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I was contacted by Banker REO to sign up for BPO and REO Assignments, for a $345 annual membership fee. I didn't find any posts for this company, so I thought we better get this one out there! I did a WHOIS search for this company's website and it shows that it was created on June 14, 2011, and they are based out of Illinois ... the same state as the infamous Absolute REO! There website address is: www.bankerreo.com Does anyone have any experiences that they would like to share with this one?
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Now here is the contents of the e-mail I received, right after i told the rep to go "fly a kite":
August 20, 2011
Dear Reetesh Sood,
We appreciate your desire to join our agent network. We regret to inform you that we are unable to accept you into our agent network at this time. We are constantly adding services and coverage areas to our network. Should our business needs change in the future, we will contact you. Thank you for taking the time to speak with us regarding your experience and qualifications.
If you feel you have received this email in error, contact us by e-mail at info@BankerREO.com or by phone at (888)-356-9111.
Alexander Narod is a CPA firm listed at the same address that is on the Illinois Corporation Search website. Same address and name also listed for Absolute REO. Guess the funds were drying up and he's at it again.
Forget about calling the hirlings on their MagicJack numbers. The main office number is 847-562-1040. Can't wait to see how receptive this firm is to direct inquiries.
Gave me the pitch about having an asset in my zip code. When I saw the 847 area code being in Illinois, first thing I thought about as ABS REO. Then I Googled them and REO PRO came up and not one positive comment came back. I called the guy back and told him of my experience w/ ABS REO and they were connected, he gave me a song and a dance. I said don't bother calling back. That's the good thing about Google, just about everything's online and you can check them out. I hope noone else falls for this nonsense.
Thanks to you and the other realtors who had the concern to post about http://www.bankerreo.com . Those guys at bankerreo are not legit. I was called by them on Thursday, signed up with a Discover card, and they told me they'd have an assignment in my inbox by Monday...it never came...from zip code 80123. On Monday, there was an assignment, but it was in 80003, and Vince DeAngelo, the guy I talked to, modified my profile on BankerREO.com so that the other zip code was listed as a target area..I never got an 80123 assignment like he SAID I HAD JUST WAITING FOR ME!! Last year, like an idiot, I signed up for Absolute REO Solutions, paid the $350..see how the amounts are similar...$349 for bankerreo....! Nothing ever came from them, either.
You know, when I asked these guys how they got my number, they never told me..when I asked them if they were affiliated with any of these companies: "Res.net; USRES.com; ABSOLUTE REO SOLUTIONS." THEY SAID "NO." That's a blatant LIE, in my books, intent on seperating me from my money..which, as Discover's Fraud Unit just told me, takes up to 90 days to resolve. They say enticing things like: "We pay $75 for Exterior BPO's and $125 for Interior ones." "We will GUARANTEE that you make money from the sale of an REO through us..one that we assign to you, or we will TOTALLY REFUND YOUR MONEY." I kind of bit on that one real hard...but now that worm doesn't taste too good. Discover said there's a good chance this charge won't stick, but for 90 days or so I'm a victim of these scammers, and I, like the two others I've read about here, have no recourse but to dispute the charges with our respective credit card companies, and, if we see fit, to file a complaint with the FTC in Illinois, and the Illinois Secretary of State, too. Many of us agents love the opportunity to qualify for and get REO listings. It's a feather in our hats to have them, and kind of validates our realtor existence. At one time, I had scads of these listings, but now, that is not the case. So when slickster Vince DeAngelo calls me when I've had a particularly bad week, he's "preaching to the choir," when he said "Send me $349 and "We'll all make a lot of Money!" Seems like the only one making money there is http://www.bankerreo.com
DO NOT GIVE THESE PEOPLE THE TIME OF DAY.
Walks like a duck - Quaks like a duck. We are all insulted. Do not be embarassed. Call your credit card company and cncl the charge and file a fraud report. Most reliable asset companies use known reliable platforms. File a complaint with the attorney general and the FTC.