reo - Forum - REO Pro Network2024-03-29T13:22:40Zhttps://www.reopronetwork.com/forum/topics/feed/tag/reoWant to sell more homes in 2021- Do what I call- the Reverse REOhttps://www.reopronetwork.com/forum/topics/want-to-sell-more-homes-in-2021-do-what-i-call-the-reverse-reo2021-01-12T14:34:36.000Z2021-01-12T14:34:36.000ZATX | BPO Outsourcing & Capturehttps://www.reopronetwork.com/members/ATXBPOOutsourcingCapture<div><p>Happy New Year Everyone, </p><p> </p><p>Thank G*d, 2020 is over! </p><p>I know alot of us in alot of markets were adversely affected by the pandemic. In contrast the Realtors that pivoted their marketing and selling strategies did even better in 2020 than any prior years. </p><p><span style="text-decoration:underline;"><em><strong>TWO words- RURAL AND SUBURBAN!</strong></em></span></p><p>I know in markets like mine in NYC - urban dwellers fled to "hills" to larger properties and rethought the concept of living in the "cool downtown" areas. </p><p>You will need to start changing your marketing keywords to - Pool, 1+ Acres, Farm, Large Lot, and 45 other keywords (DM me if you need a full list) that trigger "BUYER INTENT"</p><p> </p><p> </p><p>2. <span style="text-decoration:underline;"><strong>REVERSE REO- what does that mean?</strong></span></p><p>What do I mean by that- Well its becoming evident that large institutions, private equity, hedge funds are gobbling up SINGLE FAMILY HOMES like never before. You are going to see massive asset transfer in the next 2-3 years as the foreclusre dust settles on the effects of the pandemic. Moritoriums will expire soon and the banks will start foreclosing on the millions of homes of the people who can't pay their respective mortgages. This is once again an opportunity unfortunately bigger than the 2008-2010 mortgage bust. I would reach out directly to Asset Mangers at large buyers. </p><p><span style="text-decoration:underline;"><em><strong>BUYERS like who?-</strong></em></span> Americanhomes4Rent ( let me know if you need numbers to their offices) , Blackstone, Goldman Sachs, etc and sell these properties directly to them -</p><p><span style="text-decoration:underline;"><em><strong>What are they looking for?</strong></em></span> Properties that are in good areas and carry good rent rolls and analysis of properties that are CLOSE to their current assets. This way you with "boots on the ground" and their "eyes and ears" and become a indispensible resource instead of a COMMODITY. </p><p> </p><p>3. Make no mistake there is going to be a boom in property for the next five years- all the fundamentals are aligned - are you ready?</p><p> </p><p>4. DM me on LinkedIn and I would be more than happy to share my contacts in my network as a introduction to some AM's in my Rolodex ( for Millenials - that was your contacts in you iPhone...) </p><p> </p><p>5. Lets all share our ideas in 2021, hats off to Jesse, he has really done a great public service by keeping this blog going! </p><p> </p><p>More to follow in 2021- I'm Back! </p><p> </p><div dir="ltr">Joey P Singh Bhalla</div><div dir="ltr">ATX BPO</div><div dir="ltr">Media9Group.com<br />Bytacoin Bytpay Technologies LLC </div><div dir="ltr">Made in NYC <br />Business Development </div><div>sales@media9group.com</div><div dir="ltr"><div><br />1 917 859 4400 Direct<br /><a href="http://www.linkedin.com/in/joeysingh" target="_blank">http://www.linkedin.com/in/joeysingh</a> </div></div></div>Five Star Force- REO Listing Assigmentshttps://www.reopronetwork.com/forum/topics/five-star-force-reo-listing-assigments2018-07-23T17:55:58.000Z2018-07-23T17:55:58.000ZHugo W Mezahttps://www.reopronetwork.com/members/HugoWMeza<div><p>I keep getting emails from Five Star stating they give listing assigments. Any member from here received assigments?</p></div>Realty Pilothttps://www.reopronetwork.com/forum/topics/realty-pilot-22018-04-17T17:22:20.000Z2018-04-17T17:22:20.000ZGillian Kayhttps://www.reopronetwork.com/members/GillianKay<div><p>I have been getting several emails from Realty Pilot recently, has anyone worked with this platform?</p><p>I did have an asset manager find my info on their years ago but I did not pay, has anyone had luck with getting assignments?