Posted by Linda Landry on October 9, 2009 at 3:15pm
No doubt this has happened to you more than once but it is my first experience.I have been networking with several lenders doing funding expo's and first timehome buyer workshops. I was pleasantly surprised this week when I was givena lead from one of them. Her LSR was complete and she was searching for arealtor being dissatisfied with her prior agent. She'd been shown the only propertyshe wanted and needed to see it again and most likely make an offer.Her prior agent said it was not worth either her or the agent's time to write an offeras it would be a back up offer and it was a short sale 'possibility' (ie: not yet lenderapproved). Naturally I was willling to assist her and I asked her if she'd signed aBuyer/Broker agreement and she said she had not. I wanted to ensure she hadn'tas if the transaction did go through there was no reason to ask for trouble. At anyrate we saw the property and we did write an offer for her. She also signed aBuyer/Broker agreement to work with me exclusively through the end March 2010.Why is this important? She is obviously a motivated buyer and there is a greatpossibility she will not obtain the property she has her eye on. However, if shedoesn't I am the agent ready, willling, able and signed on to work with her. BTW,she is renting and her lease expires the end of November and she can only gomonth to month for 90 days. Sweet!
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Posted by Monica Oakes on October 9, 2009 at 5:56am
Back To The Basics..Should I or Shouldn't I.From REO Agent,Loan Modification Specialist,Short Sale Specialist and beyond where do you fit in?Are you in the so-called Thick Of Things...I know you ask what kind of question is this....The kind that says where do you fit in and what should you do if you don't...For those that are not in the "The Thick of Things" what should they be doing.I say Back To The Basics.What are you doing to promote yourself in this market.What about the traditional farming or knocking on doors...Remember that?I remember when I first started out as a Newbie (you know that is what new agents are called).I had to start with my personal contacts and let them know what I was doing and even put them on a drip campaign.Did that work? Yes it did...I called my local Title Company and asked for a list in a certain area.This was farming...I know this is not funny but I have not seen a postcard come to my house in years.Have you?What are you doing to get in the Thick of Things?I am going back to the basic....Where are my walking shoes?
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Posted by Monica Oakes on October 8, 2009 at 6:40am
I remember when my Grandmother would go in the kitchen and get a knife to sharpen the other knife...She would rub them together the make them sharp.To my surprise being a child at that time it was amazing how they cut so much better.Saying this to say sharpen your skills by reading the daily market news.In these times I say go back to the books and you might even have a Realtor friend or mentor that you can tag along with who is doing great in the market.Sharpen your skills like my grandmother sharpened her knives.I remember when the market was somewhat like this and I was a newby I would read the market and started signing up with the REO Companies before alot of agents did..So it is wise to see what will be the next big thing in Real Estate and learn it....There are so many free classes at your boards take them and learn from them....Be Blessed,Your Realtor Monica Oakes
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I just received a mass email from America Buys Foreclosures as part of their regular newsletter. Just so you know, I never asked to be on their mailing list.....at least I don't think I did but, either way.
In the headline of this blog, is the actual quote signed by their CEO Janisse Dale. Just in case you didn't get the mass email, here it is, in its entirety....
our staff has been working tirelessly in securing the bank contracts. The fact that it has taken ABF a longer than expected period of time to release listings has enabled us to develop bullet-proof systems to ensure that we will be in business for the duration of the foreclosure crisis which is predicted to last 7-10 years.
Indeed ABF does not control the REO market or our client's inventory. As each lending institution has foreclosures in different areas, we are unable to predict exactly when we will receive foreclosures in your zip codes; however, we are nationwide and currently working with 600 banks/lenders. You will receive an email when a listing is assigned to you.
With that being said, I have instructed the Support Department to no longer take the time to answer the small number of agents who continually ask "When will I get a listing?" Our Support Department is here to support agents with our REO program, training, account issues or any issues that need resolution.
We are very excited about the future of ABF and are looking forward to getting the listings assigned.
Best Regards,
Janisse Dale, CEO
You can draw your own opinions; I want to be as fair and balanced on this as I can. However, in my opinion, this did nothing but add fuel to the already burning flame that Janisse states herself, agents are out their asking, "When will I get a listing?" or more correctly, "When will you refund my money?"
The other problem I have with this broadcasted message is that she is under the impression that an agents concern that they (ABF) isn't living up to their end of the bargain isn't an issue that needs resolution, WTF?
