I have been on for a year. No listings yet. Equity pointe said I had to sign up with them. I went the the whole "official process" and am contemplating the renewal which has been lowered. Not sure what that means if they are losing people or not.
Below is the reply I recently received (10/20) from VRM,
Yes, everything is in place and you are an approved vendor. At this time I do not have a definitive time frame for asset assignments. Please stay patient. You will receive an email with instructions as to how to manage the asset when something is assigned to you.
Patient is something I'm becoming very good at it!!
What do you mean you are out? I don't think there is not an annual fee at VRM.
VRM is the Freddie Mac vendor manager. They are supposed to be getting business from other sources soon.
Someone mentioned them 'losing Fannie Mae.' I don't think VRM was ever a Fannie outsourcer.
You probably paid for the REO Certification course. I wouldn't let that expire. It looks great on your resume. I know 400 dollars plus travel is real money, but the street cred is worth it I think. And of course the class is phenominal. Great information.
I have 2 properties with VRM that are in the pre-marketing stage. These properties were originally with another AM company that I've been working with for a while. Then, at the end of last year I got an email saying that FNMA was reassigning the assets to another AM company. After about a week of not having those 2 properties in my inventory I received an email from VRM, a company that I was not signed up with, requesting that I execute the needed documents before I could accept the assets. So, I executed the listings and continued to service the properties. In fact, I actually spoke to one of the AM's with VRM and she mentioned that they have recently seen an increase in volume. She was extremely nice and even sent me a follow up email to convey that she has happy to speak with me and looked forward to working with me. So, I'd hang in there... It's not like there is a fee affiliated with this company.