REO Pro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

http://reopro.ning.com/page/buyer-direct

BPO COMPANIES THAT PAY AND SOME THAT DON'T - JULY 2013 REVISED

It seems like there is an epidemic of Servicing Co's and Bpo Co's that are just not paying.

This platform is a good source of information for agents to share their experience with others to avoid

loosing money and time on these companies that wish to  deal in dirty business practices. If you complete an order based on agreed terms & price, there should be NO reason you should not be paid.

The names of a few companies that Pay on time and every month.

1. RRR

2. E Mortgage logic

3. Single Source

4. Specialized- sam

5. Ocwen

The names of some THAT DO NOT PAY !

1. IAS - Integrated Asset Services

2. Bpo.com Broker Price Opinion

3. Trans continental

4. NREIS

5. Main Street Valuations AKA Bpo Fulfillment 

6. Valuation Partner's 

Views: 23424

Reply to This

Replies to This Discussion

Thanks for the warning. I guess I'm in debt with all of you. 

Letter from IAS attorneys arrived today to tell us they won't be paying their agents for past expenses. My team quit taking any work from them a couple of years ago. They took over a year to pay and ended up moving the asset. But, in past years we we're preferred agents for their properties.

Carrington was a slow payer too, so we don't do any of their business either. I don't have time to jump hoops to get repaid for their expenses. It's just wrong.

Take it as an expense for sure.

60 days to pay?  Try 360 so far.  I emailed again in December and a lady called me her name was Rose.  She said my check was being mailed and I'd have it in time for Christmas.  Never got it.  That is the 6th time the call and say it is coming.  I don't know how they sleep at night.  I emailed the Realtor and attorney on the class action lawsuit.  Maybe that will help.

Good Luck Jim on that... been through prior circumstances with "attorneys" in action suites and have yet to get a dime. The fraudulent Vendor Company just files for bankruptcy and opens up under a different name. What is needed is for some kind of "check and balance", and/or Realtor protection from these guys and utmost, that they be held accountable. This will never end as we "chase our tails" in the never ending fraudulent acts within REO. :( We need a representative to secure our case... we all should be writing and calling our Boards and asking for help in this matter. Attorneys come within our dues and are on Staff for our local boards (which we are mandatory to pay dues onto yearly) We should be joining together and contacting our Legal Aides which are already in place by our State Real Estate Boards. Enough attention is brought up regarding this matter by us we might get something done. "squeaky wheel gets the oil".

Hi

I would like to add Mark to Market to your list of no -pays. I received one check after several months for $200.00, but are still owed $300.00 from March.

Good pays add Corelogic, Old Republic 

When I started in REO nobody did a BPO under $100. I received $1000-2000 for successful CFK's & my commission was never less than 2.5 per transaction side. I stopped doing BPO's after the standard became $65! I saw people doing them for $35-50 in the end! My last REO sale commission was 2% -25%. They even started charging me $5 per invoice to pay me back my expenses

   I have almost stopped all REO work altogether! Except for  NRT I have no REO work but am making more $$$! NRT actually eased up making the hold REO weekly check every 14 days instead of 7. They gave me permission to do a 1 per month on this property after I complained and stopped doing them at all! Since I can handle any type of home, debtor, repair & always close on time they decided I was worth it!! Those who are awesome at what we do so we don't need REO's! In fact it's a bad business model compared to retail sales!  The smart companies will try and keep  quality brokers! If your a good broker don't be afraid to throw your weight around. If you loose a service provider so be it! Sell retails! Work with investors & builders!

The service providers will all come around if the good brokers are acting like we are worth it! If they have to deal with the in experience & revolving door of new brokers for a while we will soon be in high demand. Selling houses with no discounts, service referrals, BPO's, CFK's, Repairs, utility management, & fighting with the payment dispatchers over how you uploaded the last electric bill is awesome! Damn.... why would we go back until they get back to the money they paid us before 2009! 

