Old Republic Now Requires REO Training $399!

[Mark Vela]

Old Republic is now requiring REO Courses for all brokers/agents in order to continue to receive REO Assignments. I would think if you've already taken FSI, RDCPro, NFSTI, OneWest, Res.net, Equator,  this would be enough? I guess I'll just pay another fee with a smile :)

[Vitaliy Mikshanskiy]

BPO department or REO?

[Mark Vela]

REO

[Richard J. Allen]

Where do you have to get the training? I'm hoping I may already have it for other AMC's.

[Mark Vela]

Here's the link: https://www.reovm.com/ you still have to take the Old Republic Course.

[Jim Godwin, NRBA, RDCPro]

This is the email i got directly from ORDMS:

Looks like we'll all be spending some more money very soon........

Old Republic Default Management Services (ORDMS) is pleased to announce two new partnerships that will enable us to continue to provide excellent client service and maintain high standards of performance within our broker/agent network. REO Vendor Manager (REOVM) will allow ORDMS (and other companies utilizing this service) to better track and manage our relationships with our valued broker/agent partners. REO Training Solutions (RTS) will ensure that our partners fully understand our expectations and those of our clients.


REOVM will provide the following services for ORDMS (as well as other companies utilizing the streamlined services of REO Vendor Manager):
• Manage and maintain copies and track renewal dates for licensing, E & O Insurance, Agent Payee and Broker Payee Data
• Retain copies of all documentation submitted for qualification as an ORDMS agent
• Ensure proper registration and activation in the ORDMS partner network to maximize agent / broker exposure when listings in your area are available
• Provide an easy, streamlined and reliable tool to submit licenses and insurance information
• Help enter agent / broker payee information to ensure and verify reimbursements

RTS: When successfully completed the Accredited REO Agent Program, including the ORDMS specific courses, RTS will provide:
• Accredited REO Agent Certificate - a permanent designation that will satisfy the requirements for multiple REO clients
• Be able to use Accredited REO Agent (A-REO™) letters and logo on all correspondence, resumes and promotional materials
• Be eligible for continued listings from ORDMS (as well as other companies requiring this designation)

To ensure your continued eligibility to receive listings and the ability to take advantage of these opportunities, we request you to fulfill the following requirements within the next thirty (30) days.

• You must register with REO Vendor Manager. Log on to: https://www.reovm.com and follow the registration instructions. Any questions during registration should be directed to a REO Vendor Manager Representative at 1-800-38-1REO (1-800-318-1736); refer to the FAQ section of REO Vendor Manager or email [e-mail].
Registration Costs: $169.95 - Currently Approved ORDMS Agent
(normal charge is $199.95 for new registrants)

This registration fee will satisfy the REOVM registration requirement for any client utilizing
this service.

• You are required to successfully complete the Accredited REO Agent Program, including the ORDMS specific courses to be an Accredited REO agent. If you have already completed the REO Training Solutions Accredited REO Agent Program and you are currently an Accedited (A-REO ™)agent, you need only complete the ORDMS specific lessons. To take the courses, log on to: www.a-reoagent.com/oldrepublicdefault. Should you have questions or technical issues during the course, contact Technical Support at [phone] or email [e-mail] .
Registration Option 1: Cost: $399 - Complete Accredited REO Agent Program
Including ORDMS courses
Registration Option 2: Cost: $149 - Current Accredited REO Agent requiring
ORDMS Specific Lessons Only

Any questions regarding these programs may be directed to the REO Vendor Manager Representative at 1-800-318-1REO (1-800-318-1736).

We look forward to the opportunity to offer these additional support services and to our continued business relationship.

[Miguel Garcia (FSP) (CSP) (CPV)]

Great more training and less listings! I have the Five Star Institute Designation, REO Default Certified Professional, BPO Certified (NABPOP), REO Specialist Designation, Property Preservation Certification and now a new one. Well see, I don't get listings from Old Republic only BPO's so if they give me listings I guess I will have to do it.

[Mark Vela]

Yup, that's the one.

[Nino Koochou]

I work with both Old Republic and REO Vendor Management reovm.com the only thing reovm asked me to upload was the master listing agreement and the confidentiality agreement for Old Republic,

[Miguel Garcia (FSP) (CSP) (CPV)]

Hello Nino,
Have you received assigments from reovm.com?

[Nino Koochou]

No I haven't yet, I submited all the necessary documents that they have to approve, my application was approved as of lasst week,

[Sam Shueh]

Mark,
Have you researched ORDMS see how many homes they have in Austin, TX area? If little or none that answers where to pay more
for the most learned membership.

ORDMS does not seem to be on the leading edge compared to others. I get BPO assignments now and then. Exterior is $30 interior is $40. So you do 12-15 bpo and give back to them for a training you are on the list. So what?

[Mark Vela]

Hi Sam,

They actually send me what they have in both the Austin & San Antonio area. I've received 15 new assignemnts within the last 60 days. They were a little slow last year but have picked up quite a bit in my area. Your right about the bpos, I haven't accepted any bpos from them in over 6 months because of the low fees.