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August 2010 Blog Posts (25)

BPO training

I have to admit, every year when training comes around I cringe, however, every year AFTER, taking the BPO training, REO training and whatever else training I have to take to stay with certain companies, I'm so refreshed and better at what I do! Let's face it, we all need a fresher upper periodically. Especially when we are talking about our businesses. So, suck it up, pay the money and study away!

Added by Cindy Edwards on August 31, 2010 at 6:51pm — 2 Comments

Whos going to the Five Star Conference in Dallas

Hello Everyone

I am so torn about heading to Dallas for this conference. Today is the deadline to sign up to get 100. off soooo ... I do have a friend that lives in Dallas i could stay with but then I would need a rental car... Then I would have all this work here i home that I would have to cover while im away. At the same time I need the classes, designations etc. and not to mention the networking.... Any advice or comments

Added by Nancy Bass on August 31, 2010 at 6:15pm — 2 Comments

Everybody wants on board....Now

Ten years ago, when it was not "cool" to be working REO properties, I did it because it was a challenge and because it was part of my well rounded Real Estate business. I got called everything from "foreclosure queen" to "crazy" for working this buisness as hard as I did. I perfected and streamlined my office/team. Every member on my team became profiecient in foreclosures. Whose laughing now? Well, it is amazing to me that all these agents who have been caught up in this down market are now… Continue

Added by Cindy Edwards on August 30, 2010 at 7:37am — 4 Comments

MLS still sells houses.. so fill it out

While doing some BPO work today for some multi-family houses it still amazes me the number of agents who do not fill out many of the non-required fields in the MLS.

It also was interesting that many of these "slim" MLS listings are REO properties.

Do people not realize that if you fail to fill out fields such as, # of units, number of bedrooms, number of baths, total sq feet, than many people doing searches for properties will NEVER SEE YOU LISTING IN…

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Added by Douglas Ledewitz on August 29, 2010 at 6:03pm — 7 Comments

Mean REO Agents . . . Are You One Of Them?

It never fails that during and at the end of each transaction I have a co-op Agent tell me what a pleasure it was to work with me and my Team. I don’t take these compliments lightly and am grateful for the pleasant relationships I have built with these agents over the years. I also know that by continuing to treat people with kindness and respect, they will want to show my properties and write…

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Added by Kandy Clayton on August 29, 2010 at 5:00pm — 5 Comments

Foreclosure Inquiry

I have many clients looking on-line for foreclosures. I also have a company I subscribed to get the listings of foreclosures. The frustrating part is contacting the bank to see if anyone has been assigned the foreclosure so I can show the property. They always state we need the account number and the SS number of the client. I tell them I am not the listing agent, nor do I want to know about the loan. I only want to show the property. Does anyone experience this? If so, how do you handle this… Continue

Added by Donna Lavin - CDPE, SFR on August 29, 2010 at 2:39pm — 1 Comment

Professionalism and Respect.



We all love and appreciate the testimonials and praise our asset managers give us. Below is one from a former Ocwen supervisor that I respected highly. OCWEN is still one of my best Clients and I still have the upmost respect for the company and all of their employees. I was distressed to see the YouTube Video on our front page portraying OCWEN…

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Added by Barbra Curtiss on August 29, 2010 at 2:23pm — 3 Comments

Can you Asset Manager say this about you?

Not to toot my own horn……………….ok…………….maybe a little but, it’s worth writing about.

I got an email from one of my Asset Manager’s a couple days ago, an Asset Manager I don’t hear much from. Don’t get me wrong, he keeps me busy, I have 6 of his listings but, as far as communication……we just don’t…

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Added by Jesus (Jesse) Gonzalez on August 29, 2010 at 12:49pm — 4 Comments

Freddie Mac Weekly Mortgage Update: Long-Term Mortgage Rates Fall for the Ninth Week Out of Ten



30-year fixed-rate mortgage: Averaged 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.



The 15-year fixed-rate mortgage: Averaged a record low of 3.86 percent with an average 0.6 point, down from last week when it averaged 3.90 percent. A year ago at this time, the 15-year FRM averaged 4.58 percent.



Five-year… Continue

Added by Howard Bell on August 28, 2010 at 4:06pm — No Comments

Mortgage Bankers Weekly Update: Mortgage Refinance Applications Continue to Increase

Mortgage Bankers Association for the week of 08/25/2010


Market Composite Index: (loan application volume) increased 4.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 4.5 percent compared with the previous week.



