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I too do not do anymore for Core Logic. ICLEAR bills for both BMO Harris bank and Citi financial. Citi financial does not charge a fee, however, BMO Harris bank charges a small fee about 1.67 per transaction. LPS charges $5 per invoice, depending on who your client is. I have about 8 vendors that use LPS billing.
I have several that use LPS also. Core Logic is one of the outsourcers for Bank of America and some other lenders also. For a period of time they were doing all their re-imbursements through I-clear and it was always a mess getting re-imbursed. Core Logic has lost several of their accounts (including most of BOA) and announced that not only are they getting out of the REO business, but they also have the rest of their business up for sale. I have worked with them for years on both BPO's and REO's and although some of the orders are coming in with a low fee, the ones I have had recently have all been over $50 for in town and $60 for rural. Anytime I think the fee isn't high enough I contact them and tell them I can't do it for the fee offered and they have always raised it. And I have always been paid like clockwork. I am down to only getting about 1 a week from them, so it has definitely slowed with them.
I recently renewed my BPO vendor contract and when they mentioned they were now paying 45 days, I thought to myself I would be cheated on the BID PROCESS. The process was designed to provide quicker payments to the agent when they agreed to take a little less. Therefore, I'm thinking I would be paying them to pay me later...Right? So, after signing that agreement I immediately went in a removed all discounts I would give them for orders. Then I got a couple of orders within a couple days, go figure?
I have not participated in their bid process and have no intention of doing so. I will be glad to negotiate my fee up, but I'm not going to cut it when expenses are going up.
People man your battle stations Ocwen and RR Review are both on Fire today through 3/28/14 - Friday
ATX BPO Inc.
1 212 801 2390 Office Ext 888
1 516 881 0126 Direct Operations Floor Line
1 800 689 6028 Fax
1 917 859 4400 Cell
How do I sign up with Ocwen?
go onto real trans. you can call the bpo department and ask to get signed up. Lately though their payments have been spotty.
If you want to sign up for BPO's go to https://as.realtrans.com/webtop/default.html. They distribute all BPO's from there. Ocwen runs most of their REO's through HUBZU.
I've seen several REO's just sitting empty and vandilized that have the Altisource/Ocwen posting on the windows. That tells me that they do not care about their assets and probably won't care much about paying the BPO agents either. Just saying....
Actually they are one of the best payers. Their form is easy, they seldom call for changes and will negotiate fees. They usually pay within one week of acceptance of the report and always pay by direct deposit. I have worked for them for several years and yes it is true they don't maintain their properties real well and only pay a listing agent 1%. You have to do very little with the properties, do the BPO and put them on MLS. All offers are placed on line by the selling agent. No matter the BPO fee they pay, they always deduct $1.00. They have recently started working their properties as auction properties through Hubzu. No work involved in the REO's, but not much pay either.
I get some listings from OCWEN, however they have their own in house broker out of Florida and they will give listings to me in areas where that broker is not able to sell it. Personally I think it is an antitrust violation. I normally get very rural listings, in some cases not bad, however, the commissions are awful, about 1%.
I like working with them even though they don't maintain the properties. The pay isn't much but since the work isn't much either, it's pretty easy pay. They have started using the Florida broker here too. They have been using HUBZU for over a year around here. I haven't had a listing from them since mid year last year. I was getting all of them but they had several properties for a while and another agent managed to start getting some of them, until the Florida broker took over.