I'm curious what your thought are regarding this new requirement from Altisource?  General Liability Insurance is around $500/yr  +/-


Greetings from Altisource!

To comply with one of our Client´s requirements, we request you to provide a General Liability insurance certificate with the following limits:

•             $1 Million each occurrence

•             $2 Million general aggregate

Either you or your Sponsoring Broker should be the “Insured” in the certificate.

General Liability insurance protects Altisource and its’ clients from third party claims for bodily injury, associated medical costs and damage to the properties. This certificate can be obtained at a nominal price from any insurance provider.

Please send us the certificate by January 31, 2015 to Broker.Admin@altisource.com

If you need assistance in either upgrading your current insurance or purchasing a new one and/or if you have any questions, please respond to this e-mail and we will assist you. We appreciate your cooperation and look forward to continuing our business relationship with you.

Broker Admin, Vendor Oversight



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  • Doesn't surprise me. Just wonder why it took so long. Many ask in their sign up applications if you have General Liability insurance and require annual updates, but never have come out and demanded that you carry it that I know of. 

    • for the amount of work .. its a big no .. there is no reason to carry general liability to drive by a house and take a picture and what some of these companies pay for interiors its not worth the paper the check is printed on

  • Doesn't surprise my. Just wonder why it took so long. Many ask in their sign up applications if you have General Liability insurance and require annual updates, but never have come out and demanded that you carry it that I know of. 

  • I sold several REO listings for Altisource last year where I was the 2nd or 3rd agent they had turned to and I was the only agent that could sell their junk and then one day got a notice that I was terminated and no longer qualified to sell their listings. I contacted all the asset managers I had dealt with and they either wouldn't or couldn't tell me why. Finally, I spoke to someone who told me, they had no reason they could give me but have the option to do whatever they want and they chose to no longer give me the business. 

    I have to admit I wasn't sad, they were only paying me $800 GCI and paying themselves the rest of the commission to two companies they had listed on their listing agreement. I knew what I signed up for so I never complained and always looked at it as a resume builder but always had in the back of my mind that they were creepy, their properties crummy and their whole approach kind of dirty. 

    Goodbye Altisource

  • Altisource just announced 800 layoffs from overseas and in the United States citing the need to realign their business model and expand further beyond their Ocwen business which accounts for 65% of their business.   They did cite Ocwen's current legal problems.   See the MRReport.   

  • Altisource/Ocwen just want to share the love of the law suits they have been hit with to realtors who keep doing business with them.  Unfortunately, bad business practices will land you in court.  It appears that Ocwen operates under too many umbrella's which is clearly a conflict of interest.

  • I am just surprised it has taken them so long to ask for this again.  I submitted this once back in 2012.  My broker carries it.  

  • Anyone still working with this company is not reading the newspapers.

    • dont see the correlation Altisource has issues yes but they pay for the work we do .

      • Good chance they will be shut down in CA and that may spread to other states, these forums have no tone so let me interject some respect when I say the pay is not worth it for me; I would also say if you are working for Altisource then you are missing opportunities elsewhere.

        There is no pay to play. Period. Ever.I have sold over 1000 REO the past 10 years and the only requirements are membership with res.net and Equator.

        $40.00 for a BPO = $15 an hour. This is not selling real estate nor why we all got licensed.

        Working for Altisource who will (according to the US Atty General) ignore laws and agreements that they signed, in order to confuse and cheat their own clients is not a company I want to be affiliated with.

        Altisource has shipped most of their office work offshore so they don't even hire American. Further, they have cut commissions so low that you have to ask yourself if it is worth it: What could I be doing that I am not doing now, because I am so busy working for peanuts. Have I turned into a monkey?

        I am speaking personally, please do not take offense, but I dusted off the business plan when REO went away and ran the numbers: other than being the least desirable client I had, they were not even profitable for me. And I have worked for them since they were Berkeley Federal, been to the home office in West Palm and count some of the execs I met then as close friends today. 

        Time to retool.

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