Has anyone worked with Specialized Asset Management? I received an order through RES.NET for a BPO and I think it is a company that assigns REO's, not just a mill. However, I can't find their website or much info about their company.
I looked into this company and did not find anything. I did, however, come across Specialized Loan Servicing LLC out of Littleton, CO. I called them and found out that SAM is a division of SLS. SAM's phone number is 866-625-8133. I also found on LinkedIn, a gentleman by the name of Rudy Krupka, VP of REO Management whose profile talked about SAM. Here's his link: http://www.linkedin.com/pub/rudy-krupka/a/31b/3b3
Good luck ... hope this helps! I called the 866 number and left my name and number for them to call back.
We did 6 BPOs for them through res.net and then on Tuesday we got our 1st REO from them. So far so go and everything seems to be just like everyone else. So do the BPO and do a good job, then hopefully it will turn into some listings from them.
I have done 3 BPO's for this company, 2 have closed, and I have not been paid, so I am not sure how legit they are in that repect. I know they assign listings. I did 2 of the BPO's in May and one in July.
SAM REO is great. It is one of the few companies I have managed a transition from BPOs to REO listings. I was referred to the REO folks and got a great listing that was pulled from the current agent. They agreed with my valuation, about $100k under the previous list price, and I managed to get multiple offers and a sale at 98% of list price. The sale price was over 2x the average price in our market --Sweet. I look forward to working with them again, but they report "limited number" of REOs in my area.
They do require you to subscribe to RealtyTrac.com but that is a minor item. I have enjoyed subscriber use of the site, but only to a limited level.
I have been doing BPO's for them for almost a year. I love them! Hopefully something will turn into a listing, but the properties I have done have not gone through the foreclosure process yet. I think I have done about 40 for them and have been paid for every one. The valuations analysts are always helpful and apprciative of what I do.