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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
Equi-Trax are good to pay. I've completed BPO's for them and have paid. They actually send you email notifications on the status of the report approved etc and if its been billed. call and ask for updates and how you get email notifications and their billing cycle.
I do BPO's for Equi-trax. They are not the best paying company but they will negotiate and they do pay regularly and fairly quickly.
I have completed numerous work for equitrax and have always been paid within 30-45 days. :) I would recommend them as being a one of the "pays".
Sadly, one of my favorites no longer pays. IAS
There was a story in Denver Post about IAS this week: http://www.denverpost.com/business/ci_23652481/denvers-integrated-a...
Thanks for sharing that article .... Embarrassingly, I admit to being owed quite a bit from IAS. No one there will respond to my emails and phone calls.
A few IMPORTANT POINTS for YOU!!!
1.- Broker Price Opinion: per a representative: BrokerPriceOpinion.com and First Valuation have merged together. They are currently between 60-90 days for payment. After they receive the order from the agent, they review it and then send it to the client, after the client approves it, he or she has 4 weeks to send BrokerPriceOpinion.com and First Valuation the fee and then they process it in their system before mailing the check to the agent.
2.- Trans Continental: They've always paid me in 30 days
3.- NREIS: is no longer in business. Also their sister company Secured Lending Services
4.- Main Street: I've completed only 1 and have paid me in 30 days
5.- Valuation Partner's: Never completed an assignment
6.- IAS: Am a new vendor for them, I'll keep an eye out.
Pedro, Drop Broker Price Opinion.com and IAS like hot potatoes before you get burnt. There are numerous open discussions on this site about both. I settled with BPO.com/First Valuation in Nov, writing off over $600 in what they owed me while they agreed to a 60 day turnaround on payments from then on. I'm currently waiting on over $2000 from them for BPOs completed Nov 2012 - March 2013. I have been run in circles more times than I can count with 1 definite check issue date already passing. After my last post on here, I received a call stating one would be cut the week of 7/26/13. I'm not holding my breath but I'll let you know if they finally send my money. It took me 2 years to get over $3000 that IAS owed me. They currently owe me about $500 for almost a year now.
Thanks for the heads up!!! I only have 1 BPO that I completed for BPO.COM just a few days ago and will not complete more for the. Also IAS. Thanks guys!!!