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 > CECILIA D FOXSeptember 5, 2014 at 5:40am
regardless, I am bothered by this discussion and I feel that this puts us as risk. I am not even doing BPOS for these companies that you just mentioned at this time and have not in years. I have better things to do with my time and if we are going to lambasted by an asset manager who could potentially cause professional harm then this site is not worth it. this is not that big of an industry. count me out.
I'm sorry. It was certainly not my intention to be lambasting anyone. My only point has always been that all 3rd party vendors should not be being lambasted either just because some are bad.
I do not doubt anything that you say. My point is simply that there is good and bad in any industry and everyone should not be considered to be shysters and idiots just because some are. I will agree that there are some companies out there that make their living taking advantage of agents by making false promises and outright lies but that does not mean that all of us do. If we are mistreating or misleading the agents that deal with us, call us out by name and tell the world. We would deserve it. I have sense enough to know that we could not remain in business without the partnership we have with the local agents. You don't have to educate me on how much is put on an REO agent, I fully understand it and realize that it is not for everyone. .
I am on this forum because I registered to be here and clearly stated that I was an asset management company. If only agents are supposed to be participating then the administrator should remove me and I will be ok with that. I would think, however, that an honest accurate dialogue rather than just a place to vent would better serve all parties.
I totally agree David. I stated a few days ago that we have the choice of accepting or rejecting a BPO or Listing if we feel it isn't in our best interest. I take most listings offered to me and I am not a desperate agent. I do it because I enjoy it. I turn down plenty of BPO's because of the pay, but I also accept a lot of them that pay less. I do BPO's as much to keep up with the market as the money. Trying to make a living off of BPO's is a futile effort and would never support me. I get along good with the companies I work with and turn down BPO's with the companies that do not pay well or that do not pay at all. I have no objection to asset managers, brokers or agents being on the forum. Possibly having someone like you read the blog may wake up the companies that don't pay. Those are the companies this blog is aimed at anyway, not a forum to complain about everything the asset managers do.
David Shelton > Lavina A. JacksonSeptember 5, 2014 at 6:25am
Also important for all to realize is that this is a public forum. You must be a registered member to post a comment but anyone, registered or not, can read the comments. Just a reminder for anyone that thinks their comments are private.
Colleen > David SheltonSeptember 5, 2014 at 5:30am
You know this makes me very uncomfortable and puts us in a position where we cannot post our feelings with potential reprimand. I am going to contact the administrator. I will not post on this site again.
You should ALWAYS consider who is reading your posts - here or LinkedIn or anywhere else. There must be a reason hardly anyone calls out the asset company or manager name when they complain about their poor treatment here.
I agree totally with you. I have been doing BPO's and REO's for many years. There are companies that don't pay, but it shouldn't take more than 3-4 orders to get it figured out. I rarely ever have a report come back for revision and only one time have they asked me to change my value. After an explanation on my part they accepted it.
Replies
regardless, I am bothered by this discussion and I feel that this puts us as risk. I am not even doing BPOS for these companies that you just mentioned at this time and have not in years. I have better things to do with my time and if we are going to lambasted by an asset manager who could potentially cause professional harm then this site is not worth it. this is not that big of an industry. count me out.
I'm sorry. It was certainly not my intention to be lambasting anyone. My only point has always been that all 3rd party vendors should not be being lambasted either just because some are bad.
Colleen,
I do not doubt anything that you say. My point is simply that there is good and bad in any industry and everyone should not be considered to be shysters and idiots just because some are. I will agree that there are some companies out there that make their living taking advantage of agents by making false promises and outright lies but that does not mean that all of us do. If we are mistreating or misleading the agents that deal with us, call us out by name and tell the world. We would deserve it. I have sense enough to know that we could not remain in business without the partnership we have with the local agents. You don't have to educate me on how much is put on an REO agent, I fully understand it and realize that it is not for everyone. .
I am on this forum because I registered to be here and clearly stated that I was an asset management company. If only agents are supposed to be participating then the administrator should remove me and I will be ok with that. I would think, however, that an honest accurate dialogue rather than just a place to vent would better serve all parties.
I totally agree David. I stated a few days ago that we have the choice of accepting or rejecting a BPO or Listing if we feel it isn't in our best interest. I take most listings offered to me and I am not a desperate agent. I do it because I enjoy it. I turn down plenty of BPO's because of the pay, but I also accept a lot of them that pay less. I do BPO's as much to keep up with the market as the money. Trying to make a living off of BPO's is a futile effort and would never support me. I get along good with the companies I work with and turn down BPO's with the companies that do not pay well or that do not pay at all. I have no objection to asset managers, brokers or agents being on the forum. Possibly having someone like you read the blog may wake up the companies that don't pay. Those are the companies this blog is aimed at anyway, not a forum to complain about everything the asset managers do.
Also important for all to realize is that this is a public forum. You must be a registered member to post a comment but anyone, registered or not, can read the comments. Just a reminder for anyone that thinks their comments are private.
You know this makes me very uncomfortable and puts us in a position where we cannot post our feelings with potential reprimand. I am going to contact the administrator. I will not post on this site again.
yeah-what she said
I agree totally with you. I have been doing BPO's and REO's for many years. There are companies that don't pay, but it shouldn't take more than 3-4 orders to get it figured out. I rarely ever have a report come back for revision and only one time have they asked me to change my value. After an explanation on my part they accepted it.
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