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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Willy Olsen > Larry AndersonMarch 22, 2014 at 3:04pm
Larry, I've done a few bpos for C A. They don't pay a lot for their orders, but at the same time I've never had any problems with getting paid within 30 days from the accepted order.
Antionette > Larry AndersonMarch 21, 2014 at 3:25am
They work with another platform that you have to pay I think $15/$20 a month to get their BPO's. I personally won't pay anyone to get BPO referrals.
BPOfulfillment (formerly MainStreetValuations) pays, but they are so slow in paying. 60 to 90 days. At least I've never had a problem getting paid to date, but I sure wish they would pay much sooner.
I keep an annual running spread sheet of all the bpos and companies that I do work for in Google Docs. I also note in my spread sheet the date that the bpo was submitted and the date when I was paid. Because some bpo companies, that even though you completed the bpo at the beginning of the month, their billing cycle doesn't start until the end of the month. This helps me know how to spread out my workload by how quickly or slowly a company pays and how much each company pays for a bpo.
I had so much trouble with Main Street that I will not do any more for them. They have called me a few times under BPO fulfillment, however I always declined.
Yeah, since BPOfulfillment changed the way they distribute their orders, as of the first of the year, I have yet to get one. And that's ok because it gives me more time to focus on getting listings. 6 last week and 2 have already gone into escrow.
Has anyone been experiencing a form called ("ACI" Delivery Client) I think is for doing actual appraisels? Lately, with one of my vendors when you try to bring up their BPO form to complete, it asks me to upload this "ACI" app and it also states in the agreement terms about fee's. In the mean time the orders that the wanted me to do with this form which I didn't and used another BPO form I have not been able to bill for payment but the standard BPO forms I could bill? Seems a little fishy to me. They said it was just another evaluation form, but my question is why then do I have to sign an agreement that states fee's that the agent pays for using it and why do I now after to wait for a signature from their client when I never had to before? From what I understand, certified appraisers do these types of agreements/signatures from banks to approve a loan or closing on orders they do. Funny, after I question them about this, my BPO's business has slowed down with them. So, my quess is that they are either trying to get actual certified appraisels from Realtors not licensed for appraisels to get the BIG CHECKS from the banks and then just pay the Realtors the BPO fee only (putting the Realtor in jeopardy of losing their license for doing a certified appraisel when they shouldn't have or just trying to get some funds back in a sneaky way by charging agents back on BPO fee's. But my intuition tells me its the appraisel fee they want. We all need to watch out for this type of unethical business starting to come from these vendors we all once trusted the most. It really makes me mad when they treat you real good as long as you go with the flow but as soon as you ask questions that protect yourself they make you feel like your their enemy. Therefore, if they want to treat me like this, 2 can play that game...I actually took a screen shot of this "app" and I may even call the bank to let them know about this situation and possibly catch these vendors in fraud and also report it to CFPB to get it out in the open.
Replies
Larry, I've done a few bpos for C A. They don't pay a lot for their orders, but at the same time I've never had any problems with getting paid within 30 days from the accepted order.
They work with another platform that you have to pay I think $15/$20 a month to get their BPO's. I personally won't pay anyone to get BPO referrals.
Thank you, I will not pay either.
I have been solicited by them. I am concerned that they are part of Main Street Valuation. no pay.
BPOfulfillment (formerly MainStreetValuations) pays, but they are so slow in paying. 60 to 90 days. At least I've never had a problem getting paid to date, but I sure wish they would pay much sooner.
I keep an annual running spread sheet of all the bpos and companies that I do work for in Google Docs. I also note in my spread sheet the date that the bpo was submitted and the date when I was paid. Because some bpo companies, that even though you completed the bpo at the beginning of the month, their billing cycle doesn't start until the end of the month. This helps me know how to spread out my workload by how quickly or slowly a company pays and how much each company pays for a bpo.
I had so much trouble with Main Street that I will not do any more for them. They have called me a few times under BPO fulfillment, however I always declined.
Yeah, since BPOfulfillment changed the way they distribute their orders, as of the first of the year, I have yet to get one. And that's ok because it gives me more time to focus on getting listings. 6 last week and 2 have already gone into escrow.
I also have a spreadsheet, broken down monthly and I track when I get paid, I also do it for tax purposes as well as a back up. I use excel.
Has anyone been experiencing a form called ("ACI" Delivery Client) I think is for doing actual appraisels? Lately, with one of my vendors when you try to bring up their BPO form to complete, it asks me to upload this "ACI" app and it also states in the agreement terms about fee's. In the mean time the orders that the wanted me to do with this form which I didn't and used another BPO form I have not been able to bill for payment but the standard BPO forms I could bill? Seems a little fishy to me. They said it was just another evaluation form, but my question is why then do I have to sign an agreement that states fee's that the agent pays for using it and why do I now after to wait for a signature from their client when I never had to before? From what I understand, certified appraisers do these types of agreements/signatures from banks to approve a loan or closing on orders they do. Funny, after I question them about this, my BPO's business has slowed down with them. So, my quess is that they are either trying to get actual certified appraisels from Realtors not licensed for appraisels to get the BIG CHECKS from the banks and then just pay the Realtors the BPO fee only (putting the Realtor in jeopardy of losing their license for doing a certified appraisel when they shouldn't have or just trying to get some funds back in a sneaky way by charging agents back on BPO fee's. But my intuition tells me its the appraisel fee they want. We all need to watch out for this type of unethical business starting to come from these vendors we all once trusted the most. It really makes me mad when they treat you real good as long as you go with the flow but as soon as you ask questions that protect yourself they make you feel like your their enemy. Therefore, if they want to treat me like this, 2 can play that game...I actually took a screen shot of this "app" and I may even call the bank to let them know about this situation and possibly catch these vendors in fraud and also report it to CFPB to get it out in the open.
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