Great advise by our In-house AM - Let's do this and see which companies pay the best and which ones don't - here's my list of good paysEMortgageLogicEqui-traxTitanium SolutionsFranklin CreditFASInc
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Equator is basically a platform that lenders use to track their REO's from foreclosure through sale. Several lenders such as BOA and Nationstar use Equator for that purpose only. Although most of the larger lenders already have a panel of agents they use on a regular basis, the asset managers themselves do compare the agent qualifications as published in Equator. Equator itself does not assign REO's to the agent, lenders who work with Equator actually choose the agent and do at times use the Equator resumes and certifications when choosing an agent. With the drop in inventory, If you do not have REO experience, it is difficult to get an REO listing from anyone, and none can guarantee you will get a listing. So if an agent is just signing up with Equator and paying for their certification to get listings forget it. However if you will be doing short sales (which in many areas are also declining), then BOA and several other large banks once again require registration with Equator, but in those cases, forget any certification. You can register for free and will stand just as good a chance of getting listings-slim.
James Mathieu > Lavina A. JacksonJuly 2, 2013 at 12:27am
I am a member of both Equator with Platinum certification and Resnet Ampro and all I have gotten from this is receipts for a business write off. I have been doing REO's for over 27 years and when LPS got out of the business and Corelogic backed off then add the sale of Litton, Aurora Loan Serviced and a few more than I can't remember my business has dived. Asset Management companies are very selective. Nationstar is very professional and great to work with when they have something for you. Alot of the Hedge Funds who bought properties too early are working on getting rid of propreties that they bought too high but alot of them need help because they came out running before they knew how to walk. I have never been an approved FannieMae agent even though I have temporary status I can not get full approval and would really like to acquire this but keep running into dead ends. IAS and BrokerPrice Opinion also owe me money since last October but I have the same story and results as everyone. Clear Capital,LPS, Landsafe, RRRieview,FAS,Meridian are good BPO companies that pay
Becareful with LPS because they will set up to be the bad guy and then drop you. I worked with them for 3 years doing a lot of BOFA's. They constantly are asking you to change out comps for their closing company Landsafe. I guess their reps got tired of me not wanting to break the law to make a commission, so they made up a couple of stupid excuse that because I had a slightly different digital signature on my last report and or used someone else's MLS photo (which I never did) and gave them proof of it from my own camera saved file said it when and created from. The original signature they got was from an old NAR card and when I signed my new NAR it was just a smig different and it even looked as close as the one I had on my drivers license that has not been changed for decades. Really, who cares what my signature looks like, as long as I'm the one who did it... Right.
Maybe we should all just ask IAS for the amount they owe us so can be sure and deduct that from our earnings and keep the IRS Happy and put them on IAS trail.
Jay Pegram > Blaine RadfordJuly 16, 2013 at 3:49am
Business Name: Integrated Asset Services, LLC
Your BBB has made several attempts to contact the business regarding the above referenced complaint. We regret to inform you that we have not received a response from the company.
Your BBB develops and maintains Business Reviews on companies in our service area. This information is available to the public and is frequently used by potential customers. In the case of your complaint, the company's failure to promptly give attention to the matter will be reflected in its Business Review.
At this time you may wish to contact the Colorado Division of Real Estate (who we believe regulates this business) at 303-894-2166. If the company has contacted you directly, please notify us immediately.
Sincerely,
Lauren Johnson Trade Practices Specialist ljohnson@denver.bbb.org 303 996-3641 303 577-8131Fax
Thank you for mentioning Transcontinental, I have been getting a lot of orders for them but they only pay $35 for an exterior, and now to know they don't pay either, forget it.
IAS don't pay final utilities invoices. They approved my final on their website but will not send me the check. I have emailed them over and over and only once they replied. The accounting department stated sorry but you will be paid but didn't have ETA when that would be. So I am still waiting after 6 months and still not paid. I email them once a week and they have not replied for the past 3 months.
Your BBB has made several attempts to contact the business regarding the above referenced complaint. We regret to inform you that we have not received a response from the company.
Your BBB develops and maintains Business Reviews on companies in our service area. This information is available to the public and is frequently used by potential customers. In the case of your complaint, the company's failure to promptly give attention to the matter will be reflected in its Business Review.
At this time you may wish to contact the Colorado Division of Real Estate (who we believe regulates this business) at 303-894-2166. If the company has contacted you directly, please notify us immediately.
Sincerely,
Lauren Johnson Trade Practices Specialist ljohnson@denver.bbb.org 303 996-3641 303 577-8131Fax
I have the same problem with IAS, they still owe me for utilities and zoning penalties that I prepaid on one of the REOs I sold for them, and it has been 8 months, also I stopped doing bpos for them because it took them over one year to pay me and only after I threatened to sick an attorney on them.
