Replies

    • Class action lawsuit anyone???

       

  • I joined in Dec 2010 - it's now July 2011 and not a thing from them.  I'm sending off an email to them today requesting that they start processing my refund.  Will let you know how it goes.
  • This company is a scam. They called me and told me their clients were BofA and Wells Fargo. I happen to be in position to know that is total BS. If you paid this guys anything, get your money back by any means necessary. They have NO REO to assign to ANYONE. They are a scam.
    • Wells Fargo is primarily handled by Premiere Asset Services, I think..  Bank of America has about a half dozen companies they farm out some of their REO's to, and you're right, ABS is NOT one of them!
  • I register with this company 3 months ago haven't received anything from them. I will think twice before I spend money with a company asking for money upfront.

    • Ask for a refund - if they don't give it to you threaten to report to the Illinois attorney general, and tell them you will have their charge reversed and tell them you will send all the bad press here and on BBB site to your cc company as proof!

       

  • absreo, absolute reo solutions,  is a complete scam, do not give them your money, they are elaborate and well versed in this business. very impressive, organized system. im thinking ex asset managers, agents etc. i cannot get my money back. and yes they will send you a bpo quick, half the time its a fictitious address other times its just a house they pick, not in foreclousure, not getting refied, just to keep agents giving them money. the bbb is on them and they are acting under false advertising right now with having bbb logo on site. they have been banned by bbb and have a 'f' rating. theier address is an apartment building in chicago, which my friend is going to visit, i spoke to a resident of this building and shes been there for years and has never heard of any such place, im thinking its an overseas operation, using the chicago as address. i hope it is because than they can face some federal charges. i give them a 9 for effort and the ellaborate setup, figure it out, if 3000 agents give them 300 bucks...and believe me theres been more than 3000. ive been doing this for 20 years, been in reo for 15, i know some of the resnets, equator type systems are charging fees, but its a the web based system that several asset companies and banks use, they are legit. and please dont listen to the "plants" that the company can put in these forums,that very easy to do. i have spoke to these guys a few times, i very nicely said just give me back my money and move on. but no, i have to have my bank go after it.
  • Ok people,

    First I want to share my experience.  Three weeks ago I got a BPO order from them.  Finished it and got paid promptly.  While in the two years I have been with them, I have not got a listing either.  For the most part I can always talk to someone when I call in for followups.

    Now for the reality:

    There was another company as well ... promoted by REOPRO that was supposed to be great and not all agents got to join them.  They have been fairly quiet and secretive as well.  They are about 1 year old. Only recently did 1 agent in Washington get a listing from them and it was a common everyday FNMA one.  My point...hefty fees to join them...$500 just to go to their mandatory seminar!

    I get the feeling that everyone wants fees to get on a database for REO business.  Certain places like Old Republic Default make you take classes from A+REO and also pay to get on a vendor support database, another $200.00.  NONE OF THIS WILL GUARANTEE A LISTING!

    Why is everyone beating up a system that is quite normal in this industry?

    Can we not have a point man that will help to make REO a reality instead of something mysterious and sometimes political?

    • This company is completly different than real REO companies with real BPOs.  Sure other companies charge for training and to join them. They have thousands of agents wanting to sell lietings for them, it makes financial snece for them to charge. 

       

      ABS reo has no listings and no BPO work.  They send agents to random houses for one BPO. It is all a scheme to get your sign up fee of which they provide no training and no hope of any listings.  They flat out lie about having listings in your area that they will give you if you sign up. That is why the BBB has an F rating for them.  Other companies are very honest up front and tell you, you may never receive an assignment and signing up is no gaurantee of work. 

    • I was recently (well, last year) referred to Old Republic by BofA, as I am on of their preferred agents and they stated farming out more of their REO business to other companies..   I know other agents that work with them, they do get listings..    They're not in the same league as ABS...  not by any means..  Just checked my emails - discussion with another agent - he said he gets listings from them here and there, not many but one deal covers the $199 signup and $399 training...

       

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