BPO work seems to have dried

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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  • I have taken to bidding all the companies. I won't work for what I did 20+ years ago. I can accommodate fewer orders if the price is raised.
  • checkout https://www.rrreview.com/ lots of $50 exterior $75 Interior . They are a from for Select Portfolio Servicing
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    • In my area they are all $40. The form isnt too bad, their QC is extremely picky. They are one of those companies that suggest other comps for your report, most of which are just terrible.
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  • 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.
    • 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.
    • What companies are you getting bpo business from? Any suggestions?
  • 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.
  • You might want to look up BPOFulfillment. I believe it was the one that had the class action lawsuit against it.
  • I am in NYC, I get bpos daily.
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