Last but not least, I am astonished that Janisse does nothing to re-assure us, the Default Industry, you and me that they have secured any bank accounts at all. In fact, she merely justifies their lack of accounts by stating that they are working tirelessly and it's taking them longer than expected however, ABF agents are still spending monthly cash on a system that even now, apparently doesn't work!
This message sent out by Janisse is more a shameless attempts to hand slap all those bad agents that are asking questions than it is providing answers. In fact, it doesn't seem their stance has changed any from, 6-7 months ago till now.
WOW! What happened to customer service and seeing your members as your boss, they pay for your livlihood people and should be treated as your number 1 asset, BECAUSE THEY ARE!
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The race is on to get FTHBs in contract....Negotiations continue for extension. What do you think? Will they extend this successful program?Any thoughts on why the Gov would end this type of insentive just as real estate is heading into the winter months which are slower for most areas outside the Southern states?Anticipated home sales have increased for seven straight months, the longest upward run since the National Association of Realtors (NAR) began its pending sales index series back in 2001, and now at its highest level since March 2007.NAR said Thursday that its forward-looking measurement of closed sales on existing-homes, which is based on contracts signed in August, rose 6.4 percent from July’s reading and is 12.4 percent above this time last year.Lawrence Yun, NAR’s chief economist, cautioned though, that not all contracts are turning into closed sales within the expected timeframe. “The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules,” Yun said.Yun agrees with many other market observers that first-time buyers are rushing to put pen to paper to beat the deadline for the $8,000 tax credit, which expires at the end of next month. This run could very easily result in inflated pending sales numbers that don’t make it to the closing desk in time.Prospective homeowners in the western region of the country are the most eager to sign the dotted line, where distressed assets and plummeting property values make for extremely attractive deals. The pending sales index for the West surged 16.0 percent in NAR’s latest study.In the northeastern states, anticipated sales jumped 8.2 percent. In the Midwest the index rose 3.1 percent, and in the southern part of the country, pending home sales increased 0.8 percent.“Perhaps the real question,” Yun said, “is how many transactions are being delayed in the pipeline, and how many are being cancelled?”Yun also noted that the data sample coverage for pending sales is smaller than the measurement for closed existing-home sales, so the two series will never match one for one.Yun said the forecast for home sales and prices depends very much on whether a tax credit is extended. “All we can say for certain is sales will decline when the tax credit expires because we are not yet on a self-sustaining recovery path. It also raises a risk of a double-dip recession,” he said. “Extending and expanding the tax credit is the best tool in our arsenal to encourage financially qualified buyers to stimulate the economy.”
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This artice was sent to me by one of the MLS services we belong to. The source is: Realty Times - Bob Hunt, NAR DirectorI am certain that this will be of interest to anyone who does Short Sales.One reason that many real estate agents are less than enthusiastic about short sales is that, too often, a commissionectomy may be involved. By demanding a certain amount of net proceeds, the lender effectively cuts the commission that had been stipulated in the listing agreement. (To be sure, since March 1, 2009 Fannie Mae has prohibited its servicers from cutting short-sale commissions below 6%; and, as of August 20, Freddie Mac announced the same policy. But not all loans are held by those agencies.) Brokers and agents should be pleased, then, to learn of a recent court case that awarded a broker's commission when a lender sought to cut it just before closing.Thanks to the legal department of the National Association of REALTORS® (NAR) for bringing to our attention the Iowa appellate court case of Stewart v. All States Quality Foods. In that case, All States' lender, Highland Crusader Offshore Partners (Highland), was calling the shots on the short sale.Broker Larry Stewart and Iowa Realty Commercial had a joint listing agreement of a property owned by All States. The listing began in August of 2001, and was extended a number of times thereafter. At some point Larry Stewart Realty became the sole listing agent. The agreement called for a commission of 10% of the first $500,000 of gross sales price.In January of 2003, Stewart found a tenant for the property. The tenant took a five-year lease on the property and also obtained a right of first refusal in the event All States received an acceptable offer during the lease term.By May of 2006, All States' financial difficulties became such that its secured lender, Highland, sent