REOPro - Real Estate Default Professionals

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Has anyone received any BPO assignments that they want you to drive the comparables so you are more able to compare them and take original pictures of the listings and sales?  Imortgage just sent me an order and they were willing to pay $40 whole dollars for the assignment. These BPO mills do not value our services that is for sure.   On the default cost break down I've seen on some of my short sales I see they are adding anywhere from $150 for valuations, per valuation listed by dates,  plus and additional charge of $300-500 for appraisals.

These servicing companies are really pushing the envelope.  They are wanting everything an appraisal offers and not willing to pay for it. 

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Comment by Rob Lewis on January 24, 2016 at 8:04am

Ive noted solutionstar state that in their acceptance letter but I have had no issues with mls pics.. you cant afford to take pics of comps for $40

Comment by Rodney Everett on January 18, 2016 at 5:05pm

I fired iMortgage Services. $40 was too low.

Comment by Madalen Heringer on January 4, 2016 at 4:41pm

I always complete my BPO's with MLS and/or internet pictures for the comparable, have no issue so far...

Comment by Dana M. Byrd on December 15, 2015 at 2:17pm

Wont be me doing those pay me an appraiser fee then I will

Comment by Pam Maglione on October 1, 2015 at 3:35pm

Wow, I haven't seen that yet. That sounds a bit crazy!

Comment by CECILIA D FOX on September 30, 2015 at 8:40pm

They want us doing everything that an appraiser does except the appraisal form.  Appraisers pick their comps before they go out and do in person photos of all of the comps.  Then they make their adjustments.  I observe the subject first, then pull the comps.  I think I refused to take photos of comps a long time ago for one of my clients.  That requirement went by the wayside just like the requirement to stand in front of the property with a sign did.

Comment by Mark Allen on September 30, 2015 at 9:54am

I had one of my BPO companies try that a few years ago, I told them no way and to reassign the orders. My vendor manager said to be patient, it would be dropped soon as all their agents were refusing to take the comp pics without a huge fee increase.

  He was right, it was gone after about a week. I completed the current BPOs with MLS comp pics, no issues.

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