Justin Thayer

Team Thayer Real Estate

I get offers to perform "discount" BPO's every single day. I always respond with my minimum fee, depending upon the company requesting the service... Sometimes I get the order, sometimes I do not.

If someone out there is willing to do BPO's for half price, spar with a company for several days after-the-fact because they don't like your estimate of value, have them try to reduce your fee because they say there is a QC issue, THEN wait for 60 days (or more) to get paid?? PULLEEEZ......

Having performed accurate, on-time BPO's for 27 years now, I am not at this point going to start wasting my very valuable time dealing with those sub-standard BPO companies.  If you pay peanuts, you attract chimpanzees :-)


 

I agree Justin, I think this site is also a great resource not only for us agents to stay on top of things but to keep these companies honest. When they get a bad reputation for non payment or late payment on this discussion board, we stop doing business with them. Then they go out of business. We need to hold these companies accountable and/or stop working with them. 

I saw the same thing happen with my business. No repayment of expenses (or months of fighting), reduced commissions. It's a joke what they expect us to do and for less money. Not anymore. Too many other opportunities out there to waste my time. I remember when a BPO was a few photos and a handful of questions about the subject and the neighborhood. Now they expect a full appraisal, done in 48 hours and for $40. No thanks. I put a minimum on my BPO's, anything less and I decline, then they call and I explain my new fee structure and funny thing, they get it "approved". We need to stop discounting our services. If you're good at your business, then you're worth the money. 

Great post Justin- the companies got greedy when agents needed work and as more agents jumped in to d BPOs and REOs in bulk, prices went down.  As more retail sales come back, those who do not want to do BPOs or REO will leave and it will normalize.

I totally understand Justin... So many newbies come in and quite frankly don't know any better. By taking the fees at the lower scale they hurt us all... not only that, but themselves!  Once they start adding up the costs and "time" it will soon be clear they are running in the red at taking assignments at such a low value! It is sad and quite frankly for those of us who do this on a full time bases, very difficult. I refuse to take assignments at face value, if they want a quality report they contact me and will be charged for my time and expertize. Sadly more VMs now only look for the bottom dollar, which in time their reports will dwindle as the Clients soon look to other Vending Companies who are using experienced Vendors who give them quality report. But the damage i am afraid is already been done. :( Revision request can only "doctor" up a report, but an experience BPO Specialist... the report speaks for itself.

Here are some more BPO firms and some REO firms- if you are a connection on Linked-in- where ever I have a personal contact- I will send it over...

Joey Singh
Ameritax BPO Inc.
Business Development 

Tax and Business Consulting
AmeriTax Inc.
Learn how we can increase your business with our marketing help!
www.TheAmeriTaxWay.com
JSingh@theameritaxway.com
Skype: Ameritax1
1 212 801 2390 Office Ext 888
1 516 881 0126 Direct Operations Floor Line
1 800 689 6028 Fax
1 917 859 4400 Cell
http://www.linkedin.com/in/joeysingh     