a representative, Harold Kessler, to wind down the business of All States. Shortly thereafter Stewart, who still had a listing, received an offer of $120,000. Under the direction of Kessler, the All States manager signed a counteroffer of $140,000 which was accepted. Stewart prepared a net sheet showing proceeds to the seller of $105,982. On August 1 the tenant exercised its right of first refusal and agreed to purchase the property for $140,000.On August 24, Stewart informed the seller and the lender that the tenant was ready to close. At that time, Highland, the lender, indicated for the first time that it would not accept net proceeds of less than $130,000. Even though Stewart offered to cut his commission by 10%, the lender would not budge. The sale fell through.Stewart filed suit alleging breach of contract and intentional interference with contract. He claimed he was owed a commission because he had provided a ready, willing, and able buyer. The trial court agreed. Highlander filed an appeal.The appellate court affirmed the award. Highlander knew of the listing contract and the commission amount. It certainly had the right to ask Stuart to cut his commission, the appellate court confirmed, but not after the fact of the counteroffer. At the point of counteroffer Highland should have disclosed that they would not release the lien for less than $130,000. By not disclosing that, they misled Stewart into continuing to work on the transaction. The court found that "Kessler and Highland Crusader were engaged in a 'two-step process' of first securing a purchase price and then squeezing out as much net proceeds as possible.Now, this case doesn't mirror the facts of every short-sale commission squeeze, nor does it have authority outside of Iowa. Nonetheless, it presents a commission-reduction scenario that is similar to many short sale situations. Moreover, it may suggest a strategy that will be found useful by attorneys representing brokers and agents who have had the squeeze put on them. nced the same policy. But not all loans are held by those agencies.) Brokers and agents should be pleased, then, to learn of a recent court case that awarded a broker's commission when a lender sought to cut it just before closing.Thanks to the legal department of the National Association of REALTORS® (NAR) for bringing to our attention the Iowa appellate court case of Stewart v. All States Quality Foods. In that case, All States' lender, Highland Crusader Offshore Partners (Highland), was calling the shots on the short sale.Broker Larry Stewart and Iowa Realty Commercial had a joint listing agreement of a property owned by All States. The listing began in August of 2001, and was extended a number of times thereafter. At some point Larry Stewart Realty became the sole listing agent. The agreement called for a commission of 10% of the first $500,000 of gross sales price.In January of 2003, Stewart found a tenant for the property. The tenant took a five-year lease on the property and also obtained a right of first refusal in the event All States received an acceptable offer during the lease term.By May of 2006, All States' financial difficulties became such that its secured lender, Highland, sent a representative, Harold Kessler, to wind down the business of All States. Shortly thereafter Stewart, who still had a listing, received an offer of $120,000. Under the direction of Kessler, the All States manager signed a counteroffer of $140,000 which was accepted. Stewart prepared a net sheet showing proceeds to the seller of $105,982. On August 1 the tenant exercised its right of first refusal and agreed to purchase the property for $140,000.On August 24, Stewart informed the seller and the lender that the tenant was ready to close. At that time, Highland, the lender, indicated for the first time that it would not accept net proceeds of less than $130,000. Even though Stewart offered to cut his commission by 10%, the lender would not budge. The sale fell through.Stewart filed suit alleging breach of contract and intentional interference with contract. He claimed he was owed a commission because he had provided a ready, willing, and able buyer. The trial court agreed. Highlander filed an appeal.The appellate court affirmed the award. Highlander knew of the listing contract and the commission amount. It certainly had the right to ask Stuart to cut his commission, the appellate court confirmed, but not after the fact of the counteroffer. At the point of counteroffer Highland should have disclosed that they would not release the lien for less than $130,000. By not disclosing that, they misled Stewart into continuing to work on the transaction. The court found that "Kessler and Highland Crusader were engaged in a 'two-step process' of first securing a purchase price and then squeezing out as much net proceeds as possible.Now, this case doesn't mirror the facts of every short-sale commission squeeze, nor does it have authority outside of Iowa. Nonetheless, it presents a commission-reduction scenario that is similar to many short sale situations. Moreover, it may suggest a strategy that will be found useful by attorneys representing brokers and agents who have had the squeeze put on them.
