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Titanium Solutions a dream or nightmare?

I have been a Titanium Housing Retention Consultant for a while now and as of tonight, I don’t believe I am anymore.

Let me say, when Titanium first started, it was a force to be reckoned with. They had clout, standing and were well respected yet, how time strips even the most promising of their ability to fulfill a profitable future.

You see, it has come to my attention through my experience and company insiders that Titanium has greatly reduced their Salt Lake city staff, greatly reduced their number of assignments and it’s staff are wondering, will today be the day the doors are locked.

I don’t want to talk about my personal experience with Titanium Solutions because, at one time, it was a company I truly supported and in fact, it could be argued that due to me, a lot of their HRC’s heard of them so, I have a bit of affinity for the company however, things have changed.

I have been rejecting assignments lately because the pay has become almost laughable, the contact ratio is ridiculously low and the short sale conversion rate has almost dried up. Granted, some might say all of these things depend on the individual agent however, I beg to differ.

You see, Titanium no longer has the monopoly on home retention specialist or short sale experts and thus, these homeowners are finding alternatives and not relying on the banks to make first contact. In fact, most of these homeowners are going to 3rd parties like NACCA or Federal and State foundations set up through local community centers, churches and non-profit organizations. Truth be told, even banks are now sending out information to local resources these at risk homeowners can drive to in order to get the help they need so…..large national outreach companies like Titanium are finding this new market place of proactiveness very difficult to deal with. You see, the Titanium business model was built on a reactive frame work. In other words, when the bank wanted to make contact with a homeowner to save the home, they would send out Titanium as a last resort but, that is no longer they case. In fact, many States now handle home retention locally through nonprofit organizations so, instead of paying a company, they can get a nonprofit to do the work for much less.

Anyways, enough about why Titanium is failing let’s talk more about my call with Francine Bailey Bird. Francine is my HRC Manager, or something like that and she calls wanting to know why I haven’t accepted or declined my assignment. Well, I explained to her the pay was too low and we the conversion rate to short sales was non-existant because, many assignments we were now getting were strictly home retention. Of course, she begged to differ with me and that’s fine but, none the less, I told her I wasn’t going to be accepting the assignment if it was just another home retention assignement. She then proceed to tell me that is all she does and if I am not interested she can just remove me from all assignments. Her flippant attitude towards me really sealed it and I replied with a, “Ok, that’s fine with me”

So, as of right now, I don’t think I am a Titanium HRC but, I have to be honest, with a Area Manager like Francine, I am ok with that. I mean, I am sure someone would find her as effective and good at what she does but, if her job is to keep HRC’s and work at making them successful in a team effort….in my opinion, she will fail miserably.

I don’t think Titanium is on the right path, I think Excellen, their REO division has destroyed them and their reputation. I think they have lost a lot of great employees that once made them great and now they are dealing with a skeleton crew, over worked, under paid, under appreciated, jaded, pissed off Area Managers and now, they can watch their best HRC’s walk away because half of us were only staying on due to the promise of getting REO inventory and now we are one and half years later with nothing more than an email telling us Excellen isn’t expeting REO’s for a “while”

Sorry Titanium but, your house is obviously not in order and we are seeing it.

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Comment by Sam Shueh on January 13, 2011 at 12:30am

Against all odds I decided to do the home inspection. Unfortunately, one property is very rural by the defunct rocket firing facility and another 1 to my shock was a home I knocked its door several times to get a short sale listing.  The amount of HI took 3 hours. TS wants images with dates and time to validate that HRC was there. My camera will release that embedded feature when print with their own software.

So potentially I will get paid $16 with 50 miles of winding drive after ~3 hours of work. The home owner who would not talk to me to agree on a short sale will be evicted. Most likely they spent $1000s on lawyer fees in vain. Monday the home will be auctioned off. The other house was near Mt Hamilton on 2000 ft above sea level...  The home inspection involves interior, exterior, photos, repairs, as well as written report in addition to TS data entry.... 

Are there many HRCs wanting to do inspections?

Comment by Reggie Woodgett RDCPro, CDPE,FSP on January 9, 2011 at 8:42am

I must agree with all that you have shared.  I myself had shared with colleagues a few years back about Titanium and that it was great for a company to provide the home retention services.  I have never receiving anything but minimum pay for my efforts, no short sale listings or anything of that nature.  As far as Excellen, I am constantly seeing where some of there head staff my be speaking at an REO Summit, Training, Bootcamp, and whatever.

I don't see where there is anything is being offered to the folks like us that have hung in there chasing the carrot of being approved in their system to receive work that doesn't appear to be in sight.

If they still have the clout they once had, I sure that should have acquired some assets to dispose of by now.!

It's a new year and I leaving the promises in 2010.

