• Cece I had huge volumes also and many calls, about 140 a month just from Altisource alone with very high fees in places no one wanted to go. All of a sudden it stopped. I was told I was put on preventative use and no one would tell me why. I still can do their awful rental leases which resulted in me getting tons of calls on a property they decided to list and maybe a listing, but because I cannot do BPOs anymore they won't give me listings anymore. I have been doing BPOs for 13 years with Altisource. I was told by one of my clients that Ocwen's stock is down by 90% due to some internal issues and of course they have a relationship with Altisource. I was given a rental listing which ended up being listed and I wasted my time answering dozens of calls about the lease. They got angry at me because I could not take a phone call right away and I got dinged. Ultimately they had it being listed and completely wasted my time. I miss the money but not the incessant phone calls and threats about reassigning a bpo. I still have two land listings with OCWEN. but they won't reduce the price on them.  

    • When they had me reapply in July 2014, I think, they started putting all of my BPO payments in my company's name but continued to make direct deposits into my bank account except for the HSBC checks which came in the company's name.   They insisted on a letter from my broker to allow my direct payments which are allowed in Ohio. But the name on the payments never changed. 

      I then caught an accounting problem after reviewing 1099s from my broker and Altisource when I did my 2015 taxes.  My broker adjusted my 1099 to account for the problem which looked like double accounting last year. It looked like Altisource reported the some of the payments to both myself and my broker. 

      Now Altisource has an IRS notice that my company's info is not correct. Duh. They have my company's name with my SSN.  I never submitted a W2 with that info on it ever. I just submitted both W2s to them. I expect that this will cause unecessary accounting problems for my broker again this year. 

      • I meant W9 not W2. 

      • was that a W-2 or a 1099?  I am not sure why Altisource insists on W-9s from the brokerage.   I am the broker of my company but it is a pain to have to have to 1099 myself and others with Altisource. It is a mess for my accountant.  I had the same problem that you had before I opened up my own company with IRS reporting and it is a big pain. Now I guess I won't have that problem anymore.

        • I did have at least one Altisource closing so they pay the commission to the company. There was never a problem separating the 2 types of payments before. The problem is that they ended up reassigning MY vendor number for BPOs and my SSN to the company name.  

          This year, they sent half of a both sides commission to me at my house under the Twin Oaks Realty name and the other half to the office.  That's when I first realized how screwed up they still are. 

          Then this inquiry for "my" W9 happened.  

        • Well you aren't any employee of Altisource, so why would you have a W2?

          • they may had reported that or Altisource may have a problem with Accounting. I am 1099 myself. I was not W-2 but I had issues with Altisource demanding that everything be made payable to the brokerage.

      • That should have been on a 1099 instead of a W2... I will check into that also.

  • I worked with Altisource / Ocwen for over 10 years.  This year I wasn't getting any work from them at all.  I called and I was told that I was on the Do Not Use list.  I was taken back by that answer and asked the rep why, I was told there were no notes attached to my account only that I was DNU. I then asked how I could challenge the DNU? Answer you cant.

    I investigated this with other agents in my state and they all got the boot as well. Altisource/Ocwen also changed the State Broker (Massachusetts) not sure why. Altisource is still somewhat strong on HUBZU but most of the homes are really trash and the investors just pass them up.  I was watching an auction and the minimum reserve was not met. They relisted the property a few days later and the minimum bid was $20,000 higher than the former listing. I kind of shook my head on that one.

    REO and BPO won't be going away, but they are not going to be at the volume we were once used to. 

    • Ronald I got the same thing from them and they refuse to tell me why and they feel they do not have to. I think it is bizarre and unethical to do that. I now see that I am not the only one who has gotten hosed by them, but there are some serious issues with this company. When they were listing properties directly with agents instead of their in-house brokers we were paid a reasonable commission and were able to get their properties sold, then they went to this Go Homing/Hubzu site and paid the whopping 1% to listing agents if they were not using their inhouse brokers and everything went to pot. The houses are junk and almost always overpriced. I miss the money from the bpos but not the harassment. FYI I have been doing business with them for over 13 years. Not sure what is going on but there has got to be something internal. I know OCWEN has lost 90% of their stock.

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