2020 REO Companies

What are the most recent REO companies, that are legit, that everyone has signed up for? 

As the industry has changed so much over the dozen years I think we should use this discussion page to note good REO companies in the new decade...

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  • There a few REOs in my area anymore. (Bend, OR - hot spot) Most have been in the system for many, many years before they get resolved to be finally foreclosed on and listed. I am still signed up with Equator, Summit Valuations, DispoSolutionsr/Excelleras, SWB, and Pyramid, but as stated before not many foreclosures. I have not re-signed up with Res.Net due to the cost and NO REOs from them for two years.
    Due to COVID, I think we will see more in the future, but they are going to be a long time coming and will be going through court battles due to loss of income no fault of the homeowner. Just my humble opinion on this last part.
  • What it the best way to get on the asset managers top of mind to get assignment. Thanks in advance.
    • Hi Michael, I am not sure what area you live in, but if you are in a thriving real estate market, there might not be but a small handful of REOs. Have you checked the NOD lists to see how many are being foreclosed on in your area?
  • Many of the companies I used to be registered with no longer service my area in Central Florida. it seems that several merged or do not assign from my area.
    • Many liens are sold wholesale to Hedge Fund LLCs. or go to Auction now. They still need agents and order bpos. They often will reach out to the agents that do the best bpos.
  • Getting on the Vendor list is TOUGH. Many are not accepting new agents in certain areas. If the REO list is closed see if you can get on their BPO list! Reason being is that was the old method in getting on the REO list, they would pull from their BPO list when they had a need in a certain area. Or you could get lucky. Being on Res Net is a plus as well, Equator the same thing as smaller companies many times use them as a source for REO listing agents.
    • I am registered on all the platforms for a year now and have not receive an assignment. Any thoughts moving forward.
      • Michael I have been on both platforms for over 10 years and have not gotten any REO. I have called asset managers and asked for assignments and still nothing.
  • Keystone Asset Management is good, Planet Home Lending is a new client, they drive me nuts at times. ResNet as stated here is GREAT.
  • Michael Fitzgerald, the VERY FIRST rule of thumb is what Nora McDonald said. NEVER EVER give out an asset managers contact info. NEVER. Secondly the AM uses a list of vendors that are supplied to them. You first get on the vendor list. They can only work with that list. I many years back had an agent find my AM. I had been in touch with her as I was having a difficult time with the agent. She called me (they never call you unless you are in deep crap or it is something they do not want to put in writing). I told her I did NOT give out her info, he found it. She said 'he is just like you said, arrogant, nasty, condescending. The next time he calls I am just going to hang up on him'! I had a good relationship with the AM and keep them updated so this did not come back to bite me.
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