Submitted on Monday 20th April 2009
NACFB protects brokers reputation
The National Association of Commercial Finance Brokers is setting up a committee to investigate any reports of fraudulent activity within the commercial sector, after a number of complaints about brokers
The NACFB as it is known was set up fiofteen years ago to combat advanced fee fraud
Some lenders and brokers have recently been charging very large fees in advance with little hope of the case progressing according to allocations and clearly in doing so threaten the reputation of all brokers
As a member of the NACFB Stirling Partners is very wary of any lender or broker charging large upfront due diligence costs although it feels that a smaller commitment fee is often justified where the case is quite esoteric.
