Ocwen – New REO Application

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Dear Network Buddies,

BREAKING NEWS!! OCWEN Financial Corporation will purchase Homeward Residential Holdings, Inc for $750 million. Ocwen offers both residential and commercial REO services [READ MORE]. This means more REOs. This is an opportunity for new & veteran REO agents! To become an Ocwen/Altisource Vendor, simply click on the link below. Follow the application process. Take note the Ocwen/Altisource automates the selection process.

Please note that [poncie.com] is not affiliated with Ocwen/Altisource. Please contact Ocwen/Altisource with application questions or concerns.

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.

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

Do you know of any REO companies we can sign up for in Stockton, CA?? Share the wealth!

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The PMZ Way: Strategies of Highly Successful Real Estate Agents



LT

 

SOURCES: Ocwen Enters Agreement to Buy Homeward residential for $750M. DSNews.com. 3 Oct. 2012 By: Esther Cho <http://www.dsnews.com/articles/ocwen-enters-agreement-to-buy-homeward-for-750m-2012-10-03> / About Us. Ocwen. 5 Oct. 2012 <http://www.ocwen.com/about> / Ocwen REO. Ocwen. 5 Oct. 2012 <http://www.ocwen.com/reo> / Join our Vendor Network. Altisource/Ocwen. 5 Oct. 2012 <http://www.altisource.com/VendorNetwork/JoinourVendorNetwork.aspx> / [Ocwen Logo]. (n.d.). [Digital Image]. Retrieved from <http://www.ocwen.com/> / [Altisource Logo]. (n.d.). [Digital Image]. Retrieved from <http://www.altisource.com/Home.aspx>

42 comments for “Ocwen – New REO Application

  1. Poppy
    March 13, 2014 at 6:38 am

    Interesting comments…oh my, it’s only $38.00, but you’d sign up to sell stolen property if it was $250.00, right? Just a matter of price what you’d sell your soul for!

  2. Shanan Hartel
    August 3, 2013 at 8:23 am

    looking to get on the reo vendors lists as a listing real estate agent

  3. Kirk
    February 21, 2013 at 6:12 pm

    I have been selling REO properties for American Home Mortgage, Option One Mortgage and Power REO which it is called now. Yesterday I received a listing letter from Power REO to get one of their properties on the market. I put it on the MLS. Today I was notified that Ocwen will take over all of Power REO assets on February 28. Trying to get ahold of anyone at Power-REO is like pulling teeth. So will I just loose the listing? Will I have to send my resume to Ocwen to become a listing agent for them? Also I was informed that the property is now going to auction at Auction.com. Any experience with them? Any feedback would be appreciated. Thanks

    • February 21, 2013 at 6:54 pm

      Hello Kirk, usually when asset get transferred you get to keep them with the new company. If it goes to auction, you will still be paid (very little). Auction.com will take care of everything. You will have to do a few task on their site. If they accept an offer, they will handle escrow. Pretty simple process. It’s a bummer though. CoreLogic lost BofA and all my assets were transferred to different outsourcers. Still learning their system. Hang in there.

      • Kirk
        February 22, 2013 at 11:30 am

        Thanks for the response.

  4. Ted Williams
    October 31, 2012 at 12:16 pm

    Wow!
    Please remind me not to get on any of the agents here bad side.
    Awesome folks the information here is more than helpful we should keep these corporations honest.

    Ted Williams
    Source Realty Realtor REO/ Short Sale Specialist
    Greater Minneapolis-St. Paul Area

  5. LANCE DALTON
    October 27, 2012 at 2:44 pm

    oh fyi, my broker told me altisource has their own in house broker that doesnt visit the property which is a violation of california law. I am sure David Judd will soon be biting a pillow in prison or faced to pay so many fines for malpractice. What goes up eventually comes down.

