Sticky: BofA REO Outsoucing to USRES


ATTENTION Bank of America REO agents! USRES REO is servicing assets for Bank of America. If you handle Bank of America properties contact USRES (email provided) or be sure to sign up to USRES below.

USRES REO asset management division handles thousands of new referrals each month and expedites liquidation through efficiencies gained by utilizing experienced and motivated staff, class leading technology and superior customer and vendor support. USRES has always, and will continue to invest heavily in technology, staff training and preparation for shifts in the market. Their management team is composed of seasoned lending and real estate professionals with an extensive aggregate experience in all facets of REO management, real estate valuation, loss-mitigation, real estate sales, closings, and property management. Create your FREE REO profile at www.zillow.com

Whether you are a Broker/Agent, Contractor, Appraiser, Investor, etc… Join USRES Network of Service Providers.


Click on the link below to apply.

 

 

bn-apply-here

 

 

NOTE: You will need your poncie.com Network password. Do not have one? Enter your email in the “Subscribe Here” box (top right) and request a password. It’s free for Real Estate Brokers/Agents and always will be.

NOTE: Please allow up to 24 hours for a REO Application Network PASSWORD via email. Be patient

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LT

51 comments for “Sticky: BofA REO Outsoucing to USRES

  1. Myra Beams
    December 26, 2012 at 8:25 am

    Acording to the Bank of America Resource Center, USRES is no longer an outsourcer for Bank of America.

    Posted by Myra Beams
    Broker/Owner, Coastal Living Realty
    Fort Pierce, Florida Area

  2. George R Gamble, Jr
    December 26, 2012 at 8:23 am

    USRES LOST the B of A account the end of November.. they pulled all their assets and USRES laid off most of their REO Division.. I had several in process w/them.. it was a nightmare

    George R Gamble, Jr, GRI
    REALTOR/Broker Associate
    CENTURY 21 America’s Choice
    West Palm Beach FL

  3. Matt Fiskland
    December 26, 2012 at 8:22 am

    I was an AM for USRES this info is outdated. BofA pulled their assets from usres a month ago. Just a heads up.

    Matt Fiskland

  4. russell
    May 16, 2012 at 8:58 am

    i am very interested in handling bank reos

    • May 16, 2012 at 6:37 pm

      Hi Russell, subcribe to our site and start applying to REO. Click on the REO application link on the left column. NOTE: You will need your poncie.com Network password. Don’t have one? Enter your email in the “Subscribe Here” box (top right) and request a password. It’s free for Real Estate Brokers/Agents and always will be. Please allow up to 24 hours for a REO Application Network PASSWORD via email. Be patient

  5. May 1, 2012 at 8:32 pm

    Another example of companies banking on real estate professionals working for free in “hope” of getting REO listings. We need to get the word out, so these predators can be stopped.

    Posted by Annette Whitehead
    REO Division/Distressed Property Sales Team Leader at Realty Associates Florida Properties

  6. April 30, 2012 at 1:22 pm

    Thank You I will try again. Do you have any suggestions to get on the Bank of America Preferred Broker list.
    I have applied to them. I am on there short sale approval list.

    Joan Sambuchino Broker/Realtor
    ABR, E-Pro, RECS, SCFS,CDPE
    Five StarCertified in Short Sales and Foreclosure.
    RE/MAX Island Realty
    99 Main Street
    HHI SC 29926
    cell 843-422-4698

  7. April 30, 2012 at 11:56 am

    My experience with USRES is that I’ve done many Free BPO’s for them and I’m still waiting for a REO. I’ll be glad to join RES-NET again, but I’ll wait until I get a REO from USRES.

    Posted by Robert Fine
    Hands-On Accomplished Real Estate Practioner
    Greater New York City

  8. April 30, 2012 at 11:54 am

    Awesome!!

  9. April 27, 2012 at 12:15 pm

    Poncie,

    I am concentrating on Walnut Creek to Pleasanton my license is currently with PMZ and I’m gaining momentum as a buyer’s agent. I would like to begin branching out to acquire REO business. Are we still initiated to REO status through multiple BPO’s, I find that really zaps the time that I need to be spending with clients. I am little out of the loop as we have only a sprinkling of short sales and REO properties. We have less than two weeks inventory here unless the buyer is above $800K it is a bit of a challenge to find a house that doesn’t have 30 offer’s on it so I would love to have another avenue for generating listings/buyers in a more affordable price range.

    Thanks, Poncie

    Sharon Adams
    Realtor®
    PMZ Real Estate
    350 Main Street, Ste H-4
    Pleasanton, CA 94566

  10. April 25, 2012 at 12:56 pm

    USRES is an asset management company directly connected with res.net. They do not pay for BPO’s with the hopes that you may get a listing in the future. I have done over 30 bpo’s for them and then I stopped because it was not worth the time. I did get one listing from them, but I prefer other servicers or direct clients that pay for bpo’s.