</p></div>Agent Elite on Equatorhttps://www.reopronetwork.com/forum/topics/agent-elite-on-equator2018-04-13T00:11:14.000Z2018-04-13T00:11:14.000ZLinda McKissickhttps://www.reopronetwork.com/members/LindaMcKissick<div><p>I am part of the Agent Elite program on Equator. My question to other AE members is are any of you still receiving the REO Property Alerts and/or Market Update reports in your personal email?</p><p>I have not received any for over 6 months and when I inquired to Equator they told me they no longer email them out, which does not make any sense because that is not what they marketed to me and I purchased.</p><p>Wanting to here if others are also not receiving the REO Alerts any more. Thanks! Linda</p></div>Denver Opportunity: Looking for Experienced Property Manager / REO Agent in the Denver Area.https://www.reopronetwork.com/forum/topics/denver-opportunity-looking-for-experienced-property-manager-reo2017-11-13T18:09:32.000Z2017-11-13T18:09:32.000ZScott Olson - REO Sacramento, CAhttps://www.reopronetwork.com/members/ScottOlsonREOSacramentoCA<div><p>Looking for Experienced Property Manager/Agent in the Denver Region. Experience in REO is a plus.</p><p>Hiring for a New Manager for an Existing Portfolio.</p><p></p><p>Please let me know if you or anyone you know might be interested in finding out more about the position.</p><p></p><p></p><p></p><p></p></div>United Default Managementhttps://www.reopronetwork.com/forum/topics/united-default-management-12017-09-07T21:49:45.000Z2017-09-07T21:49:45.000ZChris Butterfieldhttps://www.reopronetwork.com/members/ChrisButterfield<div><p>Hi All,</p><p>I just got a sales call from United Default Management. </p><p>They want $549 for 3 counties. Their business plan is to send me to do BPOs on homes that have NOT been foreclosed, but instead are in PRE-FORECLOSURE (which is every home with a mortgage, in my opinion, PRE simply meaning BEFORE, haha).</p><p>I have heard this song before. And have even paid for a few (insert embarrassed face emoji here).</p><p>Before I say anything negative about a company I don't know much about, has anyone heard anything, had any dealings?</p><p>On the sales call there was a screener, then an "asset manager." He didn't know the difference between pre-foreclosure and foreclosed. I asked if these were directed short sales and he didn't even understand what I meant. Their website is copyright 2017. New. And they are in Chicago, which is where a number of these scam companies are located.</p><p>I look forward to any info anyone has.</p><p>Thanks!</p></div>Paying the Banks Bills & Waiting to Be Reimbursed! NOT~https://www.reopronetwork.com/forum/topics/paying-the-banks-bills-waiting-to-be-reimbursed-not2017-05-05T21:13:55.000Z2017-05-05T21:13:55.000ZMaryanne Nicholshttps://www.reopronetwork.com/members/MaryanneNichols<div><p><strong><span class="font-size-3" style="font-family:terminal, monaco;color:#800000;">This might be a little</span></strong> <span class="font-size-3" style="font-family:terminal, monaco;">"</span>rantish<span class="font-size-3" style="font-family:terminal, monaco;">,"</span> <strong><span class="font-size-3" style="font-family:terminal, monaco;color:#800000;">but after having so many experiences paying expenses, and then having to jump through hoops to get paid back in a timely manner, I quit. Having to pay a tech fee, rebate commission back, and then pay up to $2500 or more at any given time per house is just BAD BUSINESS FOR AN AGENT. Especially, when they have every right to transfer the listing w/o explanation. Honestly, I don't see why they just don't pay these companies directly anyway. It would save time and money on their end. I tell them no! If they want to transfer the listing so be it!!!</span></strong></p><p></p><p><strong><span class="font-size-3" style="font-family:terminal, monaco;color:#800000;">Any thoughts, tips, or experiences you want to share? OH- PLEASE DON'T SAY ITS THE NATURE OF THIS BUSINESS. I got that!</span> </strong></p></div>ARRO Management Systemshttps://www.reopronetwork.com/forum/topics/arro-management-systems2017-03-03T22:10:32.000Z2017-03-03T22:10:32.000ZLouis Fontainehttps://www.reopronetwork.com/members/LouisFontaine<div><p>Is anyone getting business for this company?