REOPro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

Just received an email from this group to sign up with them as my foreclosure which is under contract due to settle in 3 weeks is being moved over to them.  Anyone have any experience with this company for REOs?   The foreclosure is with Saxon( direct)  which I have worked with for years.  Anyone heard anything about this?  Thanks! 

Views: 443

Reply to This

Replies to This Discussion

It's my understanding that OCWEN the parrent company of Altisource bought Saxon. I was working for Litton when OCWEN purchased them. I did not have anything under contract at the time so I don't know what will happen to you. We had all our listings pulled. We got 2 back with a 1 percent commission to us.

Hopefully we can get it to close, but have you had future business from them with any other banks that you were not previously affliated ?   (I'm tryig to stay positive)  I had the same thing happen with a property that was with GRP & then went to Single Source.  I got it to close, but it was a real challenge.  The Single Source agent pulled my lockbox & sign.  Then the asset manager only gave me a week to close.  How has it been working for them?   

I received the same email today concerning an asset I have with Saxon that is in the prelisting stage. I am a little concerned because, though the email says no fees to sign up with their site, the actual agreement you have to read and agree to mentions transaction fees charged to your credit card... If anyone else has any info about this company please share.

My listing is under Equator.  There is a transaction fee with that as well.  I think this is standard practice with Saxon.  I have been requested to sign up with Altisource.  I don't have a problem with this, but I would like to know if it will be an advantage to be able to secure listings from banks that  have been locked for so long.  Guess I will have to just wait & see.  Good luck on your pre-list.  Hopefully mine will close before they change the ratified terms of the listing. 

The listing agent fees are very low (i.e., 1%). 

In addition to buying Litton ans Saxon, they recently took down a large pool of Chase assets.

They can be extremely difficult to deal with as everything is outsourced. Your asset manager may claim their name is Bob, but if you ever are lucky enough to catch then on the phone, you will learn that isn't their real name. The competency of their outsourced employees is not good.

The escrow company they use in CA is pathetic. We tack on 30 days to COE...even if its a cash deal.

The worst, they only pay a 1% commission to the listing agent!

I just received an email this week informing me one of my Chase assets is being removed from inventory as of the 29th of this month. As of March 1st, Ocwen will be servicing the asset and I will have the asset up to 30 days from then. Unless Ocwen chooses to keep me on as the Listing Agent. All the while I continue my occ checks twice a week as the tenants go through eviction. 

RSS

© 2019   Created by Jesus (Jesse) Gonzalez.   Powered by

Badges  |  Report an Issue  |  Terms of Service