Greetings Everyone!


I was contacted by Banker REO to sign up for BPO and REO Assignments, for a $345 annual membership fee.  I didn't find any posts for this company, so I thought we better get this one out there!  I did a WHOIS search for this company's website and it shows that it was created on June 14, 2011, and they are based out of Illinois ... the same state as the infamous Absolute REO!  There website address is:  Does anyone have any experiences that they would like to share with this one?


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  • Hi REOPro Community,


    Well, as you can imagine, I have had a complaint from Banker REO about this forum thread. I will post my reply to the complaint here so that all of you can read it. I will omit the name of the person I am communicating with out of consideration. I have also took out some other pieces that, again out of consideration, felt that you don't need to know. The purpose of me posting this email is to give each of you some insight on just how powerful your fourm post are and.....well, your potential liability in what you say. For more information on blogger rights, I challenge each of you to visit, I have found it to be an incredible resource for me so that I can legally protect myself and I strongly suggest you do the same.

    Email Quote----Starts Here---

    First off, let me start by saying I am a bit offended by your final comments in the email below. For this reason, I decided to respond to your email so I can set the record straight. Granted, I don't believe you meant to be offensive however, you may have....I don't know but, it's going to give you the desired effect none the less with a response. 

    Q: Why don't you, as a "community" leader and the moderator of these forums, give people better direction… To post about something they actually know about.... Wouldn't that give credibility to your site... Wouldn't it make all this far more relevant and helpful?  Wouldn't that make REOPro a true resource to the agents?"

    A: Time.....I just don't have the time. As you may know, I myself am a Realtor and am busy. To put this in perspective, this month alone I am closing 9 transactions. To be specific, these are my transactions...not my teams. In other words, these are 9 deals that I have and maintain. Now, my team is scheduled to close 4, maybe 6 by end of this week and on those transactions I supervise them. So, all in all, this month alone, I am managing approximately 15 transactions. Now, granted, the average Realtor per NAR only closes 3 transactions a year and yes, you may be very accustomed to working with these types of Realtors who have all the time in the world but, that just simply isn't me.

    A: As for the "give people better direction", I am in no place to make or give direction on their Freedom of Speech. At times, I have had to shut down a forum or even expel a member due to distasteful, degrading and even lewd behavior however, short of that, I do everything I can to stay out of the fray because I don't want to impede anyone's rights as it
    pertains to their Free Speech.

    Q: As for "To post about something they actually know about..."

    A: Well, would be nice if I knew before someone posted something that the someone making the post actually knew what they were talking about......hell, that would be a super power I would love to have, imagine what that could do for my How on Gods green Earth can I do that? Are you suggesting that before every single post, I should review it, call the parties, do a back ground investigation on the issue, make a conclusion and them enforce a judgment? Name one....just one, forum that has the staff and resources to do such. That is completely impossible.

    Q: Wouldn't that give credibility to your site... Wouldn't it make all this far more relevant and helpful? Wouldn't that make REOPro a true resource to the agents?"

    A: Ok, is where I got offended and maybe I am a bit too sensitive considering REOPro is more my opus than a career but, let me give you some information because, obviously you don't know how valuable REOPro actually is.

    1. REOPro SEO Rank is top 10 across almost every single search engine in the country and believe it or not.....we have actually seen SEO ranking rise in foreign countries predominately in South America and Southeast Asia.

    2. REOPRo, to the best of my knowledge is the only Social / Professional online network strictly dedicated to the default real estate industry. I do know of other networks however, they also support other industries within real estate like traditional transactions, mortgage lending....just to name a few.

    3. REOPro is a key organizer in one of our industries only Summit and Expo conference in 2012. We have provided our members with incredible opportunities for VIP access to all events and much more.
    4. REOPro averages about 15 new members daily.

    5. REOPro has 1,327 blogs, 1,536 forums, 131 Specialty Groups and as previously mentioned tens of thousands of threads.

    6. REOPro has partnered with some of our industry's most successful companies, ..........and many others.

    7. Our member roster includes, Agents, CEO's, Vendor Managers, Special Servicers, Asset Managers, Loss Mitigation Officers, Property Preservation Specialist....and other default professionals.