</p></div>Are any REO companies hiring?https://www.reopronetwork.com/forum/topics/are-any-reo-companies-hiring2017-01-22T14:29:56.000Z2017-01-22T14:29:56.000ZCarlos Cardenashttps://www.reopronetwork.com/members/CarlosCardenas<div><p>Hello everyone, do you know of any banks or companies that are accepting new brokers?</p></div>St Cloud, MNhttps://www.reopronetwork.com/forum/topics/st-cloud-mn2016-12-07T14:58:15.000Z2016-12-07T14:58:15.000ZJennifer Hupkehttps://www.reopronetwork.com/members/JenniferHupke<div><p>Asset manager of mine looking for assistance in St Cloud, MN, anyone interested?</p></div>City of Portland Oregon to Foreclose via new Ordiance on "Zombie" homeshttps://www.reopronetwork.com/forum/topics/city-of-portland-oregon-to-foreclose-via-new-ordiance-on-zombie2016-06-16T16:05:30.000Z2016-06-16T16:05:30.000ZAdam Zagelhttps://www.reopronetwork.com/members/AdamZagel<div><p>The City of Portland is tired of Banks not foreclosing on homes and letting them fall into disrepair, squatters and some burn down. Now the city is looking to enact new city ordinances that will allow the city to Foreclose on homes before the bank does and then sell them on the open market. Sounds like Detroit and one other city started doing foreclosures during the recession. See article link below. </p><p></p><p><a href="http://www.opb.org/news/article/portland-abandoned-zombie-homes-foreclosure-start/">http://www.opb.org/news/article/portland-abandoned-zombie-homes-foreclosure-start/</a></p></div>How to get REO listingshttps://www.reopronetwork.com/forum/topics/how-to-get-reo-listings2016-05-10T00:01:21.000Z2016-05-10T00:01:21.000ZRJ Davenport IIIhttps://www.reopronetwork.com/members/RJDavenportIII<div><p>I have been searching high and low in the internet with little success of how to obtain these listings. Is there anyone out there who is getting assigned REO listings and is willing to share HOW you can get in a pipeline to start getting assigned REO listings..Specifically how and who do you need to talk to or sign up with??? Thanks</p><p></p></div>Res.Net feedbackhttps://www.reopronetwork.com/forum/topics/res-net-feedback2016-05-06T00:31:30.000Z2016-05-06T00:31:30.000ZRJ Davenport IIIhttps://www.reopronetwork.com/members/RJDavenportIII<div><p>Has anyone used res.net and been successful ?? I just signed up with them and paid for the plus membership and i'm a little nervous about if they will pan out..I don't expect the floodgate to open and be inundated with listings but I would like to see some activity...Can anyone share some insight on what your experience has been with them?</p><p></p><p>Thanks</p><p></p></div>The Most Used Transaction Management Platform By Foreclosure Agentshttps://www.reopronetwork.com/forum/topics/the-most-used-transaction-management-platform-by-foreclosure2016-02-01T01:36:28.000Z2016-02-01T01:36:28.000ZAlan Fennhttps://www.reopronetwork.com/members/AlanFenn<div><p><a href="http://ebrokerhouse.com" target="_blank">eBrokerHouse.com</a> is the most used transaction management platform for real estate agents that manage REO and short sale listings. We have facilitated over 750,000 offers and our users have closed over $20 Billion worth of listings managed on our platform. </p><p>I welcome any agent reading this that has not used our system before to check us out and see why eBrokerHouse is the system of choice of among foreclosure agents. Your are able to manage all listing types with eBrokerHouse plus manage buyers, tasks, offers, showings, reimbursements, BPOs, maintenance, utilities, inspections, document storage, team collaboration and more.</p><p></p><p></p></div>RES.NET Banner Adshttps://www.reopronetwork.com/forum/topics/res-net-banner-ads2016-01-07T18:15:40.000Z2016-01-07T18:15:40.000ZAdam Zagelhttps://www.reopronetwork.com/members/AdamZagel<div><p>I had to get back on Res.net this year due to one of my clients sent an REO to me. That's great but my question is has anyone had any success advertising with the Banner Ads per zip code?</p><p></p><p>I was going to do two zip codes I know that still have a bunch of bank owned homes left in them for three months to see what happens. </p><p></p><p>Thanks.