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I know I usually write preachy blogs but today it is different.
I am confounded that I cannot get more BPO work to do. I notice companies like Clear Capital have their "designated agents" ( you lucky one's!!!). Another company denied me because they have another agent within a 30 mile radius in my office doing BPO's (E Mortgage Solutions).
I get most of my work through OLD REPUBLIC TITLE and I wish I had more from them . They are good to work with...their reps will call you to check in, are adept at getting you more information about a property if you need it for the report, and I just really have to say great people. Old Republic BPO's are like candy to me because I know I am doing important work that may lead to REO assignments. While it is true I amy be up at 4 am finishing up one, I always get a sense of achievement after I complete one. The BPO AUTOMATION acceptor is a great tool in facilatating my success and despite the fact my computer is less than ideal for this memory hungry app, I manage to snag a few and Old Repubilc is okay with that although they have a search limit of 720 x per day. There were a few days when it was just way too efficient! Best $500 I ever spent!
Lately it has been kind of quiet...at least in my area.
I anticipate that it will change soon however because properties appear to be coming in 1st qtr 2011. I have even heard that banks are not messing around with short sales and that if the homeowner is in trouble the free ride of 18 months will be over...short sale or else get forclosed on. Trying a loan mod 2 or 3 x is not going to work if the income is not right.
In closing I hope somehow the folks at Old Republic see this as us as partners in the process. Thanks for your supportive work and trying to understand why you get wacky comps on some of this wacky property that I have to try to evaluate. It is nice when you can compare a normal house to another, but what happens when some wisecracker homeowner decides to build a castle in an area of smaller homes or the only 4 plex single level for sale in an area that has only two story comps available... or how about the model home that was built as a single story in an area that they built very few and the other 95% of the tract is two story? So much for similarity and yet these are examples of BPO's that I have encountered. So far I have not encountered a threatening homeowner, although they sometimes wonder why is this man photographing my home? I wish the lenders would advise the homeowner of that happening. I don't like having to sneak up on someone! I sometimes feel like I am on a CIA mission...fast in...fast out!
Good night everyone! Share your exploits!