This may be of interest to a great deal of people.
If you have not received this yet, I hope it helps.
To: ORDMS/REO Valued Listing Partners
From: Rick Snoke Vice President, Real Estate Operations
Re: ORDMS REOVM & RTS Deadline
FINAL NOTICE
Over the last quarter, ORDMS has issued important reminders regarding partnerships with REO Vendor Manager (REOVM) and REO Solutions (RTS).
No later than July 1, 2010, ORDMS will be migrating to those agents fully registered with REOVM for the assignment of new REO listings and will move current inventory for non-performing agents / brokers.
This will serve as our final announcement and we encourage you to act immediately.
It is the desire of ORDMS to continue our relationship and that you remain eligible to receive listings from ORDMS. However, to move forward in maintaining your eligibility and to allow us to enhance the valuable partnerships we've developed with both you and our clients, the requirements outlined must be met:
ü You must register with REO Vendor Manager. Log on to: https://www.reovm.com and follow the registration instructions. Any questions during registration should be directed to an REO Vendor Manager Representative at 1-800-318-1REO (1-800-318-1736); refer to the FAQ section of REO Vendor Manager or email info@reovm.com.
This registration will satisfy the REOVM registration requirement for any client utilizing this service.
ü You are required to successfully complete the Accredited REO Agent Program, including the ORDMS specific to be an Accredited REO agent. If you have already completed the REO Training Solutions Accredited REO Agent Program and you are currently an Accredited (A-REO™) agent, you need only complete the ORDMS specific lessons. To take the courses, log on to: www.a-reoagent.com/oldrepublicdefault. Should you have questions or technical issues during the course, contact Technical Support at (877) 446-9329 or email customercare@reotrainingsolutions.com .
Any questions regarding these programs may be directed to the REO Vendor Manager Representative at 1-800-318-1REO (1-800-318-1736).
Comments
I have took the A-REO course when I had an Old Republic listing earlier this year and had signed up with REOVM too I have not received anything else after completing both and being approved with REOVM. I went to make sure everything was ok still on REOVM and they now display this
"ATTENTION: If you are being specifically asked to register with REOVM, please check with your client before completing registration as a complimentary account may be available to you. Thank you."
I can't find one REO broker who has ever received an REO from Old Republic in Lane county Or. Just $30-45 BPO's who they will give to any body with a licence and pulse. I heard they only manage assets in a few states but handle valuations everywhere. 2 companies emailed me just this month tellinmg me if I gave the $100 & $200 annually I would be in position for all kinds of REO's the fact is in the last 2 years I have received 32 reo's listings from sources I never paid a dime for NRT, REOtrans, and a few direct banks ( I don't pay for the extra zip codes in reotrans) 1 from Lamco & 1 From RES.NET I will be at the REO summit in June. Im going to find out for sure but I don't ever hear of or see any other stories. Of course there are plenty of optimistic agents who say be patient but I have been signed up with Lamco & RES.NET 4 years now. I also know none of the top REO agents in Oregon are on this site trading their secrets it's people like me doing 15-20 per year wanting to progress to 10 per mo. Or agent wanting to try and break in. If you get 5+ listings per mo right now and have had success with paying every open hand offering a golden ticket to REO listings I think we all would like to hear from you. I hear about disappointment & enthusiasm but in order to justify $2000 per year investment I need proof of results. These companies can't ever give it to me. I have called every one and asked for results. Averages and numbers of members vs listings given. They wont give it. I get the lottery sales pitch! You can't ever know if you would have won unless you play but even the lottery gives you odds!!!!! Anybody pleas confirm some statistics on how much you put out vs listing revenue ( Not including BPO's) You can do as many BPO's as you want without paying a penny! I have proven that already!
I was getting listings from Old Republic the last 2 years through Res.net. Now that they have changed to another co. I took the A- REO training and all I have gotten so far is BPO. So I dont understand what has changed. Can anyone give me some insite? Arizona
As for BPOs is $40-45 interior out of the area worth the trouble?
So, when they told me I had to enroll in the REOVM and renew with RESNET...I said goodbye!