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 kicked them to the curb. I have a few outstanding bills with them. I also have one or two that were having some title issues, but I have cancelled the utility bills on them so I don't have to keep paying them and I am not going to actively go after them. They were an expensive exercise in futility for me and I have learned my lesson. if it is too good to be true, then it is.
any one ever have to use the IClear from Core Logic for REO listings from BPO vendors such as BMO Harris Bank? After paying utility bills you have to get them reimbursed through this IClear and I wondered if they charge you a fee to get your money back? Their form has fees, but not sure if they charge the agent to recover their costs such as utility bills.
I use ICLEAR for both BMO Harris Bank and also Citi financial. you will be charged a small fee for BMO Harris bank per billing. it is about 1.67 or so per charge. I get an invoice monthly. I think it is actually for site usage.
Thanks Colleen. I guess it's worth it if you get listings from BMO. Everyone gets their cut right? Another bank takes 30% of the commission for their part of giving you the listing. It's better than not getting a listing, but by the time I pay for deposits, keys, utilities, etc. which I do get back it's expensive. Good thing now the two utility companies didn't charge me a deposit this time around, but the water company wanted their $150 deposit at a time when I didn't have money for propane in my house. Tough times for many of us and this bank has taken 60 days to even get the listing to me and I still don't have it. I had a potential buyer who hung on for 2 months and just told me he can't go ahead. Still no listing or price.
Sharon, if you are talking about BMO Harris bank I have noticed that they have slowed down in payments. I do like working with the asset managers, they are very professional and easy to talk to. you can actually call them on the phone. I had my share of outrageous utility bills this year. I also had to pay a huge amount out of pocket for deposits and propane, which of course was sky high this winter. I also had to pay nearly $700 to contractors to remove snow and then have gravel put down on the driveway of a house in a rural area just so the propane truck could get down the driveway to deliver the buyer's propane. The buyers and the selling agent gave me a hard time. It took two days to get the driveway situated due to snow and ice and lack of traction. I did get my money back, between the snow removal and propane it was over $1000. This is about the worst it has been for me having to pay for high utility bills this winter on about 35 properties at once. very tight times.
OLGA SHURLOW > CECILIA D FOXMarch 26, 2014 at 3:44pm
After reading all the post , maybe i'm better of not doing business with them.
I recommend registering with them because they are one of the best payers. I do an average of 5 BPO's a week for them and they are one of my favorites.
Replies
Joan, my email is TWELCH001@columbus.rr.com if you want to directly email me. I have some input about this company.
I have kicked them to the curb. I have a few outstanding bills with them. I also have one or two that were having some title issues, but I have cancelled the utility bills on them so I don't have to keep paying them and I am not going to actively go after them. They were an expensive exercise in futility for me and I have learned my lesson. if it is too good to be true, then it is.
any one ever have to use the IClear from Core Logic for REO listings from BPO vendors such as BMO Harris Bank? After paying utility bills you have to get them reimbursed through this IClear and I wondered if they charge you a fee to get your money back? Their form has fees, but not sure if they charge the agent to recover their costs such as utility bills.
I use ICLEAR for both BMO Harris Bank and also Citi financial. you will be charged a small fee for BMO Harris bank per billing. it is about 1.67 or so per charge. I get an invoice monthly. I think it is actually for site usage.
Thanks Colleen. I guess it's worth it if you get listings from BMO. Everyone gets their cut right? Another bank takes 30% of the commission for their part of giving you the listing. It's better than not getting a listing, but by the time I pay for deposits, keys, utilities, etc. which I do get back it's expensive. Good thing now the two utility companies didn't charge me a deposit this time around, but the water company wanted their $150 deposit at a time when I didn't have money for propane in my house. Tough times for many of us and this bank has taken 60 days to even get the listing to me and I still don't have it. I had a potential buyer who hung on for 2 months and just told me he can't go ahead. Still no listing or price.
Sharon, if you are talking about BMO Harris bank I have noticed that they have slowed down in payments. I do like working with the asset managers, they are very professional and easy to talk to. you can actually call them on the phone. I had my share of outrageous utility bills this year. I also had to pay a huge amount out of pocket for deposits and propane, which of course was sky high this winter. I also had to pay nearly $700 to contractors to remove snow and then have gravel put down on the driveway of a house in a rural area just so the propane truck could get down the driveway to deliver the buyer's propane. The buyers and the selling agent gave me a hard time. It took two days to get the driveway situated due to snow and ice and lack of traction. I did get my money back, between the snow removal and propane it was over $1000. This is about the worst it has been for me having to pay for high utility bills this winter on about 35 properties at once. very tight times.
After reading all the post , maybe i'm better of not doing business with them.
Thanks everyone.
they pay quickly, usually and the form is easy. You can also negotiate a higher price in certain situations. I would not write them off.
I recommend registering with them because they are one of the best payers. I do an average of 5 BPO's a week for them and they are one of my favorites.
If you want to sign up for BPO's go to https://as.realtrans.com/webtop/default.html. They distribute all BPO's from there. Ocwen runs most of their REO's through HUBZU.
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