I have been doing business with SPS REO services for about 10 years.  This used to be Disposolutions and now they process their properties on the Exceleras platform.  The company also assigns bpos through RRReview.  I am not sure if they are part of the same company but if I get an assignment on a REO property and a subsequent assignment to do a bpo on the same property, they know I have both and will not let me proceed with the bpo.  This started about a year ago.  Prior to that, they did not communicate with each other and did not know of duplicate assignments. (just an fyi).

I had a property that was a foreclosure assigned to me last year.  It was a very unusual property and it had several issues with encroachments on other properties.  The asset manager approved a survey to be done to determine the extent of the encroachment.  The bill was $1895 and was submitted at closing to be paid by the seller.  The approved closing agent used by SPS failed to include the bill in the closing and several month later, I get a call from the surveyor about the bill not being paid. 

I brought up the issue with the asset manager and he told me to pay the bill and submit it to their reobilling department.  I did this and because it was greater than the 45 days allowed to submit the bill and the file was closed, they refused to pay it.  I took it up with the asset manager and he told me to send him the approval, the bill marked as paid and my W9 and he would give it to his manager.  That was almost 4 months ago.  I have been requesting updates but did not hear anything back from the asset manager.  I sent in another request for payment this week and he sent it back to the billing dept for processing again and asked for their assistance.

I am ready to escalate this but I cannot find anyone to escalate it to.  I have no contacts, no other names other than the asset manager.  Does anyone have any information on this company or where I can find it?


Jeanette Becker

Heartland Realty, LLC

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  • Wow, thanks for the heads up. I'm working on the Exceleras platform too, and have had a number of big bills, but they do seem to get paid. I think the AM on the recent one was sitting on the job of approving the payments, because it was sort of late, and I mentioned something else to her, and her reply included a comment that she would "approve my expenses right away."
  • What a mess. I would go to your state Consumer Protection Division first. You may want to consult a lawyer as well. Not sure if you can put a lien on the property at this point since it sold already. YIKES. That is a lot of money to be out. 

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