</p></div>New to REO & BPO's, where should I start?https://www.reopronetwork.com/forum/topics/new-to-reo-bpo-s-where-should-i-start2015-12-15T23:52:06.000Z2015-12-15T23:52:06.000ZJay Armbrusterhttps://www.reopronetwork.com/members/JayArmbruster<div><p>I've been a Realtor in Milwaukee WI for over 11 years and I've been a buyers agent on many REO properties but I've never tried to market myself for REO listing or BPO's. The winters are long in WI and the market slows down considerably so I'm looking to keep busy.</p><p></p><p>My question is, what are the best companies to work for? Free or with monthly subscriptions. Which companies should I avoid? Any help would be greatly appreciated!</p><p></p><p>Thanks in advance!</p></div>US Bank National Association in Owensboro, KYhttps://www.reopronetwork.com/forum/topics/us-bank-national-association-in-owensboro-ky2015-11-10T18:49:53.000Z2015-11-10T18:49:53.000ZCynthia Loganhttps://www.reopronetwork.com/members/CynthiaLogan<div><p>Does anyone know the asset management company that handles their REOs? Have one coming up in my area. Thanks in advance.</p></div>REO Companies?https://www.reopronetwork.com/forum/topics/reo-companies-12015-10-08T16:08:10.000Z2015-10-08T16:08:10.000ZRoy Gossetthttps://www.reopronetwork.com/members/RoyGossett<div><p>10/8/2015</p><p>Could you advise me the best method to get on the REO Companies List for Asset Managers? Thanks...</p></div>Contacting homeowners off the BPO valuation solicitations?https://www.reopronetwork.com/forum/topics/contacting-homeowners-off-the-bpo-valuation-solicitations2015-08-20T14:56:42.000Z2015-08-20T14:56:42.000ZChristine Frank Fuenteshttps://www.reopronetwork.com/members/ChristineFrankFuentes<div><p>This is simply a query, folks. We all receive so many BPO valuation requests - I rarely do them anymore because of the low pay and time involved. HOWEVER - is there anything to prevent us from contacting those homeowners to begin a real estate relationship? We know that although some are just re-fis or something innocuous, several will be for pre-foreclosure purposes. What do you folks think about our using that list as a lead list?</p></div>Absurd BPO QC requested corrections . . really makes one wonder . .https://www.reopronetwork.com/forum/topics/absurd-bpo-qc-requested-corrections-really-makes-one-wonder2015-07-21T17:56:41.000Z2015-07-21T17:56:41.000ZDanish Maqboolhttps://www.reopronetwork.com/members/DanishMaqbool<div><p><span class="font-size-3"> </span></p><p><span class="font-size-3"> So, BPO scorecards were sent out last week . . and I am positive more than a handful of agents have seen a decrease in their overall scorecard. Normally, it is in fact the agent's fault; however, this last quarter seemed to have been notorious for bogus QC correction requirements. The requested corrections really make me wonder if those performing the QC have any idea what they are even doing. I mean, the engagement letter clearly states to follow BPOSG guidelines, but when they send you corrections, they request anything but.</span></p><p><span class="font-size-3" style="color:#000080;">Here are just a few of the crazy corrections I've been asked to make this quarter . . Along with my response. (I feel as if I am training them on how to perform their own job).</span></p><p></p><p><strong><span class="font-size-3">Has anyone else been having issues with QC/Corrections lately?</span></strong></p><p></p><p><span style="text-decoration:underline;"><span class="font-size-5"><strong>Example 1:</strong></span></span></p><blockquote><p><span style="color:#0000ff;">“It appears an adjustment was not made for Total room for Comp 3 Listing 1,3 even though it differs from the subject property. Per your engagement letter please provide commentary stating why an adjustment was not necessary.”</span><br /></p></blockquote><p><span class="font-size-4"><strong>(My Response)</strong></span></p><p><span class="font-size-3">If you adjust per individual room, you cannot again adjust for the total number of rooms as this would be a double adjustment. Example:</span></p><ul><li><strong>Subject has 3 beds and 1 bath (7 total rooms due to living, dining and kitchen)</strong><ul><li>Comp 1 has 4 beds and 1 bath (8 total rooms) No adj needs to be made because it falls within BPOSG guidelines</li><li>Comp 2 has 5 beds and 1 baths (9 total rooms) adjustment should be made for bedroom only</li><li>Comp 3 has 5 beds and 2 baths (10 total rooms) so, adj should be made for individual bedroom, but not for bath as the bath falls within the guidelines.