REOPro Makes the Agent the AMC

REOPro is in talks with a national technology platform about possibly revolutionizing the REO industry by allowing our members to go out into their markets and solicit REO's from small to medium sized banks and servicers.

The idea behind this effort is to make the agent the AMC (Asset Management Company). We have found that many local, small or even regional servicers just simply don't have the technology, expertise, staff or funds to hire or create a true "REO Department" for themselves. Instead, they assign an unfortunate VP of the bank to handle the REOs on top of doing their regular job.

What REOPro would like to do is provide our members with a technology solution that would enable them to go into their local banks, credit unions and servicers and offer them a true AMP (Asset Management Provider) solution. In essecne, creating micro AMP's across the nation through REOPro.

Basically what we would do, is give you access to a technology platform that allows you to customize it's performance for a particular lender or servicer in your area. You then could work for them and become their own little AMP and help them avoid the cost of outsourcing. This way, you could go into Bank of Small Town USA, show them your incredible software, your incredible support, your incredible tracking, etc..... and win them over as their own little AMP.

Truth is, we may never be able to capture a Bank of America or Chase but, a larger underserved market is out there and that is the local banks and credit unions who would like to outsource to a credible, knowledgeable and experienced AMP but, can't afford the is where REOPro could step in.

The only question is, will our members go out there, sell our services as a AMP and win business? Of course, you would be our exclusive agent for any business you bring in but, would you do it?

Let me know, love to hear your thoughts.

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  • Well everyone, the doo doo has hit the fan and I seriously doubt REOPro is going to be able to make this happen. Unless someone steps up to the plate and is willing to partner with us, we won't be able to move forward. Sorry for getting everyone's hope up but, I really did think this was going to happen. At this point, I am going to close down the thread and if any of you come across some technology that could get this moving forward, send them my way.

  • This sounds great!  I'd be interested in knowing more about it as you move forward.

  • I am just wondering what does Asset Management Provider consist of.  Please explain.  Do you plan to test it out locally first?  Put the idea on a webinar after testing it - giving us the pros and cons with the lenders or mortgage holders.  ...  It is very interesting.

  • I would also be interested if you get things worked out.

  • Hey there Jesse - I'm very excited about this and am hoping you have an update as to where we are at with it. Any news?

  • I would definitely be interested in hearing more details about this idea.

  • Jesse, 

    I like your approach! Absolutely a great idea and I'd do it!

  • Sorry for jumping on the wagon a bit late Jesse, but I am in if you can get the platform going. I am in Indianapolis, IN and the REO's are drying up or going to the same agents who have been with the banks for years.  The Big Banks are simply not helping the little man like myself.  So, if there is an opportuntiy to introduce myself to a bank or credit union as the new AMP in Indianapolis than I am ready to roll.  Good Luck on get the technology rolling. 

  • 8-13-2013 Status Update: Well, this update isn't going to be as good as I hoped it would be however, it's an update none the less and maybe one of you can help out and step up. The technology platform I was planing on using is starting to flake out a little. I can't get any of the executive team to respond to my emails or other correspondences. It's been a week now so, I am getting the suspicion that they can't perform and may have over promised a bit. I don't want to share who the platform is at this point but, I think I will keep trying to connect and if I don't hear back from them in a couple weeks, call it and start looking for another provider.

    My problem is I really do believe in this idea. Sure, some of you have expressed real concerns that your area doesn't have enough small banks, lenders or credit unions to really warrant such a program and I get that. If you live in Cotton Town Tennessee, chances are, this program isn't going to work for you. I have also read comments about how they don't believe the commission structure would ever, news flash, I haven't even decided on a commission structure yet or for that matter, discussed it with anyone who has leaked it to the public so, how do you know what it is and how do you know if it would or wouldn't work? Finally, I have heard some say that this has been done and it didn't work so, my idea can't work either. Yeah, I get it, been there done that and for you who think like that, I got one name for you, Thomas Edison. 

    Sure, maybe it's a crazy ride, sure, you might think it's a pipe dream and sure, it may require a little trust and you may have to pass me off as some Wile-E-Coyote but, if it has the potential to make you money, put you in control, and cost is lower than what you would pay for a once a month dinner for you and your partner at your local O'Charley's, what is the problem? 

    I am not here to convince any of you, I don't see my role as such. I do see myself as someone who can effect change and my goodness, if you yourself are in such a role professionally, personally, mentally, spiritually and you don't try every day to make that positive change, don't worry about this program, don't worry about this network because, it's not right for you at all. 

    Sorry for venting and, no...those of you know me know that I am not going to get into any forum thread discussion war so, as I said at the start, if any of you know of a tech platform that can accomplish what we are asking, I have a network, that from this thread, is ready, willing and just need a platform to make us able. Send those tech nerds my way, I want to talk with them..


    • Jesus,  It concerns me that after we pay a member fee, we still have to go out and do all the leg work to get the business and still have no guarantee anything will happen which is the same result as other platforms except we don't have to do the exercise?  Once this gets out and introduced nationwide like a new type of, equator or other amp, as more and more agents sign up for membership we then become just like the other platforms with more and more competition with our own local agents whom we constantly come against. Therefore, once more we can be throwing our money away.  We as members want a guarantee we don't have to compete with others as we have been.  Once we find the business and contact person, this be our own information to keep and not have to reveal it to the platform/executives? Platform executives should only be concerned with one thing and that is getting membership fees and nothing else.  Why should anyone else reap on another persons hard work?  I think once the agent has the business and contact person information the agent should be able to only supply their own personal contact information on a contract (of course with the logo on it which are paid through membership fee's).  Anyway, my thought is you may not be getting any responses because the executives don't see making any profit unless they are in total control of the platform and will be able to charge the same as every other platform out there.  It would probably be very expensive to get this started and would need a good fortune to do so and can see these expenses being passed on to the members through high cost membership fee's. I think this idea for a new platform should be created where as the members own shares of this platform and be able to gather up a few of their own different network companies they may know of and see what they all have to offer and put it to a vote to see which one would be in the best interest for all share members.  In other words, this platform should not be controlled only by 1, 2 or 3 persons.  We don't want to be SLAVES again to another useless platform.

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