  6. LANCE DALTON
    October 27, 2012 at 2:43 pm

    LENDERS ARE NOW NOT LENDING ON ANY PROPERTY THAT BELONGS TO ALTISOURCE/OCWEN. My loan was denied by Bank of the West and they have a policy not to lend on properties that are listed or under Altisource. Aparently there have been law suites and or problems with their chain of title and thus the bank has now deemed them risky So before you go into escrow check with your lender to see if they will lend with an altisource property…it all has to do with chain of title and how altisoruce efs them up. I bought one of their houses prior and i agree, their service and escrow and title is the worst. I filed a complaint to the dept of corporations and the calif DRE. EVentually the attorney general will have to look at it from the numerous complaints. If this company only used brokers like the rest of the banks they would get way more money per home, I wonder if altisource investors know how much they lose with the way altisource does business..almost shameful, but i ripped them off last time and got a way cheap house so under market value their lame asset manger that has no clue how business is done in the USA screwed the investor out of about 76k cash. I win they lost due to their inept business model however, bewared, READ YOUR TITLE REPORT.

  7. Cynthia Robbins
    October 24, 2012 at 11:06 pm

    I could tell you stories about Altisource…..and I have been listing and selling for them for the past 7 years. They are now trying to recruit me to manage rentals for them. I am VERY LEARY.

    Posted by Cynthia Robbins
    Associate Broker, Home Connection Realty
    Greater Chicago

    • Patrick McClay
      October 30, 2012 at 5:09 pm

      I have done BPO work for them , however, have not listed anything with them. They are trying to recruit me for rental management as well! What do you think the good and bads could be with this new program?

      Posted by Patrick McClay
      Director- REO Sales at Prudential Collins-Maury, Inc.
      Location
      Greater Memphis Area

      • Dave Cran
        October 27, 2015 at 8:45 pm

        Patrick,

        I just asked Cynthia the same question as you both seem to have more of an insider’s idea of things than I certainly do. I was wondering if you know something about Ocwen and rentals. Have you ever heard of them renting a house they possess that they are offering for sale? There is one I want to buy, but I’m in school for another year and a half (career change) and will be making plenty to buy it when I graduate (already have discussed this with a reputable mortgage broker). So, I’m trying to figure out a way to keep them from selling it to someone else and rent it until that time. Do you have any suggestions? Thanks!

    • Dave Cran
      October 27, 2015 at 8:42 pm

      Cynthia,

      I realize this is an old post, but I was wondering if you know something about Ocwen and rentals. Have you ever heard of them renting a house they possess? There is one I want to buy, but I’m in school for another year and a half (career change) and will be making plenty to buy it when I graduate. So, I’m trying to figure out a way to keep them from selling it to someone else and rent it until that time. Do you have any suggestions? Thanks!

      Dave

  8. Angela Adams
    October 17, 2012 at 8:49 pm

    I suppose all their India outsourcing helped them save up enough to buy out HRH. Go homing was terrible and every month they’d put their actively listed assets on the auction block in my area. One of My hedge fund buyers was actually doing petty good flipping them- but then we may of complained a “little” too much about the excessive 90-120 day plus deed recordings and all of a sudden we stopped winning tapes. I’m talking winning at least 3-5 assets min every month to absolutely nothing. Has anyone else w/ investor/equity/ hedge fund buyers had this problem?? We also use to list for them way back in the day in ATL (pre-India). They’re current model just isn’t affective- start hiring LLB’s who actually know the market and maybe they’d start seeing much different results!!

    Posted by Angela Adams
    Real Estate Expert Servicing All of Greater Nashville, TN

  9. Aaron Brunette
    October 17, 2012 at 8:10 pm

    I wonder who the marketing genius was that felt it was better to put a sign in the yard and advertise only on their own website instead of using local agents and the mls? I get that they are saving the listing side commission but the DOM and holding costs will hurt them just as much. The new hubzu website for them is just as slow and confusing as the gohoming one was. Time period for offers is long and counters in 1000.00 increments are ridiculous. I had one last week that we countered 7 times and they only came down 8k. Oh yea but i can keep doing all their BPOS for 38.00.

    Posted by Aaron Brunette
    Broker at Coldwell Banker Brenizer
    Eau Claire, Wisconsin

    • Rob Crow
      October 17, 2012 at 8:17 pm

      $38.00 is good for them and a bad business move for me. I told them it’s better for me to work at Mickey D’s. I wish more people would take a stand. If we only had a union. HA!!!