</li><li>Comp 4 has 5 beds and 2 baths and a den (11 total rooms) adjustment is made for 1 bed and now an adjustment can be made for total room count</li></ul></li></ul><p>I hope you follow. If you were to adjust for 1 bedroom and then make another adjustment to the total, you are basically making 2 adjustments for the same room</p><p></p><p><span style="text-decoration:underline;"><span class="font-size-5"><strong>Example 2:</strong></span></span></p><blockquote><p><span style="color:#0000ff;">We request that you address the below conditions as your report has not passed through our Quality Control review. Please make the requested corrections and resubmit your revised report within 4 business hours. </span><br /></p><ul><li><span style="color:#0000ff;">Adjustment has to be made in Sq. ft above grade for sold comparable 1 & 2 and listed comparable 1, 2 & 3, since it does not fall within the guideline of +/- 100. Please revise and update.</span></li><li><span style="color:#0000ff;">Adjustment has to be made in the bedroom section for listed comparable 1, since it does not match the subject property. Please revise and update.</span></li><li><span style="color:#0000ff;">Adjustment has to be made in the full bath section for listed comparable 2, since it does not match the subject property. Please revise and update.</span></li><li><span style="color:#0000ff;">Adjustment has to be made in the garage section for sold comparable 1 and listed comparable 1, 2 & 3, since it does not match the subject property. Please revise and update.</span></li><li><span style="color:#0000ff;">In the Parking stall section, please update the parking stall count as 1 for the subject property and sold comparable 1 & 3.</span></li></ul></blockquote><p><span class="font-size-4"><strong>(My Response)</strong></span></p><p><span class="font-size-3">Please find the attached BPOSG guidelines and verify the information I have provided you below. I feel as if the majority of the adjustments you have asked me to make were unnecessary as well as unjustifiable.</span> </p><ol><li><strong>Adjustment has to be made in Sq. ft above grade for sold comparable 1 & 2 and listed comparable 1, 2 & 3, since it does not fall within the guideline of +/- 100. Please revise and update.</strong><ul><li>Per BPOSG Guidelines, if the subject property falls between 0-1000 SF, the comps should be within ß250SFà or +/- 25% which in this case is 222SF<ul><li>Sold Comp 1 is 749SF. That is 139SF less than the subject. This falls within both BPOSG parameters.</li><li>Sold Comp 2 is 966SF. That is 78SF more than the subject. This falls within both BPOSG parameters.</li><li>List Comp 1 is 1043SF. That is 155SF more than the subject. This falls within both BPOSG parameters.</li><li>List Comp 2 is 1169SF. That is 281SF more than the subject. This is 30SF more than BPOSG Parameters and Adjustment will be made.</li><li>List Comp 3 is 1007SF. That is 119SF more than the subject. This falls within both BPOSG parameters.</li></ul></li></ul></li><li><strong>Adjustment has to be made in the bedroom section for listed comparable 1, since it does not match the subject property. Please revise and update.</strong><ul><li>Per BPOSG Guidelines, the # of bedrooms that may differ from the subject is +/- 1<ul><li>List Comp 1 has only 1 more bedroom than the subject. This falls within BPOSG parameters.</li><li>Also, the tax record for the subject property did not reflect a definitive number of bedrooms. The bedroom count was calculated by using the square footage of the property and comparing the GLA to that of properties with similar square footage within the subjects immediate neighborhood.</li></ul></li></ul></li><li><strong>Adjustment has to be made in the full bath section for listed comparable 2, since it does not match the subject property. Please revise and update.