    8. REOPro launched   this year, a listing database and lead generation source for our members

    9. REOPro's BlogTalkRadio Show has recently, in the last 2 months interviewed .........

    10. And to round it out with a top 10......REOPro's average return of visitor blows are closest competitor out of the water. In other words, our members return, they keep coming back

    So, to end this email before it starts to get way too long, I want to focus on a truth. The truth of the matter is, what you are really complaining about is defamation. Now, I am no attorney and my advise should not be considered legal advice however, in my humble non-educated opinion, defamation seems to be the crutch of your issue so, if you feel someone has made a false or unprivileged statement, that is the said something when not knowing the facts of the matter and, what they said was harmful to your reputation and they published it online........then you should contact that person, ask them to remove their posting or potential face legal action. Absolutely under no circumstances do you or your company have to be victimized over and over again however, it's your responsibility to stop the abuse, no one else's.

    All in all, I can't and, unless given reason beyond a shadow of a doubt, will not intervene in online disputes between parties simply because "he said, she said". If you are a victim, if your company is a victim then I implore you to take the legal action necessary to stop the abuse. Each and everyone on REOPro has the ability to delete or even edit their post....for
    the life of the post so, with a well written letter, you should be able to take care of any defamation and, slander on your own with the proper authorities.


    As a courtesy, I will go onto the forum and remind everyone
    about their potential liability and as a courtesy, I will prevent any further

    Legal Guide for Bloggers
    Whether you're a newly minted blogger or a relative old-timer, you've been seeing more and more stories pop up every day about bloggers getting in tr…
  • Thanks to all for the information.

  •  Same story for me in September that you described. I called the next day to cancel my membership as the "Listing" turned out to be a BPO which  I never do BPOs as I  decided  two years ago will not  pay for my time. Thus, I refused to accept and requested a refund. After 30 days of haggeling by telephone and e-mails  promises were made to correct and refund my charges, I received an e-mail and a telephone call from Gary of BankerREO that confirmed they would make a refund on my credit card today (Nov9, 2011.)  I had sent a registered letter to BankerReo that requested the refund with details of the requests. I also sent the same to my credit card agency along with supporting e-mails and copies of complaints as found in web sites such as these. I am assuming that BankerREO will carry through this time.

  • I got the call last night around 8:30 PM EST for me. Strong Jersey accent with the same story as everyone else. When I called him out on this, he became very aggressive and disrespectful. I finally hung up on him.

    • heres a link from earlier page, it says it all, absreo and bankers reo same


       in the State of Illinois corporate records and it appears that Absolute REO and Banker REO are one in the same.  At least they both have the same registered agent, a man by the name of ALEXANDER NAROD.  Here is the links to search the corporate records



  • almost just got me, same lingo, as i was having him go through his speil , i was seraching online, they are the same, i never got my money back from absreo , and i got a email from an anynomous person saying that absreo was a gruop of russian scammers and it might be dangerous to pursue any action against them, really???, is this how bad its getting, well attorney general of illionois will be glad to know theres another one ! unreal. ive been reo agent for 15 years and i thought i have seen it all.

  • just several hours ago i reieved a call from matt rydel(frankies son) he spieled away at how my record for reo work was so great and on and on ,i knew it was scam but i was in the mood to goof on him,had him send all the forms to my gmail acct he said he had comcast as my email, after filling them all out of course no credit card ,i sent them to his attn ,i,m sure i will hear from him in am ,iam going to ask him to pick me up at airport as i want to come to see my son in area close byand will pay them in cash ,plus i will get to meet aall the aset mgrs jut like i did with aout 7 other asset cos i have done buiz with in past ,i report back but they are probably monitoring this site also

  • I was just contacted by them this afternoon.  Thank God for this blog.  I was not willing to pay the $349.00 without concret information on the BPO and ultimate listing they promised. 
  • On October 25, I signed up on their website.  First I went through the site and I couldn't anything regarding fees, but at the end of the signing process there was an icon displayed that said 'Buy Now".  At that point, I closed my browser. The following day, October 26, at 10:35am, I got a call from Banker REO asking me to pay $349, that my first assignment was on its way. I asked him what kind of assignment and he said a listing.  So I told him I was going to think about because I did not expect to pay anything. I cut off the communication and started my research on google.  That is how I came accross this forum.  Thank you for saving my $349.
  • I am trying to get a refund. Same spill as you described.  Absolute got me last year, too. I was promised a listing in my zip code 94592 and there was nothing there on the web site after I signed in. I called to ask where the listing was and was told it would show up in 3 days. I immediatley asked for a refund. Next day I had a BPO notice in  my e-mail. (I don't do BPOs) in my office zip code 94553 which is 10 miles and a toll bridge away. I called again and asked for a refund. Promises were made but a month later no change. My credit card company said to give them 60 days. Latest e-mail to BankerReo went unanswered.  Still working on resolving.
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