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I have a few listings from Ocwen (Altisource) that are being transferred to Shellpoint Mortgage Servicing. Has any one dealt with this scenario??  In the Hilton Head Island area.

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That's a new one on me. Never heard of them.  Unfortunately, their consumer reviews read like Ocwen's.  Do you get to keep the listings?  Keep us posted.

Are the properties owned by Ocwen or another lender?  Wells Fargo always had different requirements. With all of the problems Altisource has had, sounds like they lost the servicing rights. 

Basically Ocwen servicing for BOA, my CMA was $325,000 and was over priced & listed for $425,000. Sat for (6) months and now its transferred(see attached).  Lately I have been turning down ridiculously "over priced" REO's from numerous asset companies, its a waste of effort/time.  If you have 15 showings and NO offers, then its the Price.  SPS gave us one that had 15 showings and 11 Offers resulting in a crazy bidding war for Chase(+).  Go figure..

Attachments:

having the same problems, several clients who tell me they overlist their properties on purpose. a total waste of my time.

There is now a $150 technology fee for both listing and selling side on Dispo.  Not going over well with either myself or the selling agents.

this is for using the platform and billing sites?

George contact me  highdesertagent@yahoo.com

yes Aaltisource is changing over to shell point

they are a pleasure working with them and most you will work thru equator

This happen to me as well, the asset manager sent me an email and a letter about the transfer The problem was there are contracts on the properties and I am no longer the listing agent

that is just great. Shell point is probably another secondary loan servicer.

Usually when the assets are reassigned to another servicer and a property is under contract the property remains with the existing servicer.  In the past I have had several assets reassigned to another servicer and kept the property that was under contract.  If the property that is under contract falls out of escrow it is then given to the new servicer.  You are given a deadline date (usually the settlement date) to sell the property.  I understand that each servicer/investor is different.  This is not good. 

Geroge,

I had 2 properties with Ocwen last spring. The lost the servicing  to Dakota. Dakota uses the ResNet platform . Both assets were less than a week from closing. Dakota insisted I use the LPS desktop for invoicing even though I had not invoices on either property. (I happened to be active on LPS desk top for Chase a long time ago) The cost for LPS desk top for new users is if I recall 75.00 initial fee plus 45.00 for a back ground check and 5.00 per invoice. Then Dakota said I had to be on ResNet at a cost of 799.00 per year to get my commission check from them on these two fully cleared to close/ approved and ready to close sales with scheduled closings of less than 1 week away. They told me they could not pay commission checks out until I had the ResNet account. The commissions were totaling well over 5000.00. I had worked on one listing for well over a year with Ocwen including CFKs and all else. I had no choice if I wanted to be paid. I considered this very unethical since the listing agreement was in place when the contracts were written.

I don't know if they are doing the same thing now but wanted to give you a heads up with my experience. I really wish you good luck with your listings. 

The first mistake was working for Altisource

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