Comment by Sarah K. SChwab on January 2, 2011 at 7:54pm
I have had similar experience with Titanium, but  what bothers me, is how many times I was not properly paid  according to the work I did on the assignment that I was able to prove.  Their bookkeeping is sloppy. I was a great HRC, but after I noticed that I wasn't getting paid the way they promised they would pay me, and I was told someone would return my call, and never did; what the heck? I am plenty busy without them. 
Comment by John Accornero on January 2, 2011 at 4:36pm
I will stay with Titanium as long as they will have me.  I ache for more assignments and will be happy to pick up the slack for you other more proud agents.  I am sure Colin Powell was a private at one time and we all need to start at the bottom.  I cannot afford fancy conventions like REOMAC, etc.  It is just not in my budget right now.  As for assignments ,  I think we were assured of some here as well and I have yet to get anything.  Oh yes we had to join "Realty Pilot".  That was cut from my program due to lack of performance.  Dianna Mc Grath , my AM at Titanium has always been easy to reach and is great to work for.  I just checked...I still have my account !  Yes we work for low pay, but I will gain considerable experience and I will know every neighborhood in the Los Angeles area; I will be the local expert anywhere!  I recently had an assignment 25 miles away in Venice CA.  Got it done too although I had to visit the landlord owner lin Long Beach.  Got it done  on the first trip out!
Comment by Mark L Brown on December 30, 2010 at 11:16am

Titanium Solutions just cut me loose!    After 3 1/2 years of working assignments, I went to login, only to find myself de-activated.  A new area manager, who never informed me he was the new AM, decided with no communication to deactivate me based on  a low rating and too many HRC's in the area.  Are you kidding me?  My rating/experience was good enough to be picked for Excellen but now am I de-activated.   What is going on?  If too many, why keep the newer HRC's?   And why not email me about this first?   Treat me like a professional.   I guess nothing says Christmas like de-activiation.  Very poor management.   Any advice as I prepare a letter to the CEO? 

Comment by Scott Olson - REO Sacramento, CA on December 29, 2010 at 11:47pm

The pay was definitely laughable, plus, they wanted you to drop everything and make three after hours attempts at contacting homeowners, within 5 days.  That really meant that I wouldn't see my family for a lousy $35.00.

 

$35.00 – Really?  I can't get a plumber to come out to a house even one time for even close to $35.  They need to seriously reconsider their pay structure, and demand level.  Not to mention after working with them for a very long time with the promise of Sales, you are no longer allowed to offer your services, and then they start their Reo Division and say they don't need any agents in my area....they can have the headaches and the slave wages!

 

Comment by George Kenner on December 28, 2010 at 11:54pm

I think they are trying to make a change in the Business Plan.  The Treasury Department Changed the HAFA rules today Dec, 28th 2010 and included a phrase "contractor of the servicer".  This could be something they have an eye on.

I have been involved with conversations with Treasury about HAFA and how it is evolving.  I am seeing things like grossing up, poor turn times and no meaningful SSA contract.  The National and State Associations are looking and with Congress changing party control we could see some real CHANGE not this Hopie Changie thing....

Comment by Greg Masson on December 24, 2010 at 8:39pm
I stopped doing their assignments when we were required to give the mini miranda warning regarding being a debt collector. I loved the concept of being proactiveand perhaps assisting people out of a bad situation, or maybe getting a SS listing. I helped a few get a loan mod. In my mind, the assitance was hindered by having to give the warning, and I could see where it may have stopped the process dead in it's tracks. If someone knocked on my door and siad they were a debt collector and then asked if he could help me, I would have invited him to sit on a cactus!
Comment by Jose Rivas (DGRA) CDPE, SFR on December 23, 2010 at 6:38am

I remember how everybody was so upset that they were not invited to be part of Excellen REO. I heard stories of agents going the extra mile to complete their Titanium assignments, etc, etc. I haven't accepted or complete a Titanium assignments since the beginning of the year when they lower the rate for assignments.

I am a SALES AGENT, that means I get pay to sell houses, These home retention assignments take too much time and get on my way of  actually getting real estate business. I am not a Fedex, UPS or DHL, I do bpos because I get pay well for a one visit to a property. I have several listings that I have work hard to get, and I have several buyer agents working the leads that I get from my listings.

I think at first we all wanted to help homeowners and the payment was OK, and for some of us the business was going south and we were in red, so we have to do some odd jobs to pay our bills, but less than $60 for home retention assignment of less than $50 for a bpo is ridiculous. Anyone could make more money at the local burger place taking orders or flipping burgers, after all working there you don't have to pay boards, mls, business cards, insurance and there is not a lot of driving cost.etc, And they even provide an uniform.

Well Happy  Holidays everybody.

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