      Posted by Rob Crow
      Associate Broker at RE/MAX Realty Group
      Washington D.C

  10. Linda McKissick Bend
    October 17, 2012 at 3:50 pm

    I am so bummed. I have been a listing agent for Option One/American Home Mortgage/Power-REO/Homeward Residential (many name chages over the years) for a long time now. They just shifted their platform from DARES to Equator, but narry a word about this change. : (

    Posted by Linda McKissick Bend, OR Real Estate Services
    Principal Broker, REO Specialist at Morgan & Associates Realty Bend
    Eugene, Oregon

    • Matt Swift
      October 25, 2012 at 5:39 pm

      No worries all of your data was transferred from DARES to the Equator/ just follow up

      • Tammy Cundiff, Genesis Realty LLC, Louisville, Kentucky
        February 7, 2013 at 12:41 pm

        I also worked for American Home Mtg as well for many many years now and since the move to Equator I havent heard a peep from them and they were my bread and butter so to speak.. I know they have all my info but sure do miss out on the assets. I sold a ton for them.. I hope it changes around sometime soon.

  11. Anonymous
    October 12, 2012 at 2:52 pm

    Ocwen is terrible. They use their own broker and the service is the worst in my market. They took my BPO pics, price and comments and used that for the MLS info…brutal.

  12. Doug Carroll
    October 11, 2012 at 4:49 pm

    Same thing with Wells Fargo and PAS. Use out of area Realtors. Bizarre that these banks don’t care about local expertise.

    Posted by Doug Carroll
    Broker Associate at Prudential Malibu Realty
    Greater Los Angeles

  13. David Raisey
    October 11, 2012 at 9:47 am

    Had the same experience here. I used to list OCWEN assets several years back and then they began listing all their north texas properties with a broker out of Houston. Makes no sense, that there would be an OCWEN listing three blocks from me that is listed with an broker who has never seen the property. Furthermore, they put showing instructions and the combo right on the MLS. No control of access for showings. Surprised the properties don’t get stripped.

    Posted by David Raisey
    Realtor at Raisey Real Estate
    Dallas/Fort Worth

  14. Augusto david
    October 10, 2012 at 9:11 pm

    Good inf. Please keep it up . Thank you

    Posted by Augusto David
    Broker Associate 1/2 Owner at TOP CHOICE REALTY NETWORK LLC
    Greater New York City

  15. Arthur Welch
    October 9, 2012 at 4:44 pm

    Don’t waste your time with OCWEN this asset company uses 1 agent in a metro area, pays a small listing fee, poor response, assets are sub par condition. Poncie this company is bad for all the industry, they are bottom fishers. I ask my buyer’s and buyer agents not to consider their homes as they are hard to deal with, very unprofessional.

    Posted by Arthur Welch
    Owner Realty World Superstars
    Phoenix, Arizona

    • Rob Crow
      October 10, 2012 at 8:48 pm

      I couldn’t agree more. Not only that but their bpo company pays $38.00 net to the agent. These are sweatshop wages, If this company were Bain Cap. you’d be seeing all sorts of negative television ads.

      Posted by Rob Crow
      Associate Broker at RE/MAX Realty Group
      Washington D.C

      • Amanda Bell
        October 10, 2012 at 8:55 pm

        yes they told me they use their own staff in house brokers

        Posted by Amanda Bell
        Owner, At Home Realty
        Greater Nashville

  16. Yadira Arteaga
    October 9, 2012 at 9:03 am

    Great news! We need more homes to sell 🙂

    Posted by Yadira Arteaga
    Realtor at Excel Realtors

  17. Jeff Furniss
    October 8, 2012 at 11:36 pm

    Hey. Is this REO sign up or BPO sign up?? I get BPO requests from them but never any REO work. Are there different sign up sites for Ocwen REO??

    Thanks for your help
    Jeff Furniss

    • October 8, 2012 at 11:40 pm

      Sign up is to join their network for both BPO & REO, both residential and commercial.

      • Maureen wood
        October 18, 2012 at 6:07 pm

        How much commercial in Maryland and Deleware due to come on the market

  18. Joyce E. Tate
    October 8, 2012 at 11:27 pm

    Thank you Poncie for sharing this information. This is what I have been waiting for!! Have a great week!

    Joyce E. Tate, Realtors,LLC Best Texas Real Estate Broker!
    Houston, Texas

  19. Ivona George
    October 8, 2012 at 10:32 pm

    Poncie,

    I am very interested in becoming an agent with OCWEN bank.

