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I didn't know if anyone had posted this yet.  I received the following message a few weeks ago. Feel free to comment with any Summit Valuations experiences.

Thanks,
Michael Collins, SFR
Short Sale & Foreclosure Resource

 

 

June 20, 2011

 

Reference: Late BPO Payments

 

Good afternoon,

 

I understand your frustrations and concerns about late payments due to you for BPO’s completed on behalf of Summit.  We are behind and working hard to eliminate the back log.  As you know the credit market dried up so we lost our float from the bank and we have a large client that owes us a significant amount of money from six months ago.   We have made the necessary adjustments to move toward the path of catching up including me not taking a check since December.  We are currently in December payments and hope to be moving into January shortly.  To be fair to everyone we are paying from oldest and moving forward. What we are able to do and will is upgrade your DispoSolutions account status thanks to the cooperation of Default Servicing Technology.

 

I appreciate your patience and look forward to getting you check out as soon as possible.   If you have any questions please feel free to call.

 

 

Jim Clark

CEO

 

Summit Valuations, LLC

630 Vernon Avenue, Suite B

Glencoe, IL 60022

Office:  847-242-9955

Direct:  847-716-5414

Cell:  847-826-4463

 

 



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Ouch, not good. I've done a few BPO's from Summit a few years ago and they were great. I know NDS left Disposolutions a few months ago to Equator and Summit runs Dispo. To me I'd take this BPO as a wash and receive the "upgrade" or whatever that means.

If Summit runs Dispo, then I wonder if all Dispo companies will be late on payments...

I did get the 'upgrade' a few days later for what it's worth.

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