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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Colleen > Lavina A. JacksonMarch 26, 2014 at 3:21pm
I get some listings from OCWEN, however they have their own in house broker out of Florida and they will give listings to me in areas where that broker is not able to sell it. Personally I think it is an antitrust violation. I normally get very rural listings, in some cases not bad, however, the commissions are awful, about 1%.
I like working with them even though they don't maintain the properties. The pay isn't much but since the work isn't much either, it's pretty easy pay. They have started using the Florida broker here too. They have been using HUBZU for over a year around here. I haven't had a listing from them since mid year last year. I was getting all of them but they had several properties for a while and another agent managed to start getting some of them, until the Florida broker took over.
Antionette > Lavina A. JacksonMarch 26, 2014 at 3:19pm
I've seen several REO's just sitting empty and vandilized that have the Altisource/Ocwen posting on the windows. That tells me that they do not care about their assets and probably won't care much about paying the BPO agents either. Just saying....
Actually they are one of the best payers. Their form is easy, they seldom call for changes and will negotiate fees. They usually pay within one week of acceptance of the report and always pay by direct deposit. I have worked for them for several years and yes it is true they don't maintain their properties real well and only pay a listing agent 1%. You have to do very little with the properties, do the BPO and put them on MLS. All offers are placed on line by the selling agent. No matter the BPO fee they pay, they always deduct $1.00. They have recently started working their properties as auction properties through Hubzu. No work involved in the REO's, but not much pay either.
I just had one of my JP Morgan Chase Listings turned over to Auction.com and I have a letter and guidelines from Auction.com. In this letter it describes everything you have been talking about . It guarantees 6% commission to my office . They are paying seller and buyer agent commission of 3% each. No problems so far for me anyway.
http://Auction.com/
Colleen > Susan Sutton NewtonMarch 24, 2014 at 5:45pm
I think that they are starting to offer commissions because of complaints. They are crazy to expect that agents will work for nothing.
Yes I agree, these do pay some of my bills or at least alittle spare change (notice I didn't say dollars). Though, they all seem to come up with new ways to save more on us and get more work out of us at the same time. Corelogic has for the past year or so been going with the BID PROCESS. The more you agree to take less the better your odds of getting the order. But, how far will they go to get us to BEG for the work? Anyway, they have already started if you haven't notice yet, they now call their BPO'S INT/EXT in the drop down menu and you can't choose one or the other. I think they are going to just have the 2ffer deal and only pay for a 1ffer. So, in the future I for see ultimately no longer seeing BPO's just for exterior is my guess. This will cut their costs/paperwork in have as well as our income.
Speaking of CoreLogic which I used to do BPOs for, their company came up with ICLEAR for invoicing bills incurred from BMO Harris Bank for deposits and payments for utilities during the time you have the listing. They have an agreement that is confusing to me. I've asked, but haven't gotten an answer. It looks like a person would have to pay for an invoice to get reimbursed for things you pay for while you have the listing before it sells. Any knowledge of this? I just wondered how CoreLogic comes into the picture, but they do. CoreLogic stopped sending me BPO requests, but to be honest they were always so low in their fees and so far away from me, I rarely did any for them.
Replies
I get some listings from OCWEN, however they have their own in house broker out of Florida and they will give listings to me in areas where that broker is not able to sell it. Personally I think it is an antitrust violation. I normally get very rural listings, in some cases not bad, however, the commissions are awful, about 1%.
I like working with them even though they don't maintain the properties. The pay isn't much but since the work isn't much either, it's pretty easy pay. They have started using the Florida broker here too. They have been using HUBZU for over a year around here. I haven't had a listing from them since mid year last year. I was getting all of them but they had several properties for a while and another agent managed to start getting some of them, until the Florida broker took over.
I've seen several REO's just sitting empty and vandilized that have the Altisource/Ocwen posting on the windows. That tells me that they do not care about their assets and probably won't care much about paying the BPO agents either. Just saying....
Actually they are one of the best payers. Their form is easy, they seldom call for changes and will negotiate fees. They usually pay within one week of acceptance of the report and always pay by direct deposit. I have worked for them for several years and yes it is true they don't maintain their properties real well and only pay a listing agent 1%. You have to do very little with the properties, do the BPO and put them on MLS. All offers are placed on line by the selling agent. No matter the BPO fee they pay, they always deduct $1.00. They have recently started working their properties as auction properties through Hubzu. No work involved in the REO's, but not much pay either.
go onto real trans. you can call the bpo department and ask to get signed up. Lately though their payments have been spotty.
People man your battle stations Ocwen and RR Review are both on Fire today through 3/28/14 - Friday
Joey Singh
ATX BPO Inc.
www.atxbpo.com
Business Development
1 212 801 2390 Office Ext 888
1 516 881 0126 Direct Operations Floor Line
1 800 689 6028 Fax
1 917 859 4400 Cell
http://www.linkedin.com/in/joeysingh
I just had one of my JP Morgan Chase Listings turned over to Auction.com and I have a letter and guidelines from Auction.com. In this letter it describes everything you have been talking about . It guarantees 6% commission to my office . They are paying seller and buyer agent commission of 3% each. No problems so far for me anyway.
I think that they are starting to offer commissions because of complaints. They are crazy to expect that agents will work for nothing.
Yes I agree, these do pay some of my bills or at least alittle spare change (notice I didn't say dollars). Though, they all seem to come up with new ways to save more on us and get more work out of us at the same time. Corelogic has for the past year or so been going with the BID PROCESS. The more you agree to take less the better your odds of getting the order. But, how far will they go to get us to BEG for the work? Anyway, they have already started if you haven't notice yet, they now call their BPO'S INT/EXT in the drop down menu and you can't choose one or the other. I think they are going to just have the 2ffer deal and only pay for a 1ffer. So, in the future I for see ultimately no longer seeing BPO's just for exterior is my guess. This will cut their costs/paperwork in have as well as our income.
Speaking of CoreLogic which I used to do BPOs for, their company came up with ICLEAR for invoicing bills incurred from BMO Harris Bank for deposits and payments for utilities during the time you have the listing. They have an agreement that is confusing to me. I've asked, but haven't gotten an answer. It looks like a person would have to pay for an invoice to get reimbursed for things you pay for while you have the listing before it sells. Any knowledge of this? I just wondered how CoreLogic comes into the picture, but they do. CoreLogic stopped sending me BPO requests, but to be honest they were always so low in their fees and so far away from me, I rarely did any for them.
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