First Preston AM for BofA, Chase & Countywide

I recently got approved and signed up with First Preston. The have informed me that they are expecting REO inventory in CA from Fannie. Has anyone else heard this or worked in CA with First Preston? I was told by one of the broker coordinators that alot of the current inventory is Freddice Mac. This leads me to belive there is another wave/rush of REO's coming to the market soon.

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  • I use to get assignments from First Preston but haven't in a few years; anyone still listing REO's from them?

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  • Please do keep us posted if First Preston has any REO assets coming to CA. I was considering to pay the 99.00 on Bidselect.com has anyone heard anything about either? Thank you.
    • If you notice the last post before yours it is dated 11/27/2008, Roughly 3 yrs ago!
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  • has this happened
    • Go to Firstpreston.com and sign up. Good luck!!!
  • Approved with FP and got my 1st one within 1st week. I'm in initial process. I have done the PSR and BPO already and they said I'm the designated agent for this property but who knows. I'm fairly new for REO and BPO stuff but still learning everyday. I think you have to have connections in order to get REO's.
    And you have to be the only one in the office for each bank, there can not be a multiple agents for REO's for same bank. Someone I know whose properties wells fago has cancelled recently because this agent was recently joined and there was another one who was handling wells fargo's already. The way I understood, there could be only one agent in one office for that particular bank.

    I heard FP doesn't take anymore agents from CA. I heard that countrywide will be a separate REOs, it won't be a part of BofA. There are lot of rumors going on. I will be glad if CW be part of BofA, that means more REO's for FP.
    • Can you how you got approved with FP
      • You need to follow upi with them and call them. First step is sign up on their website.
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