Anyone heard of them? They just sent a "how great we are" email for BPO's...that always scares me, so I came to the best place I know for advice : )))
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Anyone heard of them? They just sent a "how great we are" email for BPO's...that always scares me, so I came to the best place I know for advice : )))
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I just closed with nationstar property and they were very easy to deal with.
Solutionstar is the default division of Nationstar the 6th largest servicer with $203 billion in servicing rights.
Nationstar is creating a default arm similar to what Ocwen has done with Altisource.
Servicer: Ocwen Nationstar
Default Arm: Altisource Solutionstar
Online Auction/Disposition platform: hubzu.com homesearch.com
See the pattern? I expect other larger Servicers to follow suit.
What is not known yet... is whether Nationstar/Soultionstar will deploy the same REO master broker model that Ocwen/Altisource does. I hope not... while the model makes for low cost disposition for the Servicer, the quality of the disposition suffers significantly and ultimately so does the loss recovery for the investor.
As Solutionstar matures look for them to bring today's outsourced functions (i.e. BPO's from LSI) to in-house direct placement through Solutionstar.
I would not be concerned about payment, Nationstar/Soutionstar is a giant player in the mortgage servicing space with strong financial resources to pay. NYSE:NSM
They have historically been a large Fannie servicer, not much REO to place direct as Fannie handles their own liquidation. But that will change over time as Nationstar has been on a Servicing acquisition spree of late. As Fortress is a huge backer, and original capital partner, I don't see that changing anytime soon.
Only time will tell how much REO they have in the future and what disposition model the ultimately deploy. But, it just might behoove one to do their direct BPO's now in an effort to infiltrate their broker network... it could payoff down the road. Just my .02!! :)
Best,
Ken
thank you for the info Ken
Thanks Ken
good to hear from you
Hey Ken,
Do you have anything new to update on Solutionstar.
BobbyT
Thanks, Ken. That was very informative and I appreciate that.
My pleasure!
This is a new division of Nationstar. Nationstar themselves pay timely and I am guessing that they will be the same when doing BPO's for them.
Anyone have any tips on how to get business from these companies?
David Check out bpo-companies.com
There is a list of the most popular BPO mills by ranking. 1-5 stars. This site is owned by BPO Automation Group's founder Nicole Ocean but the rankings are based on bpo agents from all across this nation not by us. Very helpful information. If your going to choose companies to do business with it might as well be with the best ranked. Right? Hope this info helps everyone.
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