Forum

REO Vendor Management...Good? or Bad?

Posted by David L. Hennigan on June 2, 2010 at 5:50am in Sample Title

I have done BPOs for Equity point and today they have invited me to join their REO Network. They require us to be a member of Equator (which I am) and REO VM (which I am NOT but it has a $199.95 annual fee).

I would appreciate any feedback on both Equity point and their REO's and also on REO VM. Anybody get listings on this forum?

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Replies

  • John A Walker July 2, 2010 at 8:49am
    I thin k it is a rip off. Old Republic requires us to be memebers of REOVM also, plus we must take course, and I am sure they cost somthing. have you ever gotten listings from equity pointe?
    • Rose Mencia > John A Walker July 3, 2010 at 12:22am
      zip--nada- nothing, from nobody..... live and learn... never again... at least the bpos ( old repub) give back a little redemption......Equity point has sent over 2-3 bpos in the last couple of months..... also a big Zero........like the economy.... will be a slowwww recovery.....lolololol!
  • Rose Mencia June 30, 2010 at 11:32am
    I pd for it about 2.5 months ago.... nothing yet.....but my Old Republic bpos covered it already... so..... I just wait..lolol Rose
  • Margaret Loudermilk June 29, 2010 at 2:02pm
    Hi David,

    I just got 5 new listings earlier this month from Equity Pointe ( had never worked with them before & received a call out of the blue). The listings are fannie mae/homepath properties. They found me on Equator & I did have to sign up for the REO VM. So far so good. I have picked up several new clients on Equator in the last 6 months. I am a member of Resnet & paid additional for AMP but have not heard a single thing from them in 6 months. I have been on Equator since 2008. Needless to say I love Equator & their platform.
  • Roddie Antonijevic June 2, 2010 at 12:15pm
    I paid for it and have not received any return on investment. Nothing from ORDMS or Equity point. Supposedly Penny Mac is their next would be client. Unless you have a working relationship with the companies that use their "Service", I would say probably not worth it.
  • Amber Fleming June 2, 2010 at 10:54am
    I have done a few bpo's for them and they pay fine. I haven't received any REO's from them yet and it has been about 4 months. They found me on equator and didn't have an agent in my area. I will let you know what happens. They did not ask me to become a member of REO VM though.
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