BACKGROUND CHECKS

Hi Everyone!

I was recently completing a BPO for ClearCapital when it prompted me to accept or deny a background check.

It specified I either have the check done or risk not getting any more orders. Plus, it was mandatory and at my expense!

Is this fair?

We get low fees and when we do the work at times we don't get paid!!!

Also...it states that every BPO company was going to make this mandatory and each time we have to pay for a back ground check for each company. One check will not do for all!!

 

Any thoughts on this?? 

 

Thanks,

Sandy Gleicher

ERA Team IV Homes

Poughkeepsie, NY

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Comments

  • Because there is no current law against them doing this and can get away with it, you either pay or you get no business.  So its up to the agent and their financial status.  If they need the orders to get by then you do the background and if you are one of those agents with lots of listings but they fall out, again you pay it.  Otherwise, how does any agent you get by with no income coming in.  The NAR needs to find a way to have this issue brought up on a state government level together with the BRE to make a new law governing this kind of unethical business.  A Realtor who has already been background checked, this report should be the only one that every company should be using directly off the BRE site.  But again, its about politics and money.  The Attorney's working with NAR also want to impose extra fee's in order to go out and battle and the problem is, they don't do a great job as it is and don't battle enough across the board to make it equal for all realtors in the business and lean towards the groups that contribute more funds.   In otherwords, they appear to be working more for the banks at this time.  They don't seem to come down hard enough to get these banks to monitor unethical asset managers/brokers/realtors. If a listing is priced right it should sell fast as long as the lisitng agent is working with other agents it will happen and if they aren't they become stale listings. I don't think that any agent should have a listing beyond 4 months on a standard sale or an REO or max 6-9 months on a short sale (again if its priced right) and I don't think that the brokers office numbers should be on our business cards or our private MLS listings, afterall it is the realtor that pays the MLS membership fee's and for all their advertising business (cards,flyers,websites) not the brokers.  Afterall, all they do is sit back and collect commissions while were out busting our humps.  We already pay office fee's for the use of the broker/franchise name and the use of the office equipment etc..etc.. and those fee's are already a rip off to begin.  Not to mention half our commissions and sometimes they want an extra referral fee just to give you an inhouse listing that's BS! 

  • Background checks are a bunch of BS promoted for who know what reason BUT the law is very clear that these BPOs are NOT for lending purposes! That eliminates any argument BPO mills can make that its coming from the lenders!  If it is the lenders themselves don’t know what they are doing.  I believe each and everyone of these that require a background check are members of REVAA.  Look it up and you will find that there are only a couple employees!  REVAA (Real Estate Valuation Advocacy Association) sites the TODD-FRANK ACT as one of there base guidelines and the reason for their existence. I have read this advocacy associations goals. It is painfully obvious that the true intention is to lobby and NOT provide any real change or meaningful improvements. I would really like to see 100% accountability of the cash flow both income sources and out flow distribution of this cash generated from "REVAA". Why? For one they site DODD-FRANK without specifics especially how it relates to we BPO providers. (Because there is absolutely zero).  Who needs REVAA to tell how we respond to the TODD-FRANK ACT. We are all licensed. Are all REVAA personnel, from top to bottom, investigated and do they have public background checks and if they do have they had one from each and every member of their association as we are required?  I very very much doubt it.   They have participated in Congressional Testimony side by side as an “expert”.   I can't help wonder in their zealous support of the TODD-FRANK ACT, and other financial institutional reforms,  why they only stress certain areas of concern?  I am here and now going on the record and factually stating that for one the BPO industry does not need any "help" from this organization.  And I challenge every member and THE LENDERS THEY REPRESENT, to answer the question at the end of this posting!  And I challenge each and everyone of you to follow up on the situation and if you don’t like their answers to STOP doing BPOs for these companies as well as, (most importantly), STOP placing your loans with the institutions that associate with those BPO mills.    Why do I say that? They have recruited many "members", such as Clear Capital, Proteck, LPS, Corlogic and many, many other secondary financial service providers and initiated them with the advice that background checks must be performed for their source providers. Is this going to "improve" the legitimacy of the valuation services and value they provide?  They are misleading the lenders.   