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Posted by Alison Polson on October 7, 2009 at 6:56am
Good day all you happy REOPRO members,I have had a company contacting me a few times over the last week or so and I wanted to run it bay the group.Has anyone heard of REO Direct Partners ?If anyone could give me some feedback before I go and sign up with them would be wonderful.Have a great day,
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Does your seller have a “TRUE HARDSHIP?” or have they just made many bad financial decisions?In our office we are finding out that the hardest thing that we are encountering when processing a short sale is not that we have to make multiple phone calls to the banks, collect docs, list the property for sale or even find a buyer, It’s submitting a true Hardship letter to the bank.Yes, the banks dangled a big carrot to the borrower and many took it. Whether it was in the form of a new loan or a cash out re-fi when the market was at its most profitable, we are finding more and more borrowers that want to get bailed out for their poor choices than borrowers who have a legitimate hardship. What do you do in cases like these?1.Pre-Screen your client. This is the best way to save time and money.2.After pre-screening your client, ask yourself if they are a true candidate for a short sale. If your screening process does not easily recognize a hardship, your client may not be a candidate for the bank or your company.3.Short sale candidates should be highly motivated to go through the short sale process. If you are chasing your client for needed docs, signatures and information at the beginning, you will be chasing themt all the way through the transaction.4.Know your self worth. Remember time is money and although your heart is in the right place for helping someone in need, you are in business to make money & earn a living. Many agents are not being compensated up front for the short sale service. It may take 90-220 days before you see your commission check and if the bank rejects the short sale, you may never get compensated for your labor or even receive a "thank you". Choose the client wisely.So what is a “true hardship?” Involuntary loss of job. A serious long term illness. A divorce is a hardship. Bankruptcy and Death are also hardships.Is anyone else getting their short sales approved that aren’t in these categories? Please let me know and feel free to comment on the above.
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Before and After Photos Are ImportantHow often do you make it a priority to take before and after photos? Well, make it a priority.Whenever you are assigned a property, make sure you take lots of before and after photos of every aspects of the property. Before and after photos is your proof that the vendor provided the services and that you are truthfully submitting a legitimate invoice. You should also take many photos from different angles, and turn on the time and date stamp located on the camera. Label each photo so it would accurately define the areas of the property.As a rule of thumb, take before and after photos for the following:House Exterior – all sides of the property exterior and a minimum of two shots each.Yard - Front, back, both sides, and street view. Take photos of ALL irregularities in the yard including debris, damaged area, pipes, sewer drains, etc.Electrical Units – Take photos of the HVAC, fuse box, all damaged electrical outlets, wiring entering the house, and other damaged electrical items.Appliances – internal and exterior photos of all appliances.Water Pipes and Devices – take photos of the laundry room inlet and outlet (drainage), water tank/heater, etc.Gas/Oil tank – take photo of all sides, gauge, connection line, meter reading, etc.ALL Rooms – Clean photos should be taken of all rooms in order for easy labeling. Photos of the closet interior, overhead lights, windows, carpet, walls, tiles, and doors. There should be a minimum of eight photos for each room and at least five photos for each bathroom in the house.Kitchen – Above and below the sink, clean photos of the cabinets, countertop, kitchen floor, and areas where appliances use to be. Depending on the setup, you may need to take photos from different angles.Basement – Usually the dampest section of the house need many photos. Take photos of the foundation, walls, ceiling, pipes, windows, doors internal and external, all damaged areas, etc.Repairs – Take before and after photos of ALL repairs and lawn work regardless of the type and cost. It is better to be proactive with your photos than to be reactive, it will be too late and often harder to prove that the property was in worst condition prior to your completing the work.I also advise that you keep and maintain a work order list for all vendors. The vendor should be required to add the work order number on all property invoices, and your bookkeeper/assistant should reference the work order on all REO Expense submission to the bank for payment. Having a system trail is important.If you have any questions regarding the photo requirements of the bank, always check your REO manual/guideline. Remember, it is better to be proactive and not reactive. If you don’t have the proper photos, you will not get paid.
