pilot (5)

Below Is part of an email I received this week I am wondering if anyone here on REO PRO has had a track record with this program with other outsourcers that may have tried this before. If you have ran into this already how easy was the conversion any problems to look out for?

 

 

One or more of the properties assigned to you has/have been selected for Fannie Mae's Utility Management Pilot. As part of the pilot, Fannie Mae has authorized a third party vendor to take over the management and payment of electric utilities on selected properties. 

 

Please read the linked FAQs and make a note of the properties listed below which have been selected for the pilot. A utility management company will contact your AMP within a week to request utility documentation. We ask that you work with your AMP to ensure they have the most up to date utility bill. Please Note: If you also work with Fannie Mae directly, it is important that you submit 571 reimbursements on AMP properties to your AMP rather than to Fannie Mae. 

 

Pilot Details

This pilot only affects the electric bills on the list of properties shown below unless the property has joint utility billing. If the property receives one bill for multiple utilities, then those properties will also be included in the Utility Management Pilot. All other bills and properties remain unchanged and you are required to continue to pay them as outlined in the Fannie Mae REO Sales Guide. If you have any assigned properties that are not selected for this pilot, it is your responsibility to continue to pay the electric bills of those properties. In addition, there are no changes to how you submit for reimbursement. Continue to submit to your AMP for reimbursement for all bills which you have paid.

 

The electric bills for the properties below will be transferred to a third party vendor and will no longer be sent to you. In order to facilitate a smooth transfer, you must activate service. If you do not activate service, the transfer cannot take place. Once the transfer takes place, a representative from the third party vendor will notify you and your AMP of the exact date service is transferred.

 

Important

If you have not recently submitted an electric bill to your AMP for reimbursement, one of our third party vendors may contact you for a current copy of the bill. The third party vendor will provide you with a Letter of Authorization from Fannie Mae allowing them to procure utilities on our behalf. We ask that you cooperate and promptly provide the assigned vendor with a copy of the most recent electric bill for the property requested. 

 

Please be mindful of the following points during the utility transfer to the third party vendor (utility management company).

  • Do not turn off the electricity on the selected properties. If electricity is activated, we are simply moving the billing to the utility management company. 
  • If any of the properties selected are occupied by a tenant, immediately notify your AMP so the property can be removed from the pilot.
  • The Utility Management Pilot is for electric bills only. However, if any of the properties selected have the electricity and gas combined under one utility company, the utility management company will still work to transfer billing of both services on these properties only.
  • If any of the properties selected do not have electricity turned on due to safety issues or concerns, immediately notify your AMP so the properties can be removed from the pilot.
  • If any of the properties selected are scheduled for closing in the next two weeks, and they have not transferred to the utility management company, please notify your AMP so the properties can be removed from the pilot.
  • After the transfer has occurred, the utility management company will contact you with the details of the effective transfer date, and let you know to expect a final bill. At that time, please pay that final bill, and submit it to your AMP for processing.

  

Thank you for your assistance with this initiative

 

 4359032263?profile=original

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COMPLETED REM CORPORATION BPO IN TWENTY MINUTES BY USING REALTY PILOT SOFTWARE

 

4359148315?profile=originalI am into my second month when it comes to doing BPOs as a real estate agent. I was told that it would be a great way to start breaking into the REO business. This is all new to me. I consider myself an expert when it comes to fixing and flipping homes as I continue to assist real estate investors. However, I want to use my skill sets to list bank owned properties.

 

I continually sign myself up to become a vendor for asset management companies on a weekly basis. I believe I have been approved by 23 companies to conduct BPOs. I sign up with five asset management companies per week. I would suggest that you Email point of contact each week until you are accepted BPO vendor. The squeaky wheel gets the BPO business.

 

I have to be pretty fast on the keys to accept BPOs. I accepted a BPO from REM Corporation. The first thing I do is take pictures of the property. Then, I come home to complete the comparative marketing analysis on the home. Finally, I give them my Broker Price Opinion based upon my report. That was the easy part. How am I going to transfer the data into the necessary fields to get paid for this BPO. ANSWER: REALTY PILOT SOFTWARE.