    I am very curious, why are you providing this info and resources for other agents? You are an agent yourself. Don’t you worry about the competition?

    I want to congratulate you on your working ethics.

    Have a great day,

    Ivona George
    CA DRE Lic.: 01880391

    • October 8, 2012 at 10:35 pm

      Hello Ivona, You’ll have to hear me speak someday. I usually share the reason why I provide REO info. Basically, “freely I received, freely I give”. No, I am not afraid of competition. It only ake me better. Our team is second to none 🙂

      Watch some of my reo tip video if you get a chance: http://poncie.com/videos/videos-poncie-com/

  20. Tanya Schindler
    October 8, 2012 at 5:43 pm

    great info. thank you!

    Posted by Tanya Schindler
    Broker/owner at South Central Real Estate
    Austin, Texas

  21. Ken Mapp
    October 8, 2012 at 10:51 am

    I worked as the senior underwriter for NCS Commercial back in the 90′s when we worked with OCWEN selling our paper. Have been developing commercial up until this recession. I look forward to working with the REO that Ocwen has. We have a following of investors having sold them commercial properties we developed, built and sold. Thanks Ken Mapp

  22. Kay
    October 7, 2012 at 7:58 am

    I have been a vendor with Ocwen/Altisource for a few years. I registered because I thought I would get listings. All I recieved was BPOs and CMAs. They started using their in house Altisource for listings. They also take a fee out of the BPO and CMA you submit. With gas at such high prices, it is not worth it for the fee they pay.

  23. ROSE TURUCK
    October 6, 2012 at 12:46 pm

    I had registered with Ocwen went through their whole registration process because I had one listing that was withdrawn, and all my paperwork was approved. I then get a notice that their in house broker – Real Home Solutions will be listing the property.

    I then get a notice that my car insurance has expired and they want that updated, is there was a point if they use their own in house broker

    ROSE TURUCK, REALTOR
    NORTHWOOD REALTY SERVICES
    http://www.northwood.com/roseturuck
    mobile website – http://roseturuck.gonw.mobi

  24. Steve Jolly
    October 6, 2012 at 9:25 am

    This means less REOs for agents. I have been thru this with three other clients in the last year. Ocwen buys a company cancels your listings and turns them over to their own in-house brokerage. Homeward was one of my favorite clients.

    • Carroll
      October 10, 2012 at 10:39 am

      So I was with Homeward/Power-REO/AHMS for 4 years. I recently go an email that since REO’s had declined, my services were no longer needed. Do you think this is due to the buyout?

  25. Meg Yacawych
    October 5, 2012 at 8:10 pm

    I read that today too Poncie.

    They do and they don’t have auto -selection. They do it both ways. Been with them for a very long time. I was hopeful to when I heard that this morning. I thoroughly enjoyed working for them and then they went Altisource and also Auction. I just finished an auto-selected and a pre-select too.

    It is hard to snag a BPO or CMA since so many use the we-crawler system. I don’t. I figure if they want the best, they will call me and sometimes they do.

    They like fast, clean BPO’s with a lot of additonal information. They are A+ fussy, but I liked them.

    They are/were a good fit for me. Did a bunch of REO…now they are all DDDJJJ in my area and someone else in Central Ca where you are.

    Thanks for all you do Poncie — You keep it real

    Regards,
    Meg Yacawych, Realtor DRE #01245050
    Century 21 Beachside
    Chino Hills, Ca 91709
    http://www.explorechinohillsrealestate.com
    “Give the other person a fine reputation to live up to…” Dale Carnegie

  26. nkazel-ramos@c21mm.com
    October 5, 2012 at 8:06 pm

    Sorry… my last name doesn’t mean I’m Latino.​

  27. Matthew Lahti
    October 5, 2012 at 6:10 pm

    Ocwen/Altisource no longer uses agents. In most of the states they have opened brokerages and that one brokerage lists for the entire state. They only use agents for BPOs.

    Thanks,
    Matthew Lahti, GRI, ePRO, CNHS, NRBA, NAHREP
    Designated Broker
    Pacific Northwest Realty Group
    Longview, WA 98632
    Visit Our Website: http://www.PNWR.com

    • RONMAX
      October 5, 2012 at 6:26 pm

      This is not good. They are not using agents to list homes any more in most states

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