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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Tracer Allen > Yanoska DiazJanuary 11, 2013 at 5:26am
I totally agree about eMortgage. 70% of my work is with them and they negotiate every order with me. They are the best! They only lag at times with approving orders and their lag is better than everyone else I have worked with.
I guess I'm one of the lucky ones, as I haven't taken orders for bad payers. This site has been invaluable to me for checking out some of the feedback on slow/bad paying companies. I've had request from Broker's Price Opinion and Evaluations Solutions and have refused each request. My list of best payers for the area I work (Tennessee) is:
Clear Capital
Specialized Asset Management
eMortgage
iMortgage
Mark To Market
Main Street Valuations
Core Logic
Rels
Inside Valuations.
A couple of questions I have for everyone. 1. Does anyone have any feedback on Old Republic? (do they negotiate fees, good payer) 2. Best companies to gain REO business without signing up and paying a fortune.
On their site you need to pay $169 to sign up on their REO list of agents but you are still obligated to sign up with Res.net (approx. $900 for both). I'm starting to believe that Res.net is going to these banks asset managers and offering themselves as a discount asset platform because they sure seem to be getting most the referral sign up business to work hand in hand with a lot of these banks? I don't see anything special about them over others?The only thing is that they are being more competitive with their commission structure with the banks? I don't know if the banks realize that they make the agents agree to less commission to make up for the discount structure with them. But sure appears that way.
Well I believe res net has been on the ropes since Fannie Mae dumped them for equator about 2 yrs, ago.
Jay Pegram > Tracer AllenFebruary 21, 2013 at 12:21pm
Old Republic is a good payer. Within weeks. They are a Public Traded Company as well, so they are under more scrutiny, LIke LSI and Altisource, for instance....They will negotiate fees, however they start real low...If you can grab someone and do good work, quick turn around...They may assign them to you directly...
Jay is correct - you just have to remember to call someone NOT offshore with Altsource- the offshore staff cannot assign you work - they can only look up files that you have already accepted..
I got a REO from Nations REO without paying anything and I got a free profile at resocialclub.com and got an REO from Pressicion asset management.
Yanoska Diaz > Rafael A. NunezJanuary 11, 2013 at 10:30am
Wow! This blog which most of us have joined has opened doors for all kind of discussions, LOL. If you have something so awesome to communicate please!! create a new blog, I am sure we all want to know where to find new sources for REO listings ;) I already signed up.
Sharon Letson > Yanoska DiazJanuary 11, 2013 at 11:42am
Yes it would be good to find sources for REOs. I did find a website to sign up for HUD homes, and sent documents in to them. It takes two weeks to hear back and I already had a NAID number, but hadn't renewed it. I'll let you know how it goes. Also, I wonder if we knew what banks were paying these BPO companies and then they not paying us would like to know that. How would we find out who to complain to?
CECILIA D FOX > Sharon LetsonJanuary 11, 2013 at 12:02pm
Sharon - I think you should start a new discussion for your topic. This one is about companies that do or don't pay and I think it is already a bit too long. My opinion, of course.
I do think it would be great to discover who the clients of the BPO companies are but I've never gone that far since I've not been left by anyone without payment. Remember that the clients are always the current lender. Sometimes they are a party looking to buy mortgages, and they are not usually banks or well known public entities.
Replies
I totally agree about eMortgage. 70% of my work is with them and they negotiate every order with me. They are the best! They only lag at times with approving orders and their lag is better than everyone else I have worked with.
I guess I'm one of the lucky ones, as I haven't taken orders for bad payers. This site has been invaluable to me for checking out some of the feedback on slow/bad paying companies. I've had request from Broker's Price Opinion and Evaluations Solutions and have refused each request. My list of best payers for the area I work (Tennessee) is:
Clear Capital
Specialized Asset Management
eMortgage
iMortgage
Mark To Market
Main Street Valuations
Core Logic
Rels
Inside Valuations.
A couple of questions I have for everyone. 1. Does anyone have any feedback on Old Republic? (do they negotiate fees, good payer) 2. Best companies to gain REO business without signing up and paying a fortune.
Thanks for all your help!!!
On their site you need to pay $169 to sign up on their REO list of agents but you are still obligated to sign up with Res.net (approx. $900 for both). I'm starting to believe that Res.net is going to these banks asset managers and offering themselves as a discount asset platform because they sure seem to be getting most the referral sign up business to work hand in hand with a lot of these banks? I don't see anything special about them over others?The only thing is that they are being more competitive with their commission structure with the banks? I don't know if the banks realize that they make the agents agree to less commission to make up for the discount structure with them. But sure appears that way.
Well I believe res net has been on the ropes since Fannie Mae dumped them for equator about 2 yrs, ago.
Old Republic is a good payer. Within weeks. They are a Public Traded Company as well, so they are under more scrutiny, LIke LSI and Altisource, for instance....They will negotiate fees, however they start real low...If you can grab someone and do good work, quick turn around...They may assign them to you directly...
Jay is correct - you just have to remember to call someone NOT offshore with Altsource- the offshore staff cannot assign you work - they can only look up files that you have already accepted..
I got a REO from Nations REO without paying anything and I got a free profile at resocialclub.com and got an REO from Pressicion asset management.
Wow! This blog which most of us have joined has opened doors for all kind of discussions, LOL. If you have something so awesome to communicate please!! create a new blog, I am sure we all want to know where to find new sources for REO listings ;) I already signed up.
Yes it would be good to find sources for REOs. I did find a website to sign up for HUD homes, and sent documents in to them. It takes two weeks to hear back and I already had a NAID number, but hadn't renewed it. I'll let you know how it goes. Also, I wonder if we knew what banks were paying these BPO companies and then they not paying us would like to know that. How would we find out who to complain to?
Sharon - I think you should start a new discussion for your topic. This one is about companies that do or don't pay and I think it is already a bit too long. My opinion, of course.
I do think it would be great to discover who the clients of the BPO companies are but I've never gone that far since I've not been left by anyone without payment. Remember that the clients are always the current lender. Sometimes they are a party looking to buy mortgages, and they are not usually banks or well known public entities.
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