TIP#1: Search for any REO bank. Type the name of a bank or REO outsourcer in the “Search REO Banks” box to the right and click search. Courtesy of Google Custom Search. —>

atlas-ias-winner-loserREO NEWS! Integrated Asset Services (IAS) has lost the Bank of America (BofA) account. If you had BofA listings with IAS then you noticed that your listings were pulled and sent to other outsourcers. According to the REO Vendor Relationship Manager at BofA, IAS is not an outsourcer. There is no reason given for the change. Bank of America is still releasing assets to agents, but very few. Most of the assets are being assigned through outsourcers.

Although foreclosures declined in 2012, according to DSNews, foreclosure activity/starts/filings increased in the majority of judicial states. “We expect to see continued increases in judicial foreclosure states near the beginning of the year as lenders finish catching up with the backlogs in those states, and another set of increases in some non-judicial states near the end of the year as lenders adjust to the new laws and process some deferred foreclosures in those states,” RealtyTrac VP Daren Blomquist said. [READ MORE]

ATLAS REO is a Bank of America outsourcer. If you are a preferred BofA agent, sign up to Atlas and let them know you are a preferred BofA agent. If not, keep in mind, that Atlas REO takes pride in selecting ONLY the best, most qualified REO brokers/agents in the country to partner with. If this is you, click on the link below and start applying.* REO Tip #2: Create your free REO profile at Zillow. Zillow gets over 11 million views a month. [CLICK HERE]


*This site is FREE for realtors/brokers and always will be. Haters claim that I charge. NO, we are a subscriber network of REO agents. We share information, REO tips from REO agents. Joining is free. 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.

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SOURCES: IAS [www.iaservices.com/], Bank of America [www.foreclosures.bankofamerica.com/real_estate_owned], Atlas [www.atlasreo.com/], DSNews [www.dsnews.com/articles/foreclosures-declined-in-2012-increases-expected-2013-2013-01-17]

22 comments for “DROP IAS, JOIN ATLAS REO

  1. Violetta Polyakov
    March 5, 2013 at 3:19 pm

    How do you sign up with Atlas?
    By Violetta Polyakov
    Broker/Owner at Florida Home Consulting, Inc
    West Palm Beach, Florida Area

  2. Denise McNally
    March 5, 2013 at 10:33 am

    Hey Lisa!! Thanks for the insight! I just received a check from IAS today!! It worked!! Now only owe for BPO’s less than 90 days old!!
    By Denise McNally
    Realtor at RE/MAX Professional Group
    Fort Wayne, Indiana Area

  3. Enrique Lopez
    February 28, 2013 at 11:24 am

    I worked with them for years, and unfortunately I only have bad things to say about them. As I was growing up my grandfather use to tell me, “if you don’t have something nice to say about someone don’t say it” so here is what I will say about them… They have a nice office building in Denver… Honestly that’s all I can say that is nice about them… Besides, For those who work or have worked with them, you all know the story…
    By Enrique Lopez
    Associate Broker, REO Asset Management and Disposition
    Miami/Fort Lauderdale Area

  4. Cindy Billman
    February 26, 2013 at 1:21 pm

    I have signed up several times with Atlas several times and have never received an acceptance – keep getting the same -….when there is an opening in your area……l – they are tough to get in!
    By Cindy Billman, CDPE, SFR
    Realtor at RE/MAX On Main
    Dallas/Fort Worth Area

  5. Denise McNally
    February 26, 2013 at 12:52 pm

    I’ve been doing BPO’s for them for over a year. Haven’t been paid for 7 + months for any of them. Repeatedly sent emails to them requesting payment and getting same answer regarding their backlog. Received same message again after sent them email regarding filing a complaint. Let’s see how long it takes!
    By Denise McNally
    Realtor at RE/MAX Professional Group
    Fort Wayne, Indiana Area

  6. Martin Manzo
    February 26, 2013 at 12:50 pm

    No wonder. IAS has half of the agents in the country upset because they don’t pay BPOs and REO Expenses. I am sure some of the Broker’s complaints got to BofA and they decided to drop them like a hot potato.
    By Martin Manzo
    Realtor at Prudential Real Estate
    McAllen, Texas Area

  7. Lisa Savage
    February 26, 2013 at 12:46 pm

    Need to make a correct – meant to say that the properties had been closed over 6 months. IAS usually doesn’t pay within 90 days, so after that, you have to start hounding them.

