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Greetings Everyone!


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:  Does anyone have any experiences that they would like to share with this one?


Thank you!

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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 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.

The person that was calling me was Mark Carnegie...his number is  847-454-7885. These guys just don't know when to quit. He called me at least 5 times. As I posted earlier...I received the same "We are unable to accept you..." e-mail and Mark even called me after that and tried again and said that the letter was a mistake. I wonder how many agents that are trying to get into the REO biz are falling for this?
Hello Victor, that was my 1st question to the BankerREO rep, that had called me. Also keep in mind everything they say is a fabricated LIE!!!. The company is filled with deceitful reps from the streets with no education or dignity.  



Thanks to you and the other realtors who had the concern to post about    .  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 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 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:  ";; 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 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   



Thats the same guy who called me and I fell for it too! Its too bad how these companies take advantage of hard working agents trying to better their business. Im embarassed and insulted that someone fooled me!!

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.

Actually you should be embarassed that you fell for it twice. Especially after all these post about ABSREO and how they scammed a lot of agents. Just remember how eager you were to sign up and give away your hard earned money for a promise of work and take that same eagerness and call your credit card company and put a stop to this. Also do the recommended actions and file a complaint with the FTC in Illinois, and the Illinois Secretary of State. If you do not take these actions then you truly will be a victim.
If you have not yet pass the three day period with these people...send them an e-mail, letting them know that as a customer, you have your right to cancel and that you will be contact the attorney general to report them and that you do understand that they have pulled this scam on other people.  In addition, tell them that if they don't refund your money, you wil be blogging about them which will hurt their potential business.  Tell them that you might even report them to the media and BBB.  I guarantee you will have your money back in less than 90-days!
Here's a good one for you, my colleages...
I went onto their website to send an email to them, and this is the message I saw above the usual Thank you for your request message.

Message body empty SMTP -> ERROR: MAIL not accepted from server: 553 Sorry, over your daily relay limit.
The following From address failed:

Think they know we're onto them already?
Thanks guys!  I just got a call and was about to sign up.  I want more REO business and this is just too bad that there are "scammers" out there.


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