REOPro - Real Estate Default Professionals

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Titanium Solutions Closes Doors - Is it True?

Since 1999, Titanium Solutions has provided In Person Outreach Services to the Mortgage Industry.  We have helped Mortgage Servicers, Insurers and Investors reconnect with severely delinquent borrowers in an attempt to work out their delinquency in a dignified fashion.  Over the years we have engaged over thirty thousand professionals who have served our business well.  We have reached out to hundreds of thousands of borrowers, assisting them with their difficult financial situation.  The benefits we have delivered are countless.  For many, we have enabled loan modifications that have kept them in their homes, for others we have assisted with a Short Sale while others have benefitted from Deed in Lieu of foreclosure assistance we have provided.  Scores of families across the country have benefitted directly from the In Person Services offered by Titanium Solutions.  For our clients, we have helped them realize hundreds of millions in loss avoidance enabled by our professionals reaching out to their borrowers, who have helped rekindle relationships that would otherwise have gone straight to foreclosure.  And while this service has delivered such overwhelming success to our clients and their borrowers, the use of face to face outreach has seen precipitous decline in the market.  This decline in demand can be attributed to improving mortgage delinquency rates, declining foreclosures and improved servicer processes, all positive signs for the mortgage industry; unfortunately not beneficial for the long term growth of Titanium. As a result of these changes in the marketplace, we have decided to cease operations effective March 13, 2013.

We at Titanium would like to express our deep appreciation to all of our Home Retention Consultants who have worked tirelessly over the years providing such a professional service for our clients to their customers.  You have been the face of Titanium.  It has been your work that has lifted the burdens of so many who have suffered greatly due to the financial crisis this country has experienced.  You were the face at the door delivering the good news of opportunities that existed as we worked to reconnect them with their financial institutions.  You were the hope for many when there was no hope.  The good work you have done is greatly appreciated by the team here at Titanium Solutions and we hope that the contacts you have made and relationships you have established with these homeowners will continue to bear fruit in years to come.

Effective immediately, all work outstanding assignments are being closed and returned to our clients. Should you have any updates that have not been entered into the system, please forward those updates to contact@titaniuminc.com.

 

 


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Comment by Billie Dalessio on March 19, 2013 at 11:50am

Hey Jessie, I'm in-Let me know when REOPro wants to "pick up the slack", according to the other comments it appears there is quite a bit of it.

Comment by Fulton Gaylord on March 19, 2013 at 11:44am

I'm sorry, but...

I worked with them a short while and found that the amount of money they were willing to pay was WAY too low for the amount of effort involved.

Also, the person I was dealing with was an imbecile. Her English was poor, her writing skills worse, and her ability to manage and delegate in an understandable manner left me totally frustrated. I left with the feeling that here again was a company purporting to do God's work on Earth yet shafting any and all Realtors who were looking to try and weather their own economic slow-down by taking on these side jobs. I'm not at all surprised they're gone.

Another one that imploded was NREOB. Their management was so incredibly deficient it again was no wonder they basically stopped most of their operations. I got 24 listings from them in a span of 1 1/2 years, and during that time almost everyone left and what was left...well, enough said.

I really wish we had an outfit run and managed by Realtors. The things we could do! Because I see how banks are operating and they still can't seem to get it right! Let there be no more questions why our economy is where it's at right now--major reason is BANKS!

I say goodbye to Titanium and NREOB and any others like 'em, and good riddance.

FWG

Comment by Tee Williams on March 14, 2013 at 9:55pm

I received the email today at about 3pm. I was totally floored and didn't believe it. I just closed 1 of 4 Short Sale referral  I received from them in Feb 2013. I was very excited about being able to continue working those leads. The owner for the property that just closed was very excited and relieved that I had located and reached out to him - it wasn't easy because he didn't live in the property. We were able to clear up $25K in judgments for him as well as get the property sold in about 45 days. I LOVE MY CAREER!

Comment by CECILIA D FOX on March 14, 2013 at 7:17pm

Yes, it is true.  I got the email and checked the website.  The announcement is the ONLY thing on the website.

I also quit them a long time ago.  The only client I was aware of was Countrywide when they were still in business.  I delivered loan modification offers and had to tell the borrowers in all good conscience that the offers were not good for them.  They, of course, usually could figure that out for themselves but I felt obligated. 

There was no mention of their asset management company, Excellen REO, which they started in 2010.  I never heard much buzz about them.  Their website is still up with no mention of Titanium's shutdown.  The last press release posted was in 2010.  

Comment by Sam Shueh on March 14, 2013 at 7:02pm

It is really the improving economy and low probability of convincing the borrowers to contact their lenders. It was a big thing then.

There were some real honest folks wanting to do a warm transfer before.I even got calls thanking me to talk to the lenders (loan mod approved).  Now, with very few home owners underwater, the home owners tend to be the dead beat wanting to have nothing to do with HRCs. File bkpt stay there 2 more years.... 

Comment by Jesus (Jesse) Gonzalez on March 14, 2013 at 6:11pm

Yeah, I must admit, I left them about 3 years ago myself due to pay....lol. Amazing how that happens....lol. None the less, If REOPro gets to step up to something like that, I assure you, as a fellow agent myself, we will be offering competitive pay however, before we go down that route, I guess I first need to find a client. Anyone know any of the clients they had they can put me in touch with ?

Comment by TR Lawrence on March 14, 2013 at 5:40pm

Dale I was the same as you - the pay that they was offering was off base so I ended with them awhile back- yes about 4 years as well and Jesse if you start something in that area if the pay is fair I am open to listen. as the need is still there and so are the hungry agents and homeowners in need & lenders who need the service.

Comment by Dale Kuzniar on March 14, 2013 at 5:20pm

Hey might as well end the misery for them. I don't know who would do any work for them with there discount payments.... I left them 4 yrs ago when they starting cutting fees.... Good bye.....

Comment by Jesus (Jesse) Gonzalez on March 14, 2013 at 4:24pm

Hey Billie,

I am sure the value is there and, I am sure the banks can use door knockers. I think the problem Titanium faced was growing too fast and having unsustainable debt.

 

Truth be told, REOPro, is in a great place to pick up that slack....we have a huge network, we have training...all we would need is a internet order management system ie....something like Equator. A little start up capital...maybe less than 100k....and we should be able to do it.....hhmm..., just a thought

 

Comment by Billie Dalessio on March 14, 2013 at 3:59pm

Cannot believe that "face to face" contact would not still be highly valued. The lenders benefits are many. If it is true, I won't be surprized if another company doesn't jump in to fill the gap.

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