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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.
2. E Mortgage logic
3. Single Source
4. Specialized- sam
The names of some THAT DO NOT PAY !
1. IAS - Integrated Asset Services
2. Bpo.com Broker Price Opinion
3. Trans continental
5. Main Street Valuations AKA Bpo Fulfillment
6. Valuation Partner's
I recently started working with them. They apparently switched to the same platform as Mainstreet, using BPO Fulfillment. The emails from the website, goes to Mainstreet UTAH. Tey have a recruiter that used to work with LSI/black Knight, working from PA. The QC number goes to Utah, it may actually be Mainstreet support, but they are not related. If you have questions about reports or assignments, there 801 number sends you to an unattended number. If you dial by directory, no one will call you back. They only respond to Vendor Issues via email, and it is a three day turnaround at times. They have a call center , in Puerto Rico, that calls to update reports , using a 951 area code..... I will see how long it takes to get paid, but it has all of the workings of a company that will stiff people out of money,like an eval solutions or IASREO no one is accountable.
Generally, when a company uses a 3rd party multi-company BPO website other than their own, they pay. Otherwise, you have another party to complain to. Seems to me that I have done SolutionStar BPOs on BPOFulfillment with no payment problems.
Valuation Partners always pay, never had a problem with them, VALUATION VISION are the ones that do not pay. I never understand why agents keep doing work for VALUATION VISION, they never pay except recently after a year or so they send some outstanding payments as a teaser for your doing more work, then they resort to not paying again.
OLD REPUBLIC pays on time, but they are cheap. Offering increased orders if you are willing to accept $35 or less, emphasis on less and they typically want the report in one day ($45 for interior or less) A speed camera ticket is $45, a real cop ticket is more plus court time, driving in the city you are bound to pick a nail within 30days, it takes 1hr drive time average to get to and from a property, you might run into some unsavory people at your destination, real bullets, mace or whatever cost money, gasoline and car repairs, auto insurance and licensing and sundries, the list goes on, ,then you go home and research the report and complete 1hr average, then you get a QC gently persuading you to use certain comps. They are generally all wrong and outdated so, it's another 1hr spending time to review, yes there are agents who are doing them. I know there is a reluctance to give the fatted calf, but seriously tell me how they do it and survive? just the report alone you are looking at 3hours (drive time, research & complete, then the follow up QC)
Damn well said Wain
Just to let you know-I have been doing work for Mainstreet and Valuation partners, while it's true they are the slower payers, they do pay. I stopped working for them both as they only pay $35-$40, but every once in a while,main st will get in a jam, and ask me to do 3 or 4 in the same area-for $90 each. My experience is that they do pay. Doesn't sam ask for money to sign up? I paid them, never got 1 file.
I also do for MainStreet and Valuation Partners. I have never had a problem with payment from either.
Mainstreet states their payment policy very clearly on their FAQ section. Yes sometimes when you get a payment you think I did that one ages ago, but if you go back to when it passed QC then the below statement is accurate.
Payments are issued on the 1st and 15th of each calendar month. If either of these dates land on a weekend or holiday they will processed on the following business day. Payments are issued to the Company and Address listed on your W-9 that you filled out as a part of your Vendor profile.
Each order is process for payment 45 to 60 days after the order has been completed"
Just to add two more that do pay every month Proteck and Clear Capital
Mega vendor sending out using Mainstreet, CA, Lighthouse, and Valuation Vision - take at your own Risk since these are ALL rurals
Hint- the company is out of Pittsburgh....
Mega vendor sending out orders from Goldman Sachs Portfolio - VP is initials....
Goodman Dean is great!
Bpo Fulfillment pays do 20-30 per month they pay in 30 days