    I say “REVAA if you were at all knowledgeable in this area of the industry you would already know and accept that most state Real Estate licensing requires a background check PREFORMED BY THE LOCAL POLICE DEPARTMENT! Not by for profit organizations such as background check providers that charge substantial amounts for information easily gleaned from the internet. The police have information THAT IS NOT PUBLIC. Hum… I wonder which is more meaningful? “

    If REVAA was the least bit serious in their attempts to "help" the financial industry where it pertains to property valuations. I have to ask, no DEMAND, an answer to the following question! We all know most, if not all, State Departments of Real Estate have regulations that either stand alone or refer back to State Business and Professional Codes. That being said, it is openly known that there are salesperson and broker levels of licensing in the Real Estate industry. The purpose of the separation is accountability! The broker is responsible for a salesperson’s actions in ALL matters that require a Real Estate license and is expected to OVERSEE the work of the Salesperson. Most, if not all,--Business and Professional Codes have a regulation that promotes this requirement. That is why these regulations require that “NO COMPENSATION FOR SERVICES REQUIRING A REAL ESTATE LICENSE BE PAID DIRECTLY TO THE SALESPERSON AND MUST BE PAID THROUGH THE BROKER WHERE THE SALESPERSONS LICENSE IS UNDER:.

    Ok, REVAA, my question is: WHY ARE YOU NOT REQUIRING THAT EVERY BPO PROVIDER, WITHIN YOUR MEMBERSHIP, AT THE MINIMUM, IMMEDIATELY-- STOP SENDING PAYMENTS DIRECTLY TO THE AGENTS WHO PROVIDED THE BPO. REVAA IT IS “BY LAW” REQUIERED THAT THEY MAKE THE PAYMENT DIRECTLY TO THE BROKER WHERE THE LICENSE IS UNDER FOR DISTRIBUTION?  THIS IS THE SAFEGUARD PROCEDURE TO THE PUBLIC AND THE FINANCIAL INSTITUTIONS! NOT BACKGROUND CHECKS!   I don't know of any Brokers that will jeopardize their business over unacceptable BPO practices. Forget the background checks that are redundant and-- a waste of money with absolutely no measurable results and just follow the rules.

  • I was asked by SeviceLink to submit to a background check.  I told the asset manger that I have broker's license that requires me to have clean record or I will loose it.  That should be good enough.  I suspect that it has something to do with politics such as the IRS scrutinizing conservative groups.  I know that I lost all of my Fannie Mae business right after the Obamination was elected and I suspect that politics played a role in that.  A full background check will turn up what politicians you are donating your money to.

  • I do it, "pass" and after that, no more orders?? what's the issue??

  • I received the same e-mail.  I have been working for Clear Capital for years.  I recently had to do a background check for company purposed that I e-mailed them.  I don't like the idea of paying to work for companies.  It sounds like a way to generate more income for the BPO companies.

  • I've been in real estate since 1970 and no one has ever asked for a background check. BTW NAR can't take your license. Only state licensing agencies can do that.

  • It makes me wonder if these bpo mills might be getting a "rebate" form Sterling and others. I would Not pay a dime for a background check ... already have one as a licensed broker/agent. They can pay if They require them.

  • It stinks, that is my honest opinion.  I paid for a background check for CoreLogic ($12.95), then Clear Capital wanted a background check from the same Sterling Info systems that did the check for CoreLogic. The charge was $24.95 (I think) but they paid half and I only paid $12.95, which was reasonable.  Now Clear Capital wants something like $39+ for the same background check.  There logic for wanting a new check was that they can never tell what happened between then and now.  If that is the case then the check should be a real time monitoring type where they know instantly when something happens which would make me  not elgible to receive any more work from them.   

  • I have had to get a background checks with several bigger companies like Clearcapitol,Corelogic,Servicelink and others.  Though, most of them had a special that they would help cover part of the costs.  Unfortunately, Clear Capitol did not offer this and I just paid.  It was either pay or get no more business.  It really sucks having your background check half a dozen times a year with most from the same background company "STERLING".  You would think that these companies would allow you to just provide the most current BG report to them.  Though, somehow I think there some monies being exchange along the way which probably helps them get rid of some of their liabilities and brings their balance sheets closer to where they need to be.  But who knows, its just a thought.

  • The more "Background Checks" you submit to, the "More Databases" your personal information is stored in that is exposed to strangers!!!!! But, if you keep coming to the party they will continue to dip into your pocket. I officially declined CC and said I wouldn't do it and they still send me BPO orders:)

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