JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans.
US Bank NA wants to force JPMorgan to buy back the mortgage loans because of alleged breaches of representations and warranties regarding the Bear Stearns Asset Backed Securities Trust 2005-4, for which it serves as trustee.
It also said JPMorgan has refused to provide the underlying loan, as the trust documents require, so it can investigate the extent of the alleged breaches [more]
ATTENTION REALTORS & CONTRACTORS!!
If you are a Real Estate Agent, Broker, Contractors or Property Management Companies looking to establish a business relationship with Chase to handle their significant bank owned properties, the best way to get started is by sending an email to REO.VENDOR@CHASE.COM
Check out some of the other REO applications we have. Free download to Network Friends. Not a Network friend?? Enter your email below and join us.
Does anyone know what type of follow up questions Chase asks during the REO conversation?
Hi! I subscribed but no password..HELP!!
Thanks. Email with passwords sent to you at 7:29pm. Let me know if you did not receive it 🙂
Atlas REO is one.
Hi maria how do you apply for NRT?
Joe Garcia
Realtor at Coast and Valley Estates
Oxnard, California
Thank you for sharing, I been accepted by CHASE…And only getting asignments trough NRT-REO Experts, do you know what other asset managers they use?
Hi Scott – At one time my 2 year old son asked me to call God one day when our car brokedown on 680 in San Jose. He even told me what he thought God’s number was and started to ramble off some number. We did make it home safely that night, which was 21 years ago. Scott if God was in your heart, you would know how to contact him. Like I said earlier, I’m not trying to offend anyone with my belife system. Call that 800 number 1st that was given in this discussion, keep putting in your hard work and efforts. Do a lot of BPOs and if you ever find God’s number, sit back have faint and Trust. Good luck to you buddy!
Interesting Fatima, let us know the best # to reach God at and how many REO’s on average we might be blessed to receive.
I thought Chase out sources all their REO assets to 3rd party companies?
Hi Adam – I going to take this to a whole different level and I hope not to offend anyone. Trust and believe in God and you will have favor in all your endevors. I knew I was a hard worker and I had been trying to break into the REO industry for years. I had a few conversations with God and last year, I was finally blessed to receive Chase REOs! Thank you Yah! Trust and believe, remain ethical, and don’t let the industry change you.
Hi Fatima- This Rosalie Rios and I witness your first REO Good Job now I’m trying to get back into it again and I hope this time its not too difficult, I’m praying to God as well but more prayers from others will help!!
Take Care
What a BLESSING to hear your Bold testimony of FAVOR. I too, am trying to break into the REO World… . and I will start having conversations with God about it.
This news seems exciting on the surface, but Joshua is on the right track. The “scoreboard” guarantees nothing insofar as to how many REO’s will be assigned to you. You must remember that Chase REO’s are still out-sourced to their contracted asset management companies and Chase does not tell them how to, or who to, give their assignments to.
Even if there was an assignment available in your area, you would still have to compete with other local Realtors who are in their database; and rest assured there are a ton of them.
This is not meant to discourage you, but to help keep things in perspective. New business comes from many different places. Place your efforts in the direction that will get you “near-guaranteed” results versus a “long-shot” gamble where the odds are not in your favor.
There is more involved then sending an email to get our REOs. Realtors are being scorecarded so that whoever closes business with a Chase LO will have a better scorecard and result in receiving our listings. Without a track record of closing business with Chase then there is a very slim chance that a new realtor get in to our REO program.
Joshua Claudio – Lending Manager at JP Morgan Chase, Dallas/Fort Worth Area
Joshua,
I am starting a property preservation company from scratch. What are the requirements (additional to the information that you provided above) that companies need to meet so that they may be eligible to join a banks’ REO program?
Hi Poncie, I wanted to say thank you for offering up this information. Do you have the application for Chase or do we just email REO.VENDOR@CHASE.COM to get an application. Thanks again for the help.
Adam
Hello Adam, yes, you need to email Chase direct. Also, see message from Raymond Tuong on January 3, 2012 at 5:06 pm above…
TrustedLatino
Thank you for sharing
Thank you for this very valuable information on Chase. I have been selling short sales for over 4 yrs and have a proven tack record, but would very much like to acquire an REO account, is there any suggestions you can give me?
Apply, apply, apply
Thank you for sharing
Great news Poncie! Let’s get fired up for 2012.
First one in to comment. THANKS for the scoop. I signed up on your newsletter, looks very professional. Well done. Again thanks for posting this info on Chase, I also sent them a note.
Thanks for your info. I just received the response from REO vendor from Chase after sending my resume. This is the following message from Chase:
“Thank you for your interest in doing work for Chase as a Real Estate Agent. Please call us at 1– 877– 584– 3290 between 8:00 am and 7:00 pm Central. At that time, a Chase representative will obtain your contact information in order to set up a follow-up conversation”
Is it a good start for me? Would you like to give me your advice when I have a conservation with Chase representive? Once again, very appreciated with your help!
Thanks and regards,
Raymond Tuong
God is going to bless you for helping other Agents. This is awesome!
Carol Rodriguez
Assistant to Poncie “The Most Trusted Latino”
I have one outsource company that handles Chase, do you think if I apply again I can get some others. Thanks for your info. Alina
Hi Alina, yes, Chase uses several outsourcers: New Vista, CoreLogic, ServiceLink, LPS, REOWorld just to name a few….
Apply to all of them 🙂