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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I have worked with Equi-trax for several years and have never had any problems getting pd. They have been good to work with, with few clarifications or changes. It usually takes about 30 days before I receive a check but have always gotten it.
Antionette > Marvin ShelleyAugust 31, 2013 at 7:34am
I just did 3 BPO's for EquiTrax in the last 4-6 weeks and have been paid for 1 so far, I hope I get paid for the other 2. I personally think these banks need to go back and update their sites showing their approved existing BPO vendors specially the Asset Managements so like RES.NET and others won't be deceiving agents about buying into their platforms.
3. They are tough because they actually have appraisers reviewing your BPO so they don't tolerate any sloppy garbage
4. Every employee is onshore in the US so you won't have any comprehension issues...ahem....
5. Companies that are also AMC's also are tough on on BPO's - its just a fact of the business- That's why EML,
6. Yes, their forms are long and arduous and the kick it back alot because of Point 3.
Equi-Trax, Inside Valuation and any other company that has a appraisal division is tough on BPO's - quite frankly I think its to "up-sell" the client into getting an appraisal....kind of the "rust undercoating" of the car sales world
MYWikipedia:MY or my commonly refers to the first-person, possessive adjective in the English language, see I.→
What does having an appraiser have to do with viewing your BPO. First of all, they should not be viewing your BPO and have access to any of the BPO agents information. BPO's are only for the banks to view to determine how close the agents opinions are to the appraisers opinions. If appraisers are viewing the standard agents BPO's, then I think that's very unethical. This is probably explains the reason why these third party vendors keep coming back asking agent to change out comps to be able to match up with their internal appraisers reports in order to get closings done with their internal closing companies. I will never use the comps they suggest because most of the time its not possible to justify them. If anything, I will see if I can find any others to replace before going back and saying NO CAN DO...
I agree with this statement and never thought about it. I believe some of the appraisers are doing desktop reviews and the banks compare their reports with ours.
Replies
Uh Equitrax has quit paying and Titanium went out of business. Maybe this is an old blog!
I never had problem getting paid from Equitrax.
I have worked with Equi-trax for several years and have never had any problems getting pd. They have been good to work with, with few clarifications or changes. It usually takes about 30 days before I receive a check but have always gotten it.
I just did 3 BPO's for EquiTrax in the last 4-6 weeks and have been paid for 1 so far, I hope I get paid for the other 2. I personally think these banks need to go back and update their sites showing their approved existing BPO vendors specially the Asset Managements so like RES.NET and others won't be deceiving agents about buying into their platforms.
Integrated Asset Services is a non payer for BPOs.
heard they were filing bankruptcy. I did work for them for 7 years and every year they got worse in making payments. Done with them.
James,
PCV Murcor - - opipions from our brokers clients
1. They pay well
2. They pay promptly
3. They are tough because they actually have appraisers reviewing your BPO so they don't tolerate any sloppy garbage
4. Every employee is onshore in the US so you won't have any comprehension issues...ahem....
5. Companies that are also AMC's also are tough on on BPO's - its just a fact of the business- That's why EML,
6. Yes, their forms are long and arduous and the kick it back alot because of Point 3.
Equi-Trax, Inside Valuation and any other company that has a appraisal division is tough on BPO's - quite frankly I think its to "up-sell" the client into getting an appraisal....kind of the "rust undercoating" of the car sales world
What does having an appraiser have to do with viewing your BPO. First of all, they should not be viewing your BPO and have access to any of the BPO agents information. BPO's are only for the banks to view to determine how close the agents opinions are to the appraisers opinions. If appraisers are viewing the standard agents BPO's, then I think that's very unethical. This is probably explains the reason why these third party vendors keep coming back asking agent to change out comps to be able to match up with their internal appraisers reports in order to get closings done with their internal closing companies. I will never use the comps they suggest because most of the time its not possible to justify them. If anything, I will see if I can find any others to replace before going back and saying NO CAN DO...
Antionette,
I agree with this statement and never thought about it. I believe some of the appraisers are doing desktop reviews and the banks compare their reports with ours.
what about Inside Valuations??
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