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Get it in Writing!How many "Denied Payment" does it take to get it right!When working with REO properties, you need to be very cautious when it involves being paid. Do not take for granted that the Asset Manager or representative will remember your conversation or have made a note in their little black book. The sad fact is that most, if not all, handle hundreds of properties and answer questions and emails regarding those properties on a daily basis. At this point, you are a number in their system and not at the top of the "thing to remember" list.If an Asset Manager or Representative calls and are requesting information or requesting that you perform a duty, GET IT IN WRITING! Too often, Brokers and Agents are so ecstatic to get the chance that they fail to create a paper trail that will guarantee payment. If the email or fax never arrives, send a email to the individual with a summary of the conversation. Ask him or her to confirm the request. If you do not receive a response, do not do the work.Never email the Asset Manager or representative outside of their portal if a portal is being used. Once you email them outside the portal, the conversation is most likely not considered acceptable because there will be a disclaimer listed in your service agreement and on the website regarding emails. PAY ATTENTION TO THE POLICIES! Also, just because the note is in the portal today, does not mean it will be in the portal tomorrow. Consider capturing the screen information for your file for backup purposes.If an Asset Manager or Representative requests repair, especially costly repairs, get the request and approval in writing (NOT YOUR WRITING). Do not try to store the information in your memory bank, GET IT IN WRITING! Too often repairs requests are asked to be completed by the brokers and agents without full approval from the seller/clients. If the client does not approve the invoice and the Asset Manager or Representative approves the request prematurely, you will not get paid. Having the request and approval in writing will provide a solid legal foundation in case you have to file a mechanical lien on the property or a claim against the asset company. Know the law for your area.When submitting your invoices, make sure you include a copy of the email with the pre-approval attached. If you have to submit the original invoice to the bank of reimbursement, include a copy of the pre-approval email along with the conversation to alleviate any doubts.Never assume that the conversation will be remembered and/or your invoice will be paid. After all, if the invoice is rejected, you will have to pay the vendor and/or suffer the loss.Carolyn Nelson www.onlinerepa.comRead more…
Blog or not to Blog? We all have asked ourselves this question at least once. And if you decided to blog or if you are going to blog, be aware for the new regulation from The Federal Trade Commission. Basically if you are blogging about something that you are receiving any compensation, you have to disclose. Going further, be sure to indicate that your opinions do not reflect your company's opinion about a topic or anything. Some may say it is one more government intervention. What do you think?
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As we’re all aware, more often than not lenders deny borrowers’ loan modification requests, but would entertain short sale proposals and other times they’d rather take the property back in a foreclosure. It all comes down to what is most profitable for them and not to the homeowner!When an investor/lender does modify a loan, and perhaps even a reduction in principal-balance, it still retains the note and because of the modification, prolongs the number of years yet needed to even make up for the loss provided the borrower keeps making the payment as scheduled. And there still exist a good chance of re-default. Assisting homeowners with this approach is not a money maker for the investor, for sure, unless they get off the note!Just recently, I heard about lenders willing to do short refinances. Seemingly, it allows the owner/borrower to short refinance with a NEW lender at 90% max. LTV of its current market value, qualifying them on high debt-to-income ratios. It is accessible to those homeowners with good credit and an ability to pay for a new loan with verifiable income who could not otherwise qualify for a loan modification.It is not a cure for all, but for the most part, it presents a window of opportunity to large number of homeowners. And the incentive for a lender to do a short refinance is the shorter time frame to recuperate some of their capital as well as cutting losses to minimal with no chance of re-default. As it appears, Wells Fargo and GMAC are the two advocates among handful of other lenders (and growing) in position to cooperate with homeowners to allow short refinances. And we all know too well, when one does it, others follow.Is this the ultimate resolution to avert foreclosure - the last stop?
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Hi, I was talking to some of the new REO agents in this network and other blogs, and I also see this in the new agents in my office and some agents that I have folded, sometimes we go commission check to commission check and we don't save anything or even worth we don't re-invest in our business to make it grow and take it to the next level.I know times are hard and some of us are struggling at times and have some bad months or bad quarteres, even bad years, but I think the key is planning. After a year in real estate I decided to become a business owner not just a company employee, I was a new agent in a very good Real Estate company, and I was there in the office all the time, waiting for walk ins and phone calls, giving my broker half of my commission.Back then I read "The Richest Man of Babylon" and one of the important points in the book was to pay our selves 10% of our earnings, but that doesn't mean to go to the mall and purchase the new outfit, take the nice vacation trip, the new fancy car, etc. But intead re-invest that 10% back in the business so the business can grow, there are many ways that some people reinvest in their business like marketing, gifts, salaries, rent, utilities.To me those are just necessary business expenses, and I usually budget 30% to 40% of my gross business into that, to keep my business doors open, but I invest 10% on my personal growth, that is education (classes, books, conferences, etc), networking, boy that is so important, I honestly think that it is more important who you know rather than what you know.I heard somewhere that in this business 7% of the agents make 97% of the money, I want to be in that top 7% and I am on my way, in 4 and half years in the business I have gone from an employee, to franchise owner/manager to be partner partner of Central Realty and be able to adjust to times and have my business doors open through the bad times and preparing to florish in the upcoming good times.But one thing is constant in my business, I always reinvest 10% on growing my business.