Refinance Index: increased 5.7 percent from the previous week and is at its highest level since May 1, 2009. The seasonally adjusted Purchase Index…
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Added by Howard Bell on August 28, 2010 at 4:05pm — No Comments

REO Market Predictions and Observations

I woke up this morning and started looking over all of my favorite business news websites and I saw that the headlines for today was something like…..,

“Economic Growth at a Standstill, Revised Government reports 2nd Quarter Growth Down Sharply”…

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Added by Jesus (Jesse) Gonzalez on August 27, 2010 at 8:42am — 3 Comments

The Stock Market Looks At Real Estate



Well, we all have heard the bad news, housing sales down again, hugely - 23% in the quarter. NAR reports that sales are at their lowest since the sales series launched in 1999, and single family sales are at the lowest level since May of 1995. And it doesnt look much better in the near term either. Pending sales, a forward indicator of market activity, dropped 30% based on contracts signed on May and is almost 16% the May 09 numbers.



These reports are always about today. The… Continue

Added by Howard Bell on August 25, 2010 at 7:39pm — No Comments

More Housing Assistance Programs

By now everyone knows about the Making Home Affordable Program. What's new is that since August 1, participating lenders are now required to include the unemployed and their unemployment benefits to make homeowners eligible for assistance.



This includes making no payments or minimal payments while they look for work. When the homeowner finds employment, the participating lender will evaluate the homeowner for a permanent modification that is based on… Continue

Added by Jan Baron, RDCPro, CSP, BPOR on August 22, 2010 at 7:55pm — No Comments

FHA Short Refinance Program

Effective September 7, 2010 homeowners who qualify can apply for an FHA Short Refinance. Here are some of the requirements.



1. Home must be worth less than the current mortgage

2. Current mortgage must be Non-FHA

3. Homeowner must be current on their mortgage

4. Homeowner must have a credit score of 500+

5. Property must be primary residence

6. This program is voluntary and must be agreed upon by All lien holders

7. First lien holder must agreed to write off at… Continue

Added by Jan Baron, RDCPro, CSP, BPOR on August 21, 2010 at 7:10pm — 1 Comment

BANK OF AMERICA WEBINAR- 10 TIPS TO A SUCCESFUL SHORT SALE

Bank of America has assumed a leading role in processing Short Sales. It is well known in the real estate industry that BofA was the first bank to start tracking Short Sales on-line in the Equator platform, making the transaction more transparent and shortening the time it takes to process.

This morning, BofA held their third webinar related to Short Sales. The title of today's webinar was 10 Tips to a Successful Short Sale. Here's are the ten tips offered by…

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Added by Rudy Romo on August 18, 2010 at 2:11pm — 3 Comments

Evaluation Solutions and getting paid????

I am wondering if anyone else is having trouble being paid by this company. I have been calling and emailing almost daily without any response. It has been 90 days and no repsonse from anyone. The phone number listed is for extensions of the people who hand out BPO's. I am so frustrated! Does anyone have any suggestions of how I can get my money?
Birgit Anglin Windermere Exclusive properties isellhomes@aol.com

Added by Birgit Anglin on August 16, 2010 at 1:15pm — 12 Comments

Mortgage Bankers Weekly Update: Essentially Unchanged Despite Lowest Rates

Mortgage Bankers Association for the week of 08/11/2010



Market Composite Index: (loan application volume) increased 0.6 percent on a seaso

nally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.4 percent compared with the previous week.



Refinance Index: increased 0.6 percent from… Continue

Added by Howard Bell on August 14, 2010 at 4:15pm — No Comments

Freddie Mac Weekly Mortgage Update: Mortgage Rates Fall Again

30-year fixed-rate mortgage: Averaged 4.44 percent with an average 0.7 point for the week ending August 12, 2010, down from last week when it averaged 4.49 percent. Last year at this time, the 30-year FRM averaged 5.29 percent.



The 15-year fixed-rate mortgage: Averaged a record low of 3.92 percent with an average 0.6 point, down from last week when it averaged 3.95 percent. A year ago at this time, the… Continue

Added by Howard Bell on August 14, 2010 at 4:14pm — No Comments

The Rental Sector Is Looking Up



June vacancy rates in the largest 64 markets in the country averaged 6.6%, down from 8.2% at the end of 2009, according to MPF Research. We certainly see the increase in rental demand in 2010, and it's been a little more, frankly, than most apartment experts had anticipated," said Mark Obrinsky, chief economist for the National Multi Housing Council.



This may be the brightest sector and only strong story in a dismal market. There is a real… Continue

Added by Howard Bell on August 11, 2010 at 7:53pm — No Comments

Using the "Compound Efect" to Change and Improve Your Life.

This blog post isn't directly related to the REO business, but it is related to better business and life practices to increase your productivity and inhance your business and life - which is related to the REO business.

I am a hugh fan of Darren Hardy, publisher of Success Magazine and…

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Added by Nick Miller on August 6, 2010 at 10:27am — No Comments

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