    Posted by Dennis Sanchez
    NJ Events Organizer at NYC Latino Professionals Meetup
    Greater New York City

  11. Laurel Jaques
    April 24, 2012 at 9:04 am

    USRes says on the website that you they currently have a portfolio ratio of 15 free BPOs to every listing. Have you found this to be true? That’s an awful lot of free work for each REO listing…Or do you feel it’s different if you are already a BofA agent? (I am)

    • April 24, 2012 at 9:14 am

      I have never done a BPO for USR. I am getting BAC listing thru USR on Equator.

      • Laurel Jaques
        April 25, 2012 at 9:53 am

        Nice! I’m in!

  12. April 23, 2012 at 6:46 pm

    Do you already have to be an REO agent to sign up?

    Patty Ortega
    Real Estate Consultant
    Call/Text: 209-565-3668
    E-mail: pattyortega@kw.com
    E-fax: 209-992-4079

    House Hunt at: http://pattyortega.kwrealty.com/search/

  13. Robin Corsentino
    April 23, 2012 at 5:56 pm

    Hi Poncie,
    Is this Equator?

    Posted by Robin Corsentino
    Owner/Broker at Robin L. Corsentino Realty
    Fort Myers, Florida

    • April 23, 2012 at 5:57 pm

      yup

      • Laurel Jaques
        April 24, 2012 at 9:00 am

        Are you saying USRes is Equator?

  14. Anita Holt
    April 23, 2012 at 3:23 pm

    Still waiting for my USRES REO assignments, it’s been a whole week!

    Posted by Anita Holt
    Realtor, SFR, REO Certified at Century 21 New Heritage
    Greater Chicago

  15. April 23, 2012 at 2:54 pm

    They accepted me 2 years ago, I have not heard from them since. That makes me wonder what they are doing. I have heard of their shift to Res-Net

    Posted by Roger DiRuscio
    Sales Broker Associate at R E Realty Experts
    San Francisco

  16. April 23, 2012 at 1:38 pm

    Yes that is correct you read that one right on the button and my answer is no way NO WAY NO WAY NO NO NO…. I must make a living and that will not happen if I work for free… If they are willing to work for free then tell me how they are paying the bills putting food on the table gas in the tank????

    Posted by Laura Filip Broker
    Broker and REO Specialist, TLF PROPERTIES INC
    Sherman/Denison, Texas

  17. Maria
    April 23, 2012 at 1:35 pm

    Poncie,

    You are one of the most unselfish people out there. Thank you for sharing your knowledge!

    Maria
    NAHREP Vista

  18. April 23, 2012 at 1:32 pm

    Don’t get too excited…I have done BPO’s for this company…Very nice people you don’t get paid for the BPO’s and I have never rec’d any listings.. Something to think about.

    Posted by Jennifer Ruspini
    broker at Ruspini Realty, llc
    Greater New York City

  19. Mary LePage
    April 23, 2012 at 1:25 pm

    THEY REQUIRE YOU TO DO BPOS FOR FREE TO GET LISTINGS?? BUT GIVE NO GUARANTEE?

    Posted by Mary LePage
    Realtor at Preferred Properties
    West Palm Beach, Florida

  20. April 23, 2012 at 1:21 pm

    Get ready for the FREE BPO’s in Hopes of getting 1 listing for every free …

    Posted by Jay Pegram

  21. Toni Campbell
    April 20, 2012 at 5:49 pm

    I have been dealing with short sales and am CDPE certified. What is the best way to get started in REO’s? Most of my sales are in short sales and REO properties since I specialize in Central Florida and the Orlando area. Thank you for your help.

    Posted by Toni Campbell
    REO and Short Sale Real Estate Specialist
    Orlando, Florida Area

  22. Liz Lockhart
    April 19, 2012 at 1:23 pm

    You mean it is not enough to have a Professional AMP membership on Res.net?

    Posted by Liz Lockhart
    Owner; broker/officer at Riverbend Realty
    Cape Girardeau, Missouri

    • April 19, 2012 at 1:36 pm

      Bank of America REO does not use res.net. You need to be a member of Equator. If USR issues you a BAC property, it will be via Equator, not res.net. Although, you will have task on both res.net & Equator.

      • Liz Lockhart
        April 19, 2012 at 4:11 pm

        OK. I’m on both.

        Posted by Liz Lockhart

  23. Paulo Silva
    April 17, 2012 at 7:05 pm

    We do board-ups, clean-ups repairs and 203k’s in NJ if you guys need for all the listings you have:) SilvaAndAssociates@aol.com

    Posted by Paulo Silva
    Owner, Silva & Associates Real Property Management
    Greater New York City Area

  24. Randy Teal
    April 17, 2012 at 9:18 am

    Hello Poncie,
    Thanks so much for the information and service you provide to this forum.
    Thanks,
    Posted by Randy Teal

  25. April 16, 2012 at 5:03 pm

    I am belong to several LINKEDIN chat sites, that is how I found you. Most of the discussions are “HOW TO GET REO BUSINESS”…I have been fortunate enough to have over 4 REO Bank/Asset accounts and have received several REO listings. I can tell you I have handled and experienced EVERYTHING there is to an REO asset. There is nothing I can’t do, and there is nothing that would shock me….However, to date I can tell you the REO business is nil to none…I am located in Southern California where our market is hit hard….there are plently of vacant properties, and I receive daily notifications on the most recent trustee sales…yet I have no clue who is getting this REO business. The new wave is large investment companies are buying properties straight from the Bank/Asset companies in large bulk, and therefore eliminating future REO business. Even, or should I say especially Fannie & Freddie have jumped on board. All of my REO collegues are experiencing the same situation. What is your take on future REO business? I think we all need to get back to the basics and just sell regular Real Estate.

