I'm located in Massachusetts and do BPOs for Altisource. I have not seen a request or order from Altisource in the past four weeks.
Has anyone else seen a decline in Altisource orders?
Have they gone to an AVM model?
Do you have any information you can share with us?
Thanks,
-ron
Replies
I did appraisals for them for about two years. I was told that they have changed their valuation procedures to mostly in-house using the file information as the basis to adjust to current values. Makes little sense but I too have received nothing for a few weeks after a very steady flow for a long period of time.
Good luck.
Got this email this week from them:
My name is Nicolas Amengual, I work for Altisource’s Vendor Management.
This email is to inform you that your account has been placed in Prevented Use status because it has been inactive for the past six months.
Altisource has recently on-boarded new portfolios and we expect an increase of 30% in order volume. Therefore, we have new work orders available in ALLEN, IN and are looking to expand our network of active Real Estate Agents.
Are you still in the business? If so, would you like to reactivate your account?
There is a short certification to be completed first.
I look forward to hearing from you.
Regards,
Nicolas Amengual | Vendor Sourcing Coordinator, VMO
I responded why I had ignored them and asked what they need to reinstate me.
Ed
if its this guy its legitimate -
Nicolas Amengual | Vendor Sourcing Coordinator, VMO
Altisource™
P.O. Box 105460 | Atlanta, Georgia 30348-5460
P: (877) 839-7118 | ext 482XX| F: (407) 737-5730
nicXXXXXXal@Altisource.com | www.Altisource.com
Scott,
Grade System has always been there buddy - Ask for more than 5 Dollars and your score drops ask for $10 more and it drops 15 percent. I have their grading scale - its pretty umm.. interesting- two thirds of your score is TAT and Price....Quality...15% of your score...you be the judge
Disclosure - We have a client in MN that we capture Ocwen, Protek, RR Review and TONS of Old Republic orders and there are PLENTY if you run it like any other business and do bulk volumes and give great service...one CAN ( NOT easily, but with effort do 280-475 in your market on a monthly basis ( This is not an ad or solicitation- just thought you might want to know where I'm coming from in terms of bias, conflict, self serving etc) - Not all markets run like this, but most vendors want a BPO contractor to literally go from St.Cloud to Eau Claire for orders and if you don't have the staff or the ability they keep on moving- no loyalty that's for sure-
I get emails asking about turn time and price. A wide range of areas that I work and don't work in. I answer the ones I want to do. It's steady, no increase and no decrease. As far as the cma's, these are used for photos so the out of market listing agent can list in the local MLS.
I have to agree with Joey on this organization being a leader in the REO world. The fact that they "acqusition" every thing in their wake is proof positive. Taking over platforms and bankrupt lenders is just the tip of the ice berg I'm sure.
I believe being an active agent within the network will eventually pay off.
My sources within tell me they are using some sort of hybrid Trulia/Zillow/ + desktop AVM to do a BPO and they will need a real agent to do a Interior CMA...we will all see how long that lasts
ATX, that explains it, I'm not surprised...If their list price comes in anything close to their "reconciled" BPO price, they are in trouble..
In MN I am seeing orders/requests in my area daily from Altisource. Exterior orders and CMA's. Some are email blasts and some are personal calls or direct emails. I know that a few months back they changed to a grade system on the fees you ask for, time and quality of the order. I have not seen much of a change in flow here.
When you get a personal call you know they are having trouble getting it assigned.
That's when you can name your price.
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