Response to my Undercover Banker Videos

  14 comments

14 Responses to “Response to my Undercover Banker Videos”

1. David Baker Says:
   August 11th, 2009 at 1:42 pm

   I guess I don't understand why someone would admit to being one of the "zombie" banks in an effort to clear the likenesses that they have with what was revealed in the videos?

   I am a mortgage broker, and I use banks and investor groups to obtain the best financing optinos for my customers. Period.

   If MCC is a broker - great. If they are a bank great. The point is that they are making things happen, and if they are brokering out loans (as I do) they obviously have partnered with the banks and investors that are freeing up cash flow. The "zombie" banks clearly are not - and I've seen it nationwide at this point.

   While the banks try to continually "level" the playing field and get rid of their competition (MCC and brokers in general) they don't see where that is going to put them in the end. If you shut out the brokers and all that is left is the retail banker - you are going to have Uncle Sam up in all of your business, all the time.

   Consumer choice is what matters most, and being the choice is the hardest part. Making things happen and stirring the pot once in awhile is a good way to get people to take notice. Good work, Chris.

2. Lisa Chapman Says:
   August 11th, 2009 at 1:42 pm

   Your undercover story is right on the money. We have a residential construction company and can not get any help any where. I would love for someone to do a cover on residential. We are currently looking for private investors for a bond program. If you have any contacts please let us know. Thank you for your time and efforts.

3. Jack Smith Says:
   August 11th, 2009 at 1:50 pm

   Nice Job..You have hit the nail on the head as far as the needs regarding 7a's and 504 loans.

4. Supporting MCC Says:
   August 11th, 2009 at 1:59 pm

   Mr. Anonymous should think about spending more time on his own creative promotion instead of spending his time criticizing Chris for his brilliant display of what truly is going on out there. These videos were only broadcasting the truth of what is actually happening out there. It's unfortunate that Mr. Anonymous can't see that Chris was trying to prove something much more broad than just trying to promote himself and his company. What I took from it was the EXACT thoughts that flow through my head DAILY. We are going to go down in flames if we don't start paying attention to who we are hiring in these banks and start teaching them the products they have to offer their clients. It's a major problem we face as a nation. These banks are laying off the educated employees they have in their branched so that they can hire someone else who will accept a lessor salary because they are desperate for a job. It's a BIG MISTAKE. It's what got us all here in the first place. Loan officers were pulled off the streets to sell people loans for their most expensive and precious assets and they were not educated enought to help these people make an informed decision on what they were doing. These bankers he visited CLEARLY displayed the unforunate set of circumstances we face by not knowing a thing about what they were selling! Mr. Anonymous you need to take a look at the bigger picture instead of just jumping to a conclusion and commenting with such ignorance. I thought it was great. I am launching a new product for my clients next week along with an incredible new website that will educate people like Mr. Anonymous on what is going on out there and how we can fix it. I will most DEFINITELY be including videos such as the ones Chris put out there for us.

5. Braudis Lee Pegram Says:
   August 11th, 2009 at 2:34 pm

   Since when does a visit to a retail bank need to be "announced"? You didn't ask to speak to the CEO or the President. And if in fact the commentator is one of those "Zombie" banks, then that would explain the many inaccuracies in the statements. I was inclined to say "his" statements. But he may have been a her. Ah, the problems of anonymity.

   MY only bone to pick with you is that one of your LOs told me today you still don't lend in Michigan. I have a 450k loan that's perfect for 504. This may be an opportunity for Mercantile Capital to reconsider. Anyway, I like your business posture; and as Yoda might say, "…stand up guy you are." Keep up the good work!

6. Russell Davis Says:
   August 11th, 2009 at 2:53 pm

   Hi Chris,
   I have encountered the exact same reaction from many local banks. I don't mind telling any of them what I think about their greed and very bad habits that cost the small business owner a ton of money and lost equity.
   If I can help you any way in your endeavor I would be glad to do so.
   Russell Davis, President
   Southern Commercial Corp

7. Les Gay Says:
   August 11th, 2009 at 3:08 pm

   Chris:

   It seems you have more knowledge of your business and the BANK business than the banker. You prove my opinion the bankers understand less about their product than any other industry.

   Keep up the good work.

   Les Gay

8. David Smith Says:
   August 11th, 2009 at 3:47 pm

   I truly enjoyed the video, at first I thought you were in my local banks. The fools around here couldn't explain the Arc loan either, thinking it about a big boat with animals on it.

9. Will Crooks Says:
   August 11th, 2009 at 3:57 pm

   This "Mr. Anonymous" talks about an open debate, but his post holds a tone closer to a personal attack. Its hard to respect any points made by someone who has to resort to that kind of action just to get attention.

   Good job setting the record straight Chris !

10. Chuck Siple Says:
    August 12th, 2009 at 8:15 am

    Chris,

    Keep up the good work. Integrity, concern for the best interests of the customer and a good product should always win out over incompetence and apathy.

    I say 'should always' because these days I have this nervous tic concerning our government. It seems that they don't value the independent, successful, small business entrepreneur. These are the people that can't control with their bailout largesse mentality and this threatens their authority. A stroke of the pen can dramatically alter any program regardless of it's worth (504, 7a, etc.).

    Good luck.

11. Pete Papa Says:
    August 12th, 2009 at 10:16 am

    Chris - Well Done!

    It is interesting to note that the anonymous commentator decided to attack you as opposed to defending what was actually said about the 'zombie' bankers like him/her. You must be hitting a nerve otherwise the anoymous 'zombie' banker would have defended him/herself rather that attack you!

12. Greg Sausaman Says:
    August 12th, 2009 at 10:33 am

    I got a kick out of the 4 video clips. Any chain is judged by the weakest links. There seem to be many of those out there.

    Chris, I applaud you for being straight forward. The lending climate for the small business person is very limited. Traditional banks just don't seem interested, so alternatives are necessary.

    History says that those with a great product, a competent organization to deliver that product, and a work ethic that chooses to do what it takes to succeed are the benchmarks for greatness. That seems to be what Chris and his team provide. Good for you. Keep up the good work, and count us in.

13. Big Papa Says:
    August 12th, 2009 at 11:24 am

    Dear Anonymous,
    It appears that Chris' video touched a sensitive spot with you. One thing for sure, the taping was not scripted. So the conclusion is: the persons questioned did not have a clue about the products being inquired about. Your concern should have been centered on the fact that the financial instutions employee's were not well trained about their respective loan products. Instead youfocused on the fee income Chris was able to earn / negotiate by providing the best loan product for his clients. Could it have been that Chris out negtiated your bank and you are still seething from losing another deal to Mercantile Capital Corporation? Anonymous, I would not want anyone to know who i was either. A knowledgable employee is the best defense in a competative environment. Good job Chris!

14. Jim Larsen Says:
    August 12th, 2009 at 2:22 pm

    I applaud all your marketing efforts and outreach to the commercial lending community

Leave a Reply