    Posted by Tami Stark

    Realtor, REO Specialist at Keller Williams Rancho Cucamonga
    Greater Los Angeles Area

  26. April 16, 2012 at 1:50 pm

    To be considered for an REO Agent for USRES, you must agree to perform free BPOs. I performed approximately 30 freebies before I started getting listings. If you do not agree to perform free BPO’s, then you will not be considered for listings.

    Posted by Dwenda Everson

    • Grace Ruud-papadopoulos
      April 21, 2012 at 9:05 am

      I perfomred many BPO’s with the promise of a listing however this never happened. Instead I am paid for the BPO’s.

  27. April 15, 2012 at 10:08 pm

    Through Res.net, I have the AMP Professional Membership. I have yet to receive a listing or other assignment. There are one or two agents that get all the REO listings in our rural area. I am beginning to think I have invested time and funds without any results. I am very qualified and have been the buyers agent on many REO properties. I do not thihnk I will renew next year…

    Posted by Kelly Hiatt Thomas
    REO Specialist/Listing Agent with Equator.com at Equator, LLC

    Roanoke, Virginia Area

  28. Rick Martinez
    April 15, 2012 at 10:07 pm

    Thanks for the info

    Posted by Rick Martinez ABR, CRS, GRI, CHMS, SFR, SRES, ALHS

    Realtor at RE/MAX Cinco Ranch

    Houston, Texas Area

  29. Ferris Anderson
    April 15, 2012 at 9:25 pm

    Thanks for the tip

    Posted by Ferris Anderson
    Real estate broker & REO Listing agent
    Jacksonville, Florida Area

  30. John Bancey
    April 14, 2012 at 3:28 pm

    Poncie, I have allot of Buyers looking to pick up some REOS can you help me or point me in the right direction? We need the in North and Central New Jersey…John Bancey (908)-577-8184.

    • April 14, 2012 at 3:31 pm

      I’m in California John. Network with REO agents from NJ and try to get REO companies that service NJ and market them.

  31. April 14, 2012 at 8:34 am

    Thanks for your email and newsletter update. I am still hoping to get the B of A REO listing assignment in the future. I haven’t gotten any opportunity from any outsourcer yet.

    Regards,
    Kenneth Young
    Bay area USA Realty and Loans
    SF area

  32. April 13, 2012 at 5:46 pm

    I am so appreciative of your emails and newsletters!
    I filled out the application for USRES on 10 APR 2012.
    Do you have any idea what the time frame is for them to review
    the application and make a decission?

    • April 14, 2012 at 1:08 pm

      Hi Tee, I do not know their timeframe. I only got in because I sell BAC direct. Follow them on conventions/seminars and find out who their vendor manager is.

  33. Gene Johnson
    April 12, 2012 at 2:24 pm

    Thanks Poncie. I am a BOA direct agent too but I never pass up the opportunity to work with any outsourcer.

    Posted by Gene Johnson
    REO Agent at Watson Realty Corp.
    Saint Augustine, Florida

  34. April 12, 2012 at 2:08 pm

    Hi Poncie
    Thank you for your time and info that you give us but I have been signed up with USRES and no assets from Bank of America yet !! please advice who should I contact.

    Regards
    David Azimi

    • April 12, 2012 at 2:16 pm

      Hello David, if you are BAC approved, then you should contact USR. Not sure if the other way works. We are BAC approved, therefore are receiving BAC REOs thru USR.

      I noticed you are NOT subscribed to our REO network. You are welcomed to join our REO network team. We are constantly sharing REO info back and forth.

  35. April 11, 2012 at 5:47 pm

    Hi Poncie,
    They have been using outsourcers for some time. Are you saying that they will no longer have direct assignments?

    Posted by Jan Hurren
    Expert Guidance in Today’s Turbulent Market!
    Greater Los Angeles

    • April 11, 2012 at 5:49 pm

      Nope, not saying that. All I’m saying is that we’ve been receiving BAC REO thru USRES. Giving our REO network fellow realtors a head’s up.

      • April 12, 2012 at 1:22 pm

        Ahhh thanks… (Paranoia at work. : )

        Posted by Jan Hurren

  36. April 11, 2012 at 3:37 pm

    True … I have received two BoA REOs from USRES in the past couple of months. USRES is very good to work with. Very professional operation.

    Posted by Ed and Terri Smith
    President, RE/MAX Coastal, Destin FL

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