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Rick Fine's Blog (11)

Urgent Contact Needed For VP Loss Mitigation Contact At AHMSI

I have an urgent need for a key contact in Loss Mitigation at American Home Mortgage Servicing Inc.

The internal contacts I have are literally the most incompetent people I have ever encountered in a financial institution or loan servicing company.

They demand paperwork, it is provided, then they demand the same paperwork after acknowledging the receipt of the previously requested paperwork

Then they just scheduled the trustees sale date of our home because the requested…

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Added by Rick Fine on September 30, 2011 at 3:41pm — 1 Comment

OCWEN Shortsale- Need Insight Into Best Practices For Successful Transaction

Just took a listing from a client who purchased a property from me back at the height of the market in late 2005. Needless to say, they are at 35% VTL (Value to loan!) and have finally grown tired of making $2400 payments on a home now worth $125000 in a neighborhood where their neighbors are making $1000 payments.

The lender is OCWEN and until now, I've not had the pleasure of working with them on anything but REO listings.

If anyone on REOPRO has some guidelines, website…

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Added by Rick Fine on August 31, 2011 at 1:46pm — 5 Comments

Bridge Asset Servicing Network Conference- Final Wrap Up

This conference was one of those rare events that was of real value to me for a number of reasons; not the least of which was the conference being held by a relatively new company interested in assigning default properties to agents.

There were very important distinctions made by Bridge that truly set them apart from other asset management companies during the conference. To me, they really do define the company and its leadership as an excellent example of the Next Generation Of Default… Continue

Added by Rick Fine on June 12, 2010 at 9:35pm — 4 Comments

Bridge ASN Conference Update DAY ONE

The conference's first full day of training, events and networking finished a few hours ago.

It appears that most who are attending are pleased with their decision to attend.

Prior to the event, many REOPro members expressed concern over the expense required to attend as well as the sign up and monthly fee.

Many of us have spent vast sums of money pursuing the 'possibility' of receiving assignments from asset companies AND lenders/loan servicer's. Usually, the end result was/is… Continue

Added by Rick Fine on June 10, 2010 at 4:14am — 4 Comments

Bridge Asset Service Management Conference Update

Last night, I attended the evening welcome reception for the Bridge Asset Service Network Conference.

While there, I was able to meet with not only the principals and senior management of the company, but also several employees who agents will be interacting with during assignments.

In each case the experience was positive and I was impressed with the attitude of excitement that every person at Bridge ASN seems to possess. Todays event is something I am looking forward to.

Based… Continue

Added by Rick Fine on June 9, 2010 at 11:37am — 2 Comments

Bridge Asset Network- The Next Generation Of Default And Distressed Asset Management

I was fortunate enough to listen in on Jesse's blogRadio interview with Angelique and Bobby of Bridge Asset Network.

They have what sounds like a unique model for managing distressed assets and are marketing to clients outside the normal channels of property assignments as well as to the traditional sources of inventory.

It was refreshing to hear their perspective on the relationship between agent and client as well as their policy on property preservation. Both were very…

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Added by Rick Fine on May 16, 2010 at 4:15pm — 1 Comment

REOMAC- Bahh-Humbug!!!

So how many of you fellow REOPRO-ers have run into the REOMAC membership brick wall?

I've tried to join REOMAC for about 3 years now and have had no luck whatsoever.

What is up with these guys? It reminds me of the 'clubs' that kids would put together when I was in elementary school, (not long after the wheel was invented), where the rules for membership were never quite explained, joining was a process cloaked in secrecy and the members were part of the 'popular… Continue

Added by Rick Fine on December 2, 2009 at 4:23am — 5 Comments

So Now I Guess I'm A Distressed Property Specialist...(And here I thought I was an REO agent!)

Of late, I find that the markets I work in, (Phoenix, AZ and Sacramento, CA), have slowed to all but a screeching halt as far as receiving REO assignments go.

As everyone knows in the business right now, if your selling for Fannie or Freddie, you're a lot busier than the rest of us...I could bemoan the unfairness of the favor Fannie & Freddie REO agents in my office of 300+ enjoy, but what's the point, they got in and I did not.

Despite having the trust and regard of my asset… Continue

Added by Rick Fine on November 30, 2009 at 2:40am — 6 Comments

REO Agent DREAMS & NIGHTMARES!!!

If there's one thing that most of us can agree upon is that as reo agents, we see the best and worst that our great nation has to offer. On any given day, we will be assigned a property whose occupants are in the middle of some of the most heart-wrenching circumstances one can imagine. On that same day, we can also see the worst that society has to offer with obvious loan fraud, property theft and worse. Later that afternoon, we might run into a large and very unhappy dog left behind IN the… Continue

Added by Rick Fine on May 1, 2009 at 9:30pm — 2 Comments

Is A Property Vacant If The Occupants Aren't Human?

I just got an assignment and went by the property to verify occupancy.

I ran across something all of you may enjoy: REVIEW THE PHOTOS!

Apparently the back fence fell down and the neighbors livestock came over to graze, (A steer, several sheep and a strange looking goat).

The neighbor put his fence back up but left his animals on the property to graze so they've been there for a little over 2 months and appear to have made the place their home.

They are being returned by… Continue

Added by Rick Fine on January 22, 2009 at 1:00am — 1 Comment

Creative Evictions And The Wonders Of Tossing Tweakers!

Well now, isn't that an attention-grabbing headline!

I've been doing this for just under two years and woo-hoo, it is definitely the most interesting and financially rewarding experience I have ever had.

I say financially rewarding from the context of commission volume, not hours vs dollars.

If I used the hourly model, I think I could do better handing shopping carts to people at WalMart or punching buttons on a cash register with pictures of fast food on it...

As the… Continue

Added by Rick Fine on November 17, 2008 at 11:37pm — 2 Comments

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