 

The hardest thing for me to do when completing a BPO with Realty Pilot is taking the pictures of the home. Are you serious? Yes, I am living proof. Realty Pilot populates data from my MLS into Realty Pilot. Then, I complete the BPO in Realty Pilot. Then, I hit the Macro button to transfer the data from Realty Pilot into REM Corporation web site forms. This whole process takes me twenty minutes or less by using Realty Pilot.

 

I AM READY TO DO MORE BPOS THIS WEEK. BRING IT ON!


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Ok Gang,I listened to the Blog Radio on 12/18 and even punched in to ask Jesse a question about signing up with all the Asset Management Companies. After listening to the show, I took Jesse's advice about utilizing Linked In and Facebook to our advantage.I was already doing something similar, which is how I found this group. Anyway, I typed in the name of a Mortgage Servicing Company that I've done Short Sales through. I proceeded to pull up their Linked In Employees and low and behold, I see two employees,(one an Asset Manager the other an REO Attorney), that I am connected to by the second degree. It seems that one of my good friends is the first connection with one person and the other person is connected to me by a group that I joined on Linked In.So naturally, I email these two contacts by using the "Request and Introduction" Method. I included an attention grabbing subject line, and introduced myself and informed them how we were connected. I proceeded to let them know that I am a member of Realty Pilot, the most innovative BPO/REO Traffic Controller, and that it is free to Mortgage Companies/Mortgage Servicing Companies Asset Managers.I then explain to them how they can be of assistance in helping me connect with some of the Asset Managers in their organization and introduce them to Realty Pilot and my REO Services.After I completed the mesage, I clicked on the "Notify Friend Button, so I could send "1st connected firend" a courtesy notice stating that I contacted one of her linked in connections.I know what they say about the Six degrees of Separation, and it seems that it can definitely be beneficial if you work it right.It's going to be interesting to see the type of results that we will get from this.
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56% we need 80%

Hi Members, Christian Broadwell of Realty Pilot has reviewed our coverage for the asset companies and we have a good start. The coverage we are missing are as follows: Arkansas, Colorado Denver area, Delaware, Hawaii, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan Detroit area, Mississippi, Montana, Nebraska, New Mexico, North Dakota, Oklahoma, Pennsylvania, South Dakota, South Carolina, Tennessee, Utah, Vermont, Wyoming We have 56% of the country covered for the asset companies but we need to have 80% coverage before several of these companies are willing to commit. If we have 80% then a constant flow of BPO's will be available. If you are interested in assignments from REOPro, please go to www.RealtyPilot.com and sign up. Don't forget to put, REOPro as one of your memberships.
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Ok, first off….I am not going to share this agents information with you. If he wants to speak up…he can. In other words, don’t ask….lol. I just got an email from Christian Broadwell with Realty Pilot alerting me to the fact that one of our members got a BPO and in return the REO. Now, so that we are clear, this isn’t a “REOPro” assignment so much it was a bank who has been using the Realty Pilot for some time and noticed their coverage is growing…ie, REOPro members and happened to release a BPO to that Zip Code where this member snatched it up, completed it and in return that bank asked him if he wanted the REO. My point is, Realty Pilot is working for our members and yes, it wasn’t a “REOPro” assignment however, the way the system is set up, you as a member could get any assignment for any of the partner banks that Realty Pilot is already working with. Yes, REOPro will be assigning BPOs, REOs and Short Sales soon but, in the meantime, you could potentially get assignments from other cooperating servicers, asset management companies and lender who have their own Asset Management divisions. Don’t forget, on December 16, Realty Pilot will be launching their “Activity Counter” so you as agents can also see where assignments are and how much business is going out per zip code. This is a revolutionary concept in this industry and really puts more power in the decisions making process back into the agents hand. Good luck guys and if you’re not signed up yet, I highly, strongly encourage you to do so. I fully expect REOPro ourselves will be sending out business soon. I know soon is such an ambiguous term but, that is all I can say now without spilling too many beans. Just know, I am completely confident this is going to happen and it’s just a matter of hammering down technology, which Realty Pilot is working very hard at doing.
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