Chambo]

John is right. To elaborate on my above post, the funds out there have a different agenda than brokers. OF COURSE they want to see deals funded, but they want to cross their T's and dot their I's as much as possible too, because they are either directly, or indirectly, responsible for the funds being released. To some, that might mean calling on a recorded line right before funding, or doing one last log in right before funding, or one last background check. Varies from deal to deal, funder to funder.

Would it be more convenient for both merchant and rep to wrap things up on Friday, only to fund Monday morning? Yeah, but like I said, different agenda

This is also why 95% of all UW'ers out there wouldn't last 30 days as a sales rep.

[Matrix1]

I would love to believe there was a way to fix it but this definitely seems to be a A vicious cycle at times. Like I get it's Friday and I respect people's religions and holidays and everything else that comes with that. I also think it comes down to the rep you're working with at whichever lender you're working with. But it seems no matter how good of a relationship you have with them what it comes to Friday's all bets are off. Unfortunately

[J.Celifarco]

I would love to believe there was a way to fix it but this definitely seems to be a A vicious cycle at times. Like I get it's Friday and I respect people's religions and holidays and everything else that comes with that. I also think it comes down to the rep you're working with at whichever lender you're working with. But it seems no matter how good of a relationship you have with them what it comes to Friday's all bets are off. Unfortunately

It come down to communication plain and simple. If the information was more free flowing between funders and sales reps and sales reps and merchants a lot of these issues would never come to be issues.

[anonymous]

Yeah, but like I said, different agenda

Is the common agenda [not] to fund accounts, I'm confused? This doesn't sound like miscommunication, just another funder who doesn't have their **** together. If a funder doesn't care about their partners, or the merchants they are funding - why would anyone ever send them business? Complete stips on Friday morning (on a cash advance deal). How much material is there to review and how long does it take one [competent] person to review said information. Longer than 1 business day? Nah.

[J.Celifarco]

I dont disagree, my point is if there is more communication during the process if something isnt going to get done it would be less of an issue if the rep and the merchant was expecting it rather then it coming as a surprise

[anonymous]

I dont disagree, my point is if there is more communication during the process if something isnt going to get done it would be less of an issue if the rep and the merchant was expecting it rather then it coming as a surprise

how does that relate to this scenario?

[anonymous]

> waiting on chambo's rebuttal

[J.Celifarco]

how does that relate to this scenario?

because yes as a sales rep we want everything done immediately as soon as we send docs in but we also know that is not the case. If there was more communication during the process and we knew what was happening our expectations may be a little more in line with the funders.

[anonymous]

because yes as a sales rep we want everything done immediately as soon as we send docs in but we also know that is not the case. If there was more communication during the process and we knew what was happening our expectations may be a little more in line with the funders.

what does communication have to do with a company taking more than a day to review basic stips on a cash advance? you keep going back to the same talking point which is a complete non-factor to begin with - slightly reworded each time. Is there anything of actual substance you would like to contribute to this thread? Or are you just trying to outpost the rest of us to hide the fact that you & chambo probably should have skipped out on this one? lol

[Matrix1]

I thank all of you for your responses. All of you have made some great points

[anonymous]

I thank all of you for your responses. All of you have made some great points

op even feels bad for you at this point...

[J.Celifarco]

wow someone seems exceptionally angry. SO my point is **** happens, for whatever reason if a funder is not going to get things done in the time frame the rep is expecting communication could make this less of a problem. You seem to believe that all funders no matter the case should be able to get a deal done same day if they receive the stips that morning. I think most people on here would agree that even though we wish that were so in most cases it is not how funders operate. I am trying to point out how this could go more smoothly, why you seem to have such issue with this I am not sure.

[anonymous]

wow someone seems exceptionally angry. SO my point is **** happens for whatever reason if a funder is not going to get things done in the time frame the rep is expecting communication could make this less of a problem. You seem to believe that all funders no matter the case should be able to get a deal done same day if they receive the stips that morning. I think most people on here would agree that even though we wish that were so in most cases it is not how funders operate. I am trying to point out how this could go more smoothly, why you seem to have such issue with this I am not sure.

yeah, super upset over Matrix1's deal, not sure how i'll ever bounce back. nice job re-wording the same nonsense yet again. still has nothing to do with op. that said, if you try re-wording for a 6th time, we may have something here!

