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Good morning,

I was once an approved BPO agent for Secured lending who had all of HSBC bpo's.  Since they have gone away bpo's have been pieced away to different companies.

My question is does anyone have a contact at Altisource so us HSBC agent's may continue Bpo's and or REO's.

Please PM me the contact.

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Nope. There is nothing but a vendor coordinator contact. Ya just gotta sign up and wait. I get calls and email from India every day with BPO orders. Ive been working with Altisource and Ocwen since 2004. Got my first HSBC CMA last week. The listings are almost dried up. The statewide real estate spinoff gets most of them. The listings that come our way get auctioned on Hubzu.

it will do you no good to call Altisource....

they are not doing or giving BPOS, they have farmed that business out to vendors

 

I get BPOs directly from Altisource almost every day.

Hmm, me too, I see 3-4 BPOs a day from Altisource.

I'm just wondering why you might want to do business with Altisource, at all??? Do they pay list agents 1% in your area like they do in ours? P.S. I don't have any info to answer the question you posted. But, I'm always interested to see if certain vendors vary on rules in different areas. 

I get relatively high BPO fees when Altisource calls or emails me requesting my fee and turn time.  The forms are extremely easy.  They pay within about 2 weeks and an extra few hundred dollars a week automatically deposited into my account makes me happy.  

As for the 1% for listings, I chalk it up as a decent fee for putting it in the MLS.  They don't really expect you to do any work for that and I don't.

I quit doing BPOs for them over a year ago they were a nightmare and you will never get any listings they have a small group of agents nationwide that get the listing. They auction their properties through Hudzu. 

Single Source Properties and ServiceLink has the bulk of HSBC work..

You can sign up for BPO/CMA's with Altisource, but you can forget about getting any listings with them.  They have an internal agent that they list properties thru.  So, now Altisource is actually the listing agent.  They most likely obtained licenses in all states.  This saves them from having to pay a listing and selling commission.  If you are in an area lucky enough to still get listings they pay 1% to the listing agent and 3% to the buyers agent. 

Altisource does not have internal agents per se. They spun off their real estate brokerage division in about 2009. It is now called RealHome Select something - RHSS. They are licensed and belong to local MLSs. They usually have 1 state office. They sell most if not all of their listings on HUBZU auctions just like the few they list directly with agents.

You just need to register with altisource. They do require quite a few documents. I really do miss Secured Lending 2....

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