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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BPOfulfillment (MainStreet) has been dragging their feet in paying. They are currently over 60 days and going on 90 days now. They are on my Bad List right now.
The orig. MainStreet always paid on 30 day cycles. When Red Bell took over and it became 60 day cycles. Now somthing has changed or is going on with them and it is taking much longer to get paid. I get a lot of work from them, but I just don't like to wait 3 months to be paid. And to me that is a worrisome sign that things may not be going so well at BPOfulfillment.
I think that as long as you honestly do your research and use the best comparables out there not to steer any direction that is to favor either the banks or homeowner, then it should not be a problem. The issue is, that there are alot of agents who try to double end commissions and use comps that favor their price opinions on all their BPO's during the listing period as well as only submitting their own offers making it hard for other outside brokers to help sell the subject in a reasonable time frame. Those are the ones that will be caught and have to explain why they did not use certain comparables when they were plaining in site in the MLS. When an agent acts unethical, it puts the homeowner in jeopardy of not getting a refi/modi/or principle reduction and eventually end up losing their home to an auction process and that is a very shelfish thing for a Realtor to do. We got our licenses to BE GOOD SIMARITANS AND HELP THOSE IN TROUBLE. Unfortunately, $$$ seems to drive some peoples motives.
Please add good pays :) to our list: Clear Capital, LPS and ProTeck.. bad ones:( USA Valuations
Fulton Gaylord > sandy mcwilliamsJanuary 10, 2014 at 4:17am
But, Clear Capital moved to my BAD list when they tried and charge me a $45 Credit and Criminal check, recently. Other companies had the same requirement but didn't charge me!!
Maybe it's my shifty eyes and dark foreboding look?
Sharon Letson > Fulton GaylordJanuary 10, 2014 at 10:48am
I went ahead and paid for it even though I don't think it gave me any more BPOs than I had been getting. At least is doesn't seem to but because they have been good to me and pay quickly, I did what they asked. I got mine in the mail, should I have mailed it to them? They stopped asking online for me to do it, so I figured they got it too.
I had one done for Service Link which I paid for. When CC requested one they accepted the one I had done for Service Link. Been working for CC for 9 years and they are the best when it comes to support and payment. Love the fact they pay $150 for commercial ones!
Willy Olsen > sandy mcwilliamsJanuary 10, 2014 at 8:09am
$150 for commercial BPOs. That's way too low. I use to get $250 to $500 for commercial stuff. CC, InsideVal and Green River. But I know that has all changed now. I'm surprised to see so many out there who are willing to do residential BPOs for $20.
I paid to have a Background Check with CC, but I have yet to have any other company ask for the same. So, I'm kind pissed that I think I was ripped off by them for something that I really didn't need.
Replies
Thanks for the information on VP. I crossed them off my list.
BPOfulfillment (MainStreet) has been dragging their feet in paying. They are currently over 60 days and going on 90 days now. They are on my Bad List right now.
The orig. MainStreet always paid on 30 day cycles. When Red Bell took over and it became 60 day cycles. Now somthing has changed or is going on with them and it is taking much longer to get paid. I get a lot of work from them, but I just don't like to wait 3 months to be paid. And to me that is a worrisome sign that things may not be going so well at BPOfulfillment.
they just called me.....hmmmmm. they use to be ok with payments, what has happened with them?
I think that as long as you honestly do your research and use the best comparables out there not to steer any direction that is to favor either the banks or homeowner, then it should not be a problem. The issue is, that there are alot of agents who try to double end commissions and use comps that favor their price opinions on all their BPO's during the listing period as well as only submitting their own offers making it hard for other outside brokers to help sell the subject in a reasonable time frame. Those are the ones that will be caught and have to explain why they did not use certain comparables when they were plaining in site in the MLS. When an agent acts unethical, it puts the homeowner in jeopardy of not getting a refi/modi/or principle reduction and eventually end up losing their home to an auction process and that is a very shelfish thing for a Realtor to do. We got our licenses to BE GOOD SIMARITANS AND HELP THOSE IN TROUBLE. Unfortunately, $$$ seems to drive some peoples motives.
Please add good pays :) to our list: Clear Capital, LPS and ProTeck.. bad ones:( USA Valuations
But, Clear Capital moved to my BAD list when they tried and charge me a $45 Credit and Criminal check, recently. Other companies had the same requirement but didn't charge me!!
Maybe it's my shifty eyes and dark foreboding look?
I went ahead and paid for it even though I don't think it gave me any more BPOs than I had been getting. At least is doesn't seem to but because they have been good to me and pay quickly, I did what they asked. I got mine in the mail, should I have mailed it to them? They stopped asking online for me to do it, so I figured they got it too.
I had one done for Service Link which I paid for. When CC requested one they accepted the one I had done for Service Link. Been working for CC for 9 years and they are the best when it comes to support and payment. Love the fact they pay $150 for commercial ones!
$150 for commercial BPOs. That's way too low. I use to get $250 to $500 for commercial stuff. CC, InsideVal and Green River. But I know that has all changed now. I'm surprised to see so many out there who are willing to do residential BPOs for $20.
I paid to have a Background Check with CC, but I have yet to have any other company ask for the same. So, I'm kind pissed that I think I was ripped off by them for something that I really didn't need.
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