[J.Celifarco]

Good luck with your deal Matrix, hopefully its gets funded. I am not sure when giving opinion or advice became a bad thing but anonymous whatever your issue you have a fantastic day...

[Matrix1]

Thank you so much John and I wish you a most successful day and year

[anonymous]

Good luck with your deal Matrix, hopefully its gets funded. I am not sure when giving opinion or advice became a bad thing but anonymous whatever your issue you have a fantastic day...

...just trying to stay on topic in order to generate relevant dialogue rather than having one funder come to another's aid, using off topic content in a meager attempt to justify incompetence.

[Chambo]

Is the common agenda [not] to fund accounts, I'm confused? This doesn't sound like miscommunication, just another funder who doesn't have their **** together. If a funder doesn't care about their partners, or the merchants they are funding - why would anyone ever send them business? Complete stips on Friday morning (on a cash advance deal). How much material is there to review and how long does it take one [competent] person to review said information. Longer than 1 business day? Nah.

Most funds do NOT want UW'ers to be influenced by sales reps. To them, we are all just trying to get everything funded to make a commission, and rarely care about the funds actually coming back (thus, clawback policies were instituted). Most UW'ers at most funds are paid a salary, so when that Friday horn blows, they are Audi 5000. They are getting paid whether the deal funds, Friday, Monday, or Tuesday....heck, even if the deal doesn't fund. They are MORE concerned with protecting the funds of their employer (which one can understand to an extent). So if they feel there is one more thing they need to address, or one more document, or they just feel like waiting until Monday to see weekend batches, they are going to do it. UW'ers don't have to deal with sales reps. That is what BD Reps and Mgmt are for.

That is why I said, 95% of UW'ers wouldn't last a month as a commission only sales rep

[J.Celifarco]

...just trying to stay on topic in order to generate relevant dialogue rather than having one funder come to another's aid, using off topic content in a meager attempt to justify incompetence.

its not always incompetence if something takes more then a day. A large majority of companies do most of the underwriting after contracts and stips are received. Larger deals have more steps involved. You are trying to put blanket standards across the board and that just doesn't work. Believe me I agree there is plenty of incompetence to go around in this industry but blanket statements like yours just are not the case

[anonymous]

Most funds do NOT want UW'ers to be influenced by sales reps. To them, we are all just trying to get everything funded to make a commission, and rarely care about the funds actually coming back (thus, clawback policies were instituted). Most UW'ers at most funds are paid a salary, so when that Friday horn blows, they are Audi 5000. They are getting paid whether the deal funds, Friday, Monday, or Tuesday....heck, even if the deal doesn't fund. They are MORE concerned with protecting the funds of their employer (which one can understand to an extent). So if they feel there is one more thing they need to address, or one more document, or they just feel like waiting until Monday to see weekend batches, they are going to do it. UW'ers don't have to deal with sales reps. That is what BD Reps and Mgmt are for.

That is why I said, 95% of UW'ers wouldn't last a month as a commission only sales rep

While I understand and agree with your point (to an extent), an adequately trained chimpanzee can probably review mca stips in an hour or less. It's not rocket science. If your salaried employees are lazy, incentivize them. Brokers can't be held responsible for the funder's employee's morale. All we ask is that they are efficient with the MINIMAL amount of work involved on a funder's side to complete a transaction. If they can't effectively do so - on to the next.

[anonymous]

its not always incompetence if something takes more then a day. A large majority of companies do most of the underwriting after contracts and stips are received. Larger deals have more steps involved. You are trying to put blanket standards across the board and that just doesn't work. Believe me I agree there is plenty of incompetence to go around in this industry but blanket statements like yours just are not the case

if there was anything taking more than a day (tax verification for example), i'm pretty sure the broker wouldn't be posting about it? that's something understandable. a complete package on Friday morning and crickets in the afternoon however, is not. To me at least... Which blanket statement? Felt as though all of my comments have been extremely direct...

that said, you also forgot to mention communication, which I personally consider to be of paramount importance