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I closed on a regular sale last week. Yes a good old regular deal, no short sale or REO, but I learned something that everyone should be aware of. Apparently, we now need to let our buyers know that not only will the porperty get appraised, but it will most likely get appraised twice.Since the appriaser gets chosen randomly and is not necessarily someone who knows the area, the appraisal may be inaccurate. The house was selling for 749K and got appraised for 649K. The appraiser did not use good comps and was not willing to add notes or use better comps. Sure, he doesn't have to, but what ensued was horrifying.The bank decided that the appraisal was too low and ordered an automatic appraisal where the numerical information just gets plugged in. It's called a Lara Appraisal. My mortgage person said that these appraisals are known to be inaccurate. Banks don't usually go by them.Well, the second appriasal came in at 549K. Now keep in mind that the buyer was only borrowing around 450K. You would think that this is not a problem if the buyer wants to move forward. Well now the buyer's LTV changed and the bank wants to charge points or raise the interest rate. Neither was acceptable to the buyer. (Keep in mind that at this point the buyer is wondering whether or not he should be paying $200K more than the bank is saying the home is worth.) In order not to lose the deal, the buyer's agent agreed to pay their .25pt.Now we are at the closing table.The buyer is going over their HUD and notices that they were charged for a second appraisal. They were charge much less than the original appraisal, but this was a difficult deal and they were not in the mood of paying another $150. That started a whole debate at the closing table.A second appraisal is now going to be very common. The banks are using them to verify the 1st appraisal in case something was amiss with the appriaser. Go figure. Appraisers are chosen randomly and now that is still not good enough. I now warn all my buyers to be prepared to pay for 2 appraisals.
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I expected, like most others, that everyone would be announcing the success of the REOMasters Network charity fund raiser, "Club Tsunami" at the FiveStar Conference in Fort Worth.But since I haven't seen it posted elsewhere,REOMasters Network raised $27,000.00 for the Foreclosure Angel Foundation from the Club Tsunami event (City Streets Club, September 21st - Ft. Worth).Thank you to all who attended and/or participated. A great time was had by all and a very worthy charity organization was greatly served and supported.Please continue to stand with us as we gather the very best of REO agents, march forward and become a piece of the solution.There's much more to do, and none better to do it with, than YOU!Best of good fortune,Clay
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I just receive this from REOTrans:LOS ANGELES, CA - October 5, 2009 - REOTrans announced today it will be changing its name to Equator. The reason for the name change is to facilitate the expansion of its technology solution. Since its inception in 2003, REOTrans has grown beyond REO automation to become the epicenter of the Default Servicing Industry. The name change is scheduled to take place at the end of Q4, 2009."The founding principles that have earned our client's trust will remain, the only thing changing is the name," said Chris Saitta, CEO of REOTrans. He went on to say, "Growth requires change, to enable our growth we're changing our name to Equator." The company chose the name to represent its scope and purpose. The Equator is comprehensive yet precise and a point of change. It's also rich in metaphor to help communicate and perpetuate the company's identity.REOTrans currently provides a comprehensive technology platform that automates and connects the Default Servicing industry. The platform includes a configurable workstation, vibrant marketplace, transactional web site and a borrower self-service portal. It automates everyone's daily process while connecting them and their disparate systems in a safe and transparent ecommerce environment.Currently 51 Mortgage Servicers, 15,000 Default Vendors and 625,000 Real Estate Agents use the platform to manage over 150,000 transactions daily. There has been over $65 billion in foreclosed real estate sold through the platform.For more information contact REOTrans at 310-469-9500 or email info@reotrans.com.
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I would love to have a blog going that talks about the GOOD GUYS in REO--here I'll start. . .Raising my glass to servicers passing on cash offers in favor of OWNER OCCUPANCY!!! One of my favorite servicers is working towards an 80% owner occupancy in accepting offers. It is fantastic to be able to tell black and blue buyer's agents that their FHA buyers have a chance with these listings.Three cheers for:Agents who keep the lights on!Property preservation companies who know that a DEADBOLT goes above a doorknob, not another doorknob!Agents with 100% CFK rates--no evictions, please. It is just plain embarrassing.Local listings for local agents--if you have to fly to do a property check, it is just plain too far--don't accept it.Signage and lockboxes--the basics never hurt.Chime in if you have one--we could all use a little positivity here.
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