</strong><ul><li>Per BPOSG Guidelines, the number of bathrooms that may differ from the subject is +/-1<ul><li>List Comp 2 has only 1 more bathroom than the subject. This falls within BPOSG parameters.</li></ul></li></ul></li><li><strong>Adjustment has to be made in the garage section for sold comparable 1 and listed comparable 1, 2 & 3, since it does not match the subject property. Please revise and update.</strong><ul><li>I am at loss as to why you feel Sold Comp 1 should be adjusted. Judging by your instructions to adjust all three listed comps, I would think you meant Sold Comp 2. In any case, as stated in the comments,</li><li>In regards to List Comp 2 and List Comp 3, it seems as if it would make no difference if adjustments were made as the subject property’s carport is a detached carport that appears to be of little or no added value. The tax records do not even reflect the subject having a carport or parking garage. The “carport” seen during the interior inspection looked as if it has been constructed by an amateur who did not use quality materials. This is also a detached carport that, although is legally an appurtenance, hardly adds value to the property.</li></ul></li><li><strong>In the Parking stall section, please update the parking stall count as 1 for the subject property and sold comparable 1 & 3.</strong><ul><li>None of the properties have “Parking Stalls”. A “Parking Stall” is a designated parking area, commonly within two painted lines. For example: When you go to a grocery store or shopping mall, the parking spaces are considered “parking stalls”. No changes need to be made.</li></ul></li></ol><p><span style="color:#0000ff;"><strong>QC final response: </strong></span></p><blockquote><p><span style="color:#0000ff;">Hi, </span><span style="color:#0000ff;">I do accept your justification for all the rejections that I have sent you. But for the Garage section please update the below mentioned comments in the comments section for the subject property.</span></p></blockquote><p> </p><p><span style="text-decoration:underline;" class="font-size-5"><strong>Example 3:</strong></span></p><blockquote><p><span style="color:#0000ff;">Hello, I apologize. When did you get this error message? We were seeing this error last week and on Monday. It looks like the order is in a hold revision status. Can you see if you can correct what is needed and resubmit?</span></p><p></p></blockquote><p><span class="font-size-4"><strong>(My Response)</strong></span></p><ul><li>In regards to population density, a good example would be Dallas. The site automatically has urban when more than half of the areas in Dallas are actually suburban. This creates info problems and with the majority if not almost all of the comps not meeting what the site says, it seems to overwhelm the site and ends up freezing.</li><li>The engagement letter states to follow BPOSG guidelines, but the parameters on the website do not reflect BPOSG guidelines. So, when I attempt to submit a completed order, I have to provide an explanation for every single field before I can even submit the order. Lately, I have even been receiving corrections due to this as well.</li></ul><p>I have no issues with providing explanations so long as my score is not affected. In regards to website functionality issues, that is beyond my control. Hopefully with the above info, the respective departments can take necessary actions to resolve the issues</p><p></p><p><strong><span class="font-size-3">If anyone else has been witnessing the same, please share! Sometimes I have to step back . . take a deep breath . . and just laugh at things like this ;)</span></strong></p></div>24 Hour Asset Managementhttps://www.reopronetwork.com/forum/topics/24-hour-asset-management2015-04-16T23:13:15.000Z2015-04-16T23:13:15.000ZTheresa Granthttps://www.reopronetwork.com/members/TheresaGrant<div><p>Does anyone have experience with 24 Hour Asset Management? I have had three properties assigned to me by them in the past 2 years. One was a vacant lot that they immediately put into auction status and sold, which was nice. The other two have been in my inventory for up to two years with no movement. One is in perpetual eviction, and the other has never been on market but is now being gifted to a veteran's charity. My problem is the one going to the charity. I have almost $1,700 in unreimbursed expenses on that one, all billed out through the LPS Desktop system. I have received one check for about $400, finally, last week, and it bounced! I emailed the asset manager who told me she was forwarding the email to accounting.