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The new altisource platform does not pay weekly basis unlike before the old one.
I never had any payment problem with the new site. I got paid multiple times per week.
The question is about order volume.
I have probably had only 20 emailed BPOs in the last year from them. I get the occasional call, but they won't increase fees and since I changed Brokers I can't log on anyway, trying to get them to correct this is more difficult then herding cats..I do sell REOs for them once in awhile.
I used to do a high volume of work for them, but the rumor is they are having some big legal issues.
legal issues yes. Their site is probably a violation of the Sherman Antitrust act and they have been sued before and also they use their own in house brokers.
Same for me. I used to have about 30-40 orders sent through the system a week and now I haven't received a single BPO since around July. Tried calling a few contacts at Ocwen/Alitsource who typically assign me orders directly, but they said they don't know anything. Mostly direct emails in rural areas.
you and most of us. Something is going on. I did this for years with them, then all of a sudden on preventative use. which means do not use. no explanation.
Yes. The orders that they are sending me aren't even in my service areas.
I'm getting slammed with BPO request here in Georgia, could be making a fortune from Altisource if I was able to cover the whole state!
be careful. They will slam you and then when you have too many orders and don't meet their requirements they can cut you off. This scenario has happened to me time and time again.
I worked with Altisource / Ocwen for over 10 years. This year I wasn't getting any work from them at all. I called and I was told that I was on the Do Not Use list. I was taken back by that answer and asked the rep why, I was told there were no notes attached to my account only that I was DNU. I then asked how I could challenge the DNU? Answer you cant.
I investigated this with other agents in my state and they all got the boot as well. Altisource/Ocwen also changed the State Broker (Massachusetts) not sure why. Altisource is still somewhat strong on HUBZU but most of the homes are really trash and the investors just pass them up. I was watching an auction and the minimum reserve was not met. They relisted the property a few days later and the minimum bid was $20,000 higher than the former listing. I kind of shook my head on that one.
REO and BPO won't be going away, but they are not going to be at the volume we were once used to.
I think I ended up on that list but they still call on rare occasion. I get their overpriced Hubzu listings knowing that they will simply put it in a bulk sale eventually. I have been forwarding showing feedback to the asset managers. One of them actually thanked me and tried to use them to get the investor to reduce the price to no avail.
My REO listings have been extremely steady so I'm not missing the BPO income just yet. It's pretty relaxing actually to not be running all over the place under deadlines!
Which company are you getting your reo business from?