Americas Info Mart https://www.aimyourway.com/
ASG Mortgage Services http://www.asgbpo.com/
Asset Management Holdings, LLC http://www.AMHusa.com
Asset Valuation & Marketing, Inc http://www.assetval.com/
Atlas REO https://portal.atlasreo.com/BrokerApplication/
BearStone Properties www.bearstoneproperties.com
BPO Pros http://www.bpopros.com ( basically a sub contractor)
Clear Capital http://www.clearcapital.com/
CoreLogic http://www.sourceoneservices.com/
CoreLogic Appraisal Services http://www.corelogic.com/default.aspx
Corporate Asset Management, LLC http://www.camreo.com/
Corporate Valuation Services Inc http://www.provalu.com/
Data Quick Lending Solutions http://ls.dataquick.com/default.aspx
Default Servicing Technologies, LLC (DispoSolutions) http://www.dst-llc.com/
Dinwiddie Property Services Company, Inc. http://www.dinproserv.com/
ELAM REO Serivces Inc. http://www.elamreo.com/index.htm
eMortgage Logic LLC http://www.emortgagelogic.com/
Epic Real Estate Solutions http://www.epicress.com/
Equi-Trax Asset Solutions http://www.equi-trax.com
Financial Asset Services, Inc. http://www.fasinc.com/
Finiti https://brokerweb.finiti.info/
Fisk Properties Incorporated http://www.fiskproperties.com/
Five Brothers Mortgage Servicing and Securing, Inc http://www.fivebrms.com/
Freddie Mac BPO Direct http://www.bpodirect.com
Goodman Dean Inc. http://www.goodmandean.com/
Home Trust Nation http://hometrustnation.com/registration/vendor.php
iMortgage Services http://www.imortgageservices.com/index.aspx
Infinity Valuation Services http://www.ivsbpo.com/
Innovative Real-Estate Investment Services, LLC/Asset Mgt. Holdings http://www.IrisVal.com
Inside Valuation, LLC http://www.insidevaluation.com/
ISGN (Fiserv Lending Solutions / Golenders.com) http://www.isgn.com
LandSafe, Inc. (B of A Valuation Services) http://www.landsafe.com/
Lender Processing Services http://www.lpsvcs.com
Lighthouse Real Estate Solutions (LRES) http://www.lres.com/
LPS (LSI Division) http://www.lsi-fnis.com/
M2M (Mark-to-Market) http://www.marktomarket.com/
Meridian Asset Services http://www.masreo.com/index.html
MGIC Real Estate Valuations http://www.mgic.com/index.html
Nations Valuation Service, Inc. http://www.nationsvs.com/Home.aspx
NationWide BPOs http://www.nationwidebpos.com/
Nationwide Management Services, Inc. http://www.nationwidemsi.com/default.aspx
Old Republic Default Management Services http://www.oldrepublicdefault.com/Default.aspx
Olympus Asset Management http://www.olympusasset.com/
PCV Murcor Real Estate Services http://www.pcvmurcor.com/
Phoenix Asset Management http://www.assetonemg.com
Platinum Real Estate http://www.platinum-realestate.net/
PMH Financial http://www.pmhfinancial.com/
Premiere Assett Services (Wells Fargo Home Mortgag http://reo.wellsfargo.com/
Pro-Teck Valuation Services https://www.protk.com/public/Default.aspx
BPOFullfillments.com  https://www.mainstreetval.com/Login.aspx?ReturnUrl=/default.aspx
Rels Valuation http://www.evalueit.com/asp/home/index.asp
REM Corporation http://www.remusa.com/
REO America http://www.reoam.com
REO Real Estate http://www.reore.com/
REO World http://www.reoworld.com
Residential Real Estate Review https://www.rrreview.com/default.aspx
Safe Harbor Collateral Solutions http://www.safeharborus.com/default.aspx
Secured Lending Services http://www.irepvm.com/
Security National Servicing http://www.snsc.com/
Sedgwick Management Group, LLC http://www.sedgwickmg.com/
Service Link http://www.servicelinkfnf.com/
Settlement One http://www.settlementone.com/
Single Source Property Solutions http://www.singlesourceproperty.com
Southwest Financial Services, Ltd. https://www.sfsltd.com/www/index.html
StreetLinks Lender Solutions https://www.streetlinks.com/landing/bpo_agent
Transcontinental Valuations https://www.transconvalue.com/Home_Page.php
Trinity Real Estate Solutions, Inc. http://www.trinityonline.com/index.html
Valuation Partners http://www.valuationpartners.com/
Valuation Support Services https://www.vss20.com/Pages/AboutUs.aspx
Valucent Corp http://www.valucent.com/
Vendor Resource Management http://www.vrmco.com/products.aspx

Tags: Acceptor, BPO, Capture, Fastest, Order, REO, Secrets, tricks

RSS

Send Invitations

Image and video hosting by TinyPic

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

Badges  |  Report an Issue  |  Terms of Service