    I give them 2 chances to respond through their web site and get a check to me. The 3rd time I have to write, I make the threat and that always seems to work.

    Have a great day!
    By Realtor Lisa Savage
    Owner, Realty Savage
    Dallas/Fort Worth Area

  8. Lisa Savage
    February 25, 2013 at 11:21 pm

    You have to threaten to go to their state’s and your state’s attorneys-general before you get a check. Had 2 BofA properties that had been closed over a month – I told them if I didn’t get a check by x-date, I’d file a complaint – had a check within a week.

    I really like working with IAS EXCEPT for the getting paid part. Otherwise, they have excellent asset managers.

    Threats are the only thing that seem to work with them.

    Have a great week!
    By Realtor Lisa Savage
    Owner, Realty Savage
    Dallas/Fort Worth Area

    • Denise McNally
      February 25, 2013 at 11:23 pm

      Thanks Lisa! I will try that. I too like working with the asset managers, but getting paid is another story!
      By Denise McNally
      Realtor at RE/MAX Professional Group
      Fort Wayne, Indiana Area

      • Martin Manzo
        February 26, 2013 at 9:15 am

        I worked with IAS several years and I always knew they were slow pay, but for the last 2 years they just got horrible. I filed a complain with BBB in Denver for unpaid BPOs and REO expenses, and yesterday we received 12 checks from them.

  9. Denise McNally
    February 24, 2013 at 5:17 pm

    Maybe this explains why I am still waiting after 7 months to get paid for BPO’s that I have done. Keep getting the same answer: We are currently working as quickly as possible to clear up a back log of payments. Your payment request has been noted and will be addressed. Anyone else having trouble getting paid??

    By Denise McNally
    Realtor at RE/MAX Professional Group
    Fort Wayne, Indiana Area

    • February 24, 2013 at 5:18 pm

      I just sold my last listing with IAS. They owe me over $3000 in REO expenses. I get the same story, that they are working on it and will move us to the top of the list. It’s been months. Oh well. [poncie.com]

      • Jim
        February 24, 2013 at 8:11 pm

        Hi Poncie,
        I contacted BOA and the are not accepting new REO brokers they said they are actually reducing their agent network.
        Outsources of BOA require agents to be BOA preferred. How can I accomplish this preferred status so I can get listing from these BOA outsources?

  10. Mary Greenspan
    February 24, 2013 at 5:08 pm

    Atlas REO is the greatest to work with! Very professional and never making you feel like an idiot like some of them do……and you know who I am referring to.
    By Mary Greenspan
    Broker Owner at Greenspan Brokerage
    Las Vegas, Nevada Area

  11. Steve Moller
    February 24, 2013 at 5:04 pm

    Dear Poncie, As usual well done 🙂 Thanks,

    By Steve Moller
    Designated Realtor at Moller Real Estate
    Naples, Florida Area

  12. Aleem Bilwani
    February 24, 2013 at 5:03 pm

    I have filled my application at least twice it seems like I may be on a waiting list do you know a contact person. I have heard Auction.com is listing majority of B of A properties.
    By Aleem Bilwani
    Owner, REALTY PLUS
    Orange County, California Area

    • Sagine Thebaud Morgan
      February 24, 2013 at 5:13 pm

      I also filled out an application but no feedback yet. Where and how can we get a contact person in their office?

      Sagine Thebaud Morgan
      Real Estate Sales at Keyes
      West Palm Beach, Florida Area

  13. David Davis
    February 24, 2013 at 4:56 pm

    In a market that is made up of less than 20% of REO and current inventory down to 3.2 months, REO listings declining by 24% of the market to make up less than 14% of the current market, combined with all the expense and headache of of REO, one question comes to mind…. Why?
    By David Davis
    ASSOCIATE BROKER at Keller Williams Signature Realty
    Houston, Texas Area

  14. Pauline Fernandez:
    February 23, 2013 at 12:43 pm

    Just joined Atlas—Thanks Ponce—-YOU ARE GREAT

  15. Kenneth Bryan
    February 23, 2013 at 9:04 am

    Looking for REO’S sold 9 already

    • February 24, 2013 at 10:22 am

      Great work Kenneth. What company did you sell 9 with? [poncie.com]

  16. DiOndra
    February 23, 2013 at 8:11 am

    Poncie, you are always a wealth of information. Truly appreciate you.

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