Forum

BPO work seems to have dried

Posted by Belinda Agosto on December 5, 2023 at 9:26am

Since 2021, I've noticed the BPO business slowing down.  Then BPOFulfillment became Radian and they charge $200/year to the "privilege" to do their BPOs.  Now it seems the how industry just died!  Anybody getting a good amount of BPOs lately?

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Replies

  • Barbara Eisman February 7, 2024 at 10:48am
    I wouldn't give Radian or whatever they want to call themselves a dime for their BPOs. They have the worst forms in the business. BPOs in my area, Metro DC, are booming. In October and November 2023, BPOs were slow.
    • James Tidwell > Barbara Eisman February 7, 2024 at 11:43am
      Yes, I had read that people behind 90 days or more on their Mortgage,s were at an all time low during Oct-Dec 2023. I noticed a slowdown in my area as well. It has been forecasted by people in the industry to come back up this year, due to Forebearance programs ending, and people maxing out their credit cards. There is also a high number of car repos going on, which is also a sign.
    • Belinda Agosto > Barbara Eisman February 7, 2024 at 11:09am
      What companies are you getting bpo business from? Any suggestions?
  • James Tidwell February 6, 2024 at 5:18am
    REO have been forecasted to start increasing starting with the 1 quarter of this year 2024, from one of the panel members at 5 Star, so BPO should increase as well! I Never underestimate the Mortgagors ability to get behind on their Mortgage and create BPO work for me.
  • June T Valora January 1, 2024 at 5:26am
    You might want to look up BPOFulfillment. I believe it was the one that had the class action lawsuit against it.
  • Karen Gray December 20, 2023 at 6:54pm
    I am in NYC, I get bpos daily.
  • Paul Weston December 18, 2023 at 5:20pm
    Haven't done any BPOs for Radian/BPOFullfillment for a while. Mostly Clear Capital, AVM. Mostly been doing BPOs for people wanting to drop their PMI. They are interiors but the upside is that you are going into homes that have upgraded/rehabbed. Much more positive experience since the owners love to brag about what they are done to them and you see the latest trends. Also started doing commercial BPOs. Lot more work but more money. Not sure what happened to LRES. There are a few smaller companies I do them for, but the volume is low.

    Overall, these companies come and go.
  • CECILIA D FOX December 15, 2023 at 5:22am
    It's always relevant to note where you are located. I'm in Akron Ohio. I haven't had large numbers of BPOs in years. Our foreclosures have been way down for probably 6 or 7 years coinciding with huge rent increases.

    That said, I am at the stage where I won't take any less than $50 for a BPO and charge more for distances where I used to accept $50. I only have one loyal client left.

    On another note, isn't BPOFullfilment one of those companies shotgunning $35 BPOs? Or slow/never paid companies?
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