Replies
Really!!?? My company is platinum certified on Equator and have a premium ResNet account. We do not do BPO'S but we have a hell of a lot of listings!
Equator is basically a platform that lenders use to track their REO's from foreclosure through sale. Several lenders such as BOA and Nationstar use Equator for that purpose only. Although most of the larger lenders already have a panel of agents they use on a regular basis, the asset managers themselves do compare the agent qualifications as published in Equator. Equator itself does not assign REO's to the agent, lenders who work with Equator actually choose the agent and do at times use the Equator resumes and certifications when choosing an agent. With the drop in inventory, If you do not have REO experience, it is difficult to get an REO listing from anyone, and none can guarantee you will get a listing. So if an agent is just signing up with Equator and paying for their certification to get listings forget it. However if you will be doing short sales (which in many areas are also declining), then BOA and several other large banks once again require registration with Equator, but in those cases, forget any certification. You can register for free and will stand just as good a chance of getting listings-slim.
I am a member of both Equator with Platinum certification and Resnet Ampro and all I have gotten from this is receipts for a business write off. I have been doing REO's for over 27 years and when LPS got out of the business and Corelogic backed off then add the sale of Litton, Aurora Loan Serviced and a few more than I can't remember my business has dived. Asset Management companies are very selective. Nationstar is very professional and great to work with when they have something for you. Alot of the Hedge Funds who bought properties too early are working on getting rid of propreties that they bought too high but alot of them need help because they came out running before they knew how to walk. I have never been an approved FannieMae agent even though I have temporary status I can not get full approval and would really like to acquire this but keep running into dead ends. IAS and BrokerPrice Opinion also owe me money since last October but I have the same story and results as everyone. Clear Capital,LPS, Landsafe, RRRieview,FAS,Meridian are good BPO companies that pay
Becareful with LPS because they will set up to be the bad guy and then drop you. I worked with them for 3 years doing a lot of BOFA's. They constantly are asking you to change out comps for their closing company Landsafe. I guess their reps got tired of me not wanting to break the law to make a commission, so they made up a couple of stupid excuse that because I had a slightly different digital signature on my last report and or used someone else's MLS photo (which I never did) and gave them proof of it from my own camera saved file said it when and created from. The original signature they got was from an old NAR card and when I signed my new NAR it was just a smig different and it even looked as close as the one I had on my drivers license that has not been changed for decades. Really, who cares what my signature looks like, as long as I'm the one who did it... Right.
Maybe we should all just ask IAS for the amount they owe us so can be sure and deduct that from our earnings and keep the IRS Happy and put them on IAS trail.
Business Name: Integrated Asset Services, LLC
Your BBB has made several attempts to contact the business regarding the above referenced complaint. We regret to inform you that we have not received a response from the company.
Your BBB develops and maintains Business Reviews on companies in our service area. This information is available to the public and is frequently used by potential customers. In the case of your complaint, the company's failure to promptly give attention to the matter will be reflected in its Business Review.
At this time you may wish to contact the Colorado Division of Real Estate (who we believe regulates this business) at 303-894-2166.
If the company has contacted you directly, please notify us immediately.
Sincerely,
Lauren Johnson
Trade Practices Specialist
ljohnson@denver.bbb.org
303 996-3641
303 577-8131Fax
Thank you for mentioning Transcontinental, I have been getting a lot of orders for them but they only pay $35 for an exterior, and now to know they don't pay either, forget it.
IAS don't pay final utilities invoices. They approved my final on their website but will not send me the check. I have emailed them over and over and only once they replied. The accounting department stated sorry but you will be paid but didn't have ETA when that would be. So I am still waiting after 6 months and still not paid. I email them once a week and they have not replied for the past 3 months.
Business Name: Integrated Asset Services, LLC
Your BBB has made several attempts to contact the business regarding the above referenced complaint. We regret to inform you that we have not received a response from the company.
Your BBB develops and maintains Business Reviews on companies in our service area. This information is available to the public and is frequently used by potential customers. In the case of your complaint, the company's failure to promptly give attention to the matter will be reflected in its Business Review.
At this time you may wish to contact the Colorado Division of Real Estate (who we believe regulates this business) at 303-894-2166.
If the company has contacted you directly, please notify us immediately.
Sincerely,
Lauren Johnson
Trade Practices Specialist
ljohnson@denver.bbb.org
303 996-3641
303 577-8131Fax
Hello Barbara,
I have the same problem with IAS, they still owe me for utilities and zoning penalties that I prepaid on one of the REOs I sold for them, and it has been 8 months, also I stopped doing bpos for them because it took them over one year to pay me and only after I threatened to sick an attorney on them.