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IAS is assigning REO from Bank of America. The volume of listings you may receive depends of course of your area competition and number of foreclosures.
I just received a new listing 2 weeks ago, the first in a long time and so did my colleagues.
Do you do BPO for them and if so are you having problems getting paid?
If you follow a blog on this website "IAS payment issues" you will find lots of helpful information.
Regarding the BPOs, I have not done any in a very long time. They changed Valuation Managers and she just has not assigned any BPOs to me...it's a great thing...lets see how long it lasts...
You are luck.....
I would call the CEO Paul E. Sveen. Leave a message with your concerns. He eventually returned my call and I finally got paid.
Hi Jo Anne
do you have the contact number for Paul?
Has anyone listed for single source and never got paid for their expenses. I just closed a property last week. Within the same week they declined my utilites, winterization, and rekey. Nothing like doing bpos for 6 years for a listing and finally get a listing to just get screwed on. I cleared $600 and will eat $300 in expenses. Leaving me with $300.
Yes got screwed on re key follow up follow up .
I have done only a few BPOs for Old Republic and IMortage and I whisk they would send me more. They pay great!!! Has anyone worked with Main Street Evaluation?
Main Street pays every 90 days, they have BPOs almost every day so you can pick up a substantial number of orders every month. Make sure you read their guidelines carefully, if you do not have a good visual of the subject or the subject is in a gated community you cannot proceed, need to notify them and you will be paid a trip fee of $15.00. Properties over $500,000 in value need to be completed as interior only. Properties over $1,000,000 need to be reassigned to be completed by a licensed appraiser.
WOW! Great info. I am in Northern Colorado, in your experience, is doing BPO's the best way to get a REO's? I know Main Street do not magage REO's, I am waisting my time?
Most BPO companies like Main Street are just that, companies that offer valuation products for the Lenders. No REO listings will ever be generated from our hard work completing their BPOs, just a little bread and butter.
For REO listings you need to sign up with asset management companies, those who will allow you to sign up since many of them are not currently accepting new applications.