They have extremely low sponsor skin in the game, very high fees, and they have significantly less experience than some of the top-tier sponsors.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

The broker gets paid the same no matter your rate or how long it takes to close, no skin off of their backs.

I know I would need to have skin in the game.

Then once he’s made a little money he can fully branch out on his own or the two of you could partner, both with skin in the game.  

The first bank turned me down after the loan committee decided they wanted me to have more skin in the game.

I suppose some of us are as little more thin skinned than others.

Now, I don't like irritating my conservative friends, but you can't stick your heads in the sand on this for long.

Investors who use their contracts, perhaps their notes may well have liability in doing a seller financed transaction, it's not just the skin of the note holder at risk if you introduced and presented the deal convincing the seller to act illegally.

I'd like to see it dip down again and I will put some skin in the game.