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11-16-2018, 01:36 PM #1
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Mantis / cresthill
im curious to hear other peoples experience with them
my experience with them has been they give some nice approvals but fund 1 out of every 10 signed contracts
so wondering if its because of my rep or if its the entire company that just doesn't give out approvals that will actually fund
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11-16-2018, 01:38 PM #2
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in general, if you can't convert apps to funding's , prequals offers mean nothing. what's important is how many signed contracts actually fund. that's a tell tale sign of who you want to do the bulk of your business with. Curious, what are the declination reasons for the 9 signed contracts that didn't fund there
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11-16-2018, 01:44 PM #3
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11-16-2018, 01:46 PM #4
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Bingo ^ don't ever let a signed contract decline let you from going elsewhere to fund it.
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11-16-2018, 01:46 PM #5
As much flack as Marcus gets on here (I'd say he brings upon about 90% upon himself), whenever they give me the best approval on a deal, it closes less than two hours upon all docs and stips in. More than satisfied with the work MD does on my files. Only complaint are they're a little heavier on stips for a high risk lender but its worth it when they blow other offers out the water.
Gary Axisa
Blue Streak Capital, Inc.
PM me for my email
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11-16-2018, 01:48 PM #6
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I see the daily hugh list of signed contracts back-in vast majority get funded...I am the guy that generally believes everything people say if you are having 9 out of 10 deals get killed in final underwriting you need to really ask yourself were are your leads coming from ? are they deals that just got funded the day before and trying to double fund and our underwriters are just catching the deals trying to get double funded ?
I am not saying you are trying to double fund but evrey day we have deals that got killed because merchant got funded prior to us funding the deal. or merchant is negative or etc. we are from the few funders that have NO capital limitations and hate more then the ISo to have to kill a deal.Last edited by mcaguru; 11-16-2018 at 01:52 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 01:52 PM #7
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high risk funder's should never have a 1/10 funded contracts in ratio unless they are literally not even looking at the file until the very end and just shooting spaghetti on wall offers to get contracts in to decline or revise them which is a total waste of time
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11-16-2018, 01:54 PM #8
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Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 01:56 PM #9
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11-16-2018, 02:00 PM #10
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11-16-2018, 02:02 PM #11
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PM me who your rep is...contracts should be ASAP! unless your asking at 7AM or after hours...However i will meet the team to make sure Contract request are RUSHED!!
Last edited by mcaguru; 11-16-2018 at 02:06 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 02:08 PM #12
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its just not a good experience for me with your company there is so much more wrong
from how long it actually takes to get the offer
and you guys dont even count the positions that we specifically outline in our submissions (for example we list merchant has 4 positions and your underwriting prices it as a 3rd)
when we send our subs its all black and white with an MTD for every deal so you can give an accurate offer
in any case just wanted to hear other experiences
iam for one done sending anything else in
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11-16-2018, 02:09 PM #13
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Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 02:11 PM #14
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11-16-2018, 02:11 PM #15
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11-16-2018, 02:13 PM #16
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11-16-2018, 02:17 PM #17
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Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 02:29 PM #18
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11-16-2018, 02:38 PM #19
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I feel like Mantis funds 9 out of 10 signed contracts I submit.
With that having been said, Marcus should be kicked in the nuts every few days for no good reason. And he knows it.
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11-16-2018, 02:40 PM #20
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But all issues aside. I talk to perhaps more ISO's / broker then many others in my position and they almost all tell me that deals dying in final underwriting has been increasing across the board with all funders in the last year or two then all the years before that combined..I don't know if now the time to debate why that is happening NOW with all the B-D funding houses.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 02:46 PM #21
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11-16-2018, 02:47 PM #22
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11-16-2018, 02:48 PM #23
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No not 4000 files!
I was saying if we are funding 1 out of 10 (of course that's not the reality) and in reality we fund 30-40 files per day would mean we are getting back 300-400 contracts a day which we are not !Last edited by mcaguru; 11-16-2018 at 02:51 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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11-16-2018, 02:56 PM #24
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11-16-2018, 05:29 PM #25
Well For me Mantis is the last option. After I get declines from 15 funders I send it to Mantis. They killed so many files in final underwriting.
Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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