</p><p>I'm tempted to take all utilities out of my name, and inform the asset manager that I'm liening the properties until I'm paid. My oldest unpaid expense is from 10/6/2014.</p><p>I googled the company and there are a few BBB complaints that come up, all with slow- or no-pay on reimbursements. I know that "bad" gets more noise than "good" on the internet, so does anyone have any info on this company? </p><p></p><p></p></div>REO Listing companieshttps://www.reopronetwork.com/forum/topics/reo-listing-companies2015-03-30T16:11:40.000Z2015-03-30T16:11:40.000ZRobert Farmer, SFR, BPORhttps://www.reopronetwork.com/members/RobertFarmerSFRBPOR<div><p>Does anyone have experience in dealing with <em>Selene Financial</em>?</p><p>I have been dealing with them since last September on a potential listing that was a foreclosure. House was rented, had the tenants evicted after many difficult phone calls to them and their attorney. House is valued at around $600,000. Tenant moved out on March 1st 2014 and I had to have home winterized, put gas and electric in my name, had driveway plowed once because of lots of snow in NJ. Bids on repairs have been done and now they sent me an email Friday saying they are terminating our listing agreement and my relationship with this property. 6 months of running to the Townships, getting tax records, permit violation notices, etc. Many, many property inspection reports along with photo's of house over past 6 months.</p><p>I have been working for them for past 6 months for nothing. In fact, I have been paying all the bills and any inspection charges also. I feel that I will be reimbursed for my expense but even that remains to be seen. Any recourse? </p><p></p><p>Suggestions would be greatly appreciated.</p><p></p><p>Thanks in advance,</p><p></p><p>Robert</p></div>Do you remember 3% down payment mortgages? Well...they are back!! The Good and the Bad!https://www.reopronetwork.com/forum/topics/do-you-remember-3-down-payment-mortgages-well-they-are-back-the2015-03-26T15:50:08.000Z2015-03-26T15:50:08.000ZPam Maglionehttps://www.reopronetwork.com/members/PamMaglione<div><p><a href="{{#staticFileLink}}4360084135,original{{/staticFileLink}}"><img width="350" src="{{#staticFileLink}}4360084135,original{{/staticFileLink}}" class="align-full" alt="4360084135?profile=original" /></a></p><p>Home buyers and realtors both have leaned forward recently, paying attention and ready to pounce on the opportunity that Freddie Mac has yet again, brought to offer.</p><p> </p><p>If your a home buyer and have heard the news about Freddie Mac's Home Possible Advantage program, that includes a minimal 3% down payment for qualifying home buyers, then Yay!! Isn’t that great?!!</p><p> </p><p>What if you are a realtor, real estate agent, or lender? What do you think of this news? Many of us remember just 10 years ago, when these low down payment mortgages started defaulting, but unfortunately, many Americans forget quite quickly. We like instant gratification. We want something, and we want it now. We don't want to think too much about the future and the affects on our decisions today.</p><p> </p><p>We are hearing different opinions from the latter of the above peer groups. "Is the glass half full or is it half empty?"... for lack of a better adage.</p><p> </p><p>Well, some in the real estate industry are a bit skeptical. Yes, low rates and home buying affordability is important, but is the new "Freddie Mac's Loan Quality Advisor" enough to sift through all applicants and choose only the most credit worthy?</p><p> </p><p>One good thing about the new Home Possible Advantage is that the fixed rate mortgage is available for primary residences only. Yes, that helps, but is it enough?</p><p> </p><p>Since my crystal ball has been in the shop for many years, I would love to hear your opinion on this news and opportunity. Whether you are a home buyer, a realtor, or both. Tell us what you think.