I have heard of them,,,, but do not know of a anyone who has got a transaction from them yet. They seem to be following the HAFA Program pretty closely but you can download everything about that program on line. I have seen the implied promise of short sale listing from many companies but I have not see anything develop out of them as of yet.
My partner and I signed up over a year ago and took the training. It just trains you on their software. We then got an email saying that because the program was taking so long to roll out, they would refund our money. I had to chase it down, but they did refund it. That has been some months ago.
Caution: No Bank or outsource can promise a short sale listing. Remember, the homeowner still owns the house. The bank CANNOT tell them who to list with. All these companies are doing is putting you on a list (you purchase your zip codes) as a referral source for homeowners to go to. My broker signed up and is paying the monthly fees. She did agree that the training and materials were good, but does not expect any deals from it. You need to farm the NOD 's yourselves.
Hi there Michelle! I have to disagree with you. We have a guaranteed listings program where we guarantee agents will get listings from us. Of course, EVERYTHING is up to the homeowner, but we've found our good agents list 75%-85% of what we send them. Of course, we don't rely on the lenders for any of our business for the most part, so its a little different in our case.
I've talked to many lender department heads, and you are right, they will NEVER do direct "assignments" for the reasons you mentioned. Too much liability and they don't own the asset. However, they can give the borrower a list of a few good agents and suggest them. That's what most will be willing to do.
I have yet to find one person who has received any listings from Partnerfirst. There are countless companies out there making their entire income off duping agents out of membership fees.
I'm signed up with partnerfirst. and have done BPOs for servicelink.
Michele is right - they cannot force the agent to list. They send a letter to homeowner with a list of agents that they recommend and it's up to the homeowner to choose from them or not.
This is going to be an ongoing trend with all servicers and banks.
Nationstar is doing it with their approved REO brokers - many other will follow suit.
The idea is that you are trained in short sales and can save their loss mitigation department time since you know the process since you took the training - something like that..
but michele is correct - homeowner does not have to go with anyone they recommed on their letter.
I search long and hard, and have yet to find ONE agent who has ever received ANYTHING from them!!! Be cautious! And Michelle, while the banks can't demand a seller list with anybody in a short sale, they can certainly suggest a few qualified agents and let the seller pick one they like. That's what we are starting to do as well, but thus far we generate most of our own business (sellers contact US). We are independent of any lender or servicer. We do also have a Guaranteed Listing Program, so while we can't insist a borrower list with a specific agent, our good ones will list 75%-80% of what we send them!
I registered with Partner First, but have not paid or signed up for the Certification or monthly fee. Before doing so, I decided to call 5+ agents just outside of my coverage zip codes. No one that I spoke to had received any leads, or listings from it. They have received only training.
Good thing i read these comments even thought its been sinse last year. Well i signed up but havent paid the membership fee yet but keep getting there emails that there new short sale training is good and there testemonials. They have a new approve cit mortgage bank program and they say they will give leads....But still am cautious. I just notice they have more flexible payments now. A small fee of $79 per month for 12 months and then $45 after the 12 months. But if no one has recieved any leads then whats the point...I heard the training is good but then CDPE is good also...What you guys think.