[johndough17]

I see alot of chatter about backdooring and selling applications / leads from clients,

What are the laws pertaiing to circulation, distribution and selling ones financial information and applications without the clients written consent ? this would pertain to the ones that backdoor as well...

Its Illegal.. Period

What do you think.

Jerry, some of the direct funders in our space have seperate shops, or brokers they work with, to send apps and statements to, to close. It's in the iso agreement that's signed by the broker. Typically there is no exclusitivty unless it's breakout ondeck qspot, etc.

It's not just the high risk guys, even a/b/c shops do it (no sales team typically means another iso of theirs will close it, win win).

Some funders receive 20,000 apps and statements a month, and approve about 30%-60%, and fund 20%-25%. And what do you do with the ones just sitting there? You close them (once a broker shops it, and doesn't close it, if you don't do it, someone else will, it happens ALL the time).

From what I've heard and discussed the only regulation that might come to our industry any time soon, is having to disclose the points we make. Once that happens, it'll make our industry an extremely tough one to making a killing in, unless you're doing some high volume (1m-2m for yourself funded a month).

[ryan $]

Jerry, some of the direct funders in our space have seperate shops, or brokers they work with, to send apps and statements to, to close. It's in the iso agreement that's signed by the broker. Typically there is no exclusitivty unless it's breakout ondeck qspot, etc.

It's not just the high risk guys, even a/b/c shops do it (no sales team typically means another iso of theirs will close it, win win).

Some funders receive 20,000 apps and statements a month, and approve about 30%-60%, and fund 20%-25%. And what do you do with the ones just sitting there? You close them (once a broker shops it, and doesn't close it, if you don't do it, someone else will, it happens ALL the time).

From what I've heard and discussed the only regulation that might come to our industry any time soon, is having to disclose the points we make. Once that happens, it'll make our industry an extremely tough one to making a killing in, unless you're doing some high volume (1m-2m for yourself funded a month).

Thats why I dont like quarterspot - it shows commish in contracts