</p><p></p></div>DispoSolutions premium membershiphttps://www.reopronetwork.com/forum/topics/disposolutions-premium-membership2015-03-19T21:59:51.000Z2015-03-19T21:59:51.000ZSeth Nadreauhttps://www.reopronetwork.com/members/SethNadreau<div><p>Howdy gang,</p><p></p><p>I've used DispoSolutions in the past and although they were never the busiest portal, I always got a decent amount of work to justify the $300 fee.</p><p></p><p>In the past six months, I signed back up and have gotten a few BPOs out of them, but was wondering if anyone is still getting listing assignments through them. In your opinion, is it worth the $300 membership at this stage of the REO game?</p></div>Nationstar Lists a property offers 1% commission to selling agenthttps://www.reopronetwork.com/forum/topics/nationstar-lists-a-property-offers-1-commission-to-selling-agent2015-03-06T19:25:07.000Z2015-03-06T19:25:07.000ZStephan K Blackhttps://www.reopronetwork.com/members/StephanKBlack<div><p>Why would I want to list properties for Nationstar? They just listed a property in my local MLS, and are offering 1% to selling agent, list agent gets a whopping 1.75%, meanwhile they get 3% referral and get this, they charge a 5% premium of the purchase price to the winning buyer. Offering 1% to local realtors is not going over well, many pissed off realtors. Not only that, it despite what the BPO's said (at least mine and the listing agents) they underpriced the asset by at least 20,000. I say why not price it right and offer a commission that won't make agents hate you? </p></div>Fannie Maehttps://www.reopronetwork.com/forum/topics/fannie-mae-32015-03-06T14:50:15.000Z2015-03-06T14:50:15.000ZGerryPaganohttps://www.reopronetwork.com/members/GerryPagano<div><p>Hi everyone.</p><p>I have few question about Fannie Mae as far as getting accepted as a listing agent. Does anyone know if you have to have your broker LIC in order to be accepted?</p><p> Also if someone in your office already approved as listing agent. Can 2 agents be approved in the same office?</p><p>Can some that is approved list agent give any tips on how to get accepted as listing agent for Fannie Mae?</p></div>Messages/Approvals/Tasks that magically disappear in portalshttps://www.reopronetwork.com/forum/topics/messages-approvals-tasks-that-magically-disappear-in-portals2015-03-05T19:34:06.000Z2015-03-05T19:34:06.000ZJenny Erhardthttps://www.reopronetwork.com/members/JennyErhardt<div><p>So I'm putting some feelers out here...</p><p></p><p>Who out there has had a message/approval/task magically disappear in a portal and more specifically one that was controversial, wrong, or otherwise not something "somebody" would want the client or their management to see?</p><p></p><p>Obviously tasks tend to be deleted/modified/re-forecasted for many reasons and so that happens actually quite frequently for some, but what about the task that came out of nowhere that was so important and then was deleted or the task that they always said could never be skipped but then it just up and was gone one day.</p><p></p><p>I'd like to know what portals and situations people have seen this happen in.</p><p></p><p>I remember my first message that disappeared in Equator some years ago when I called out an error on the senders part (I was polite and helpful, but it made them look like they didn't know what they were doing) and so had begun my understanding that sometimes things just "disappear".</p><p></p><p>I started copying my screen so I don't find myself "in a predicament" but I'm not ALWAYS doing this as its simply laborious to do this. This keeps me anxious for "that one time" when it comes back to bite me. I want to see what other people's experiences have been, what they found out, why they think it happened, etc.</p><p></p><p>In an industry where everyone is tracked and graded anymore, I really would love to be a fly on the wall in the IT department to really see who has the keys to the magic eraser button when its convenient for them, because I certainly don't have one on my side of the portal...</p><p></p><p>PM me if you want. I'm all ears.</p></div>