Q & A

“Ask and you shall receive” – Jesus

Q & A BELOW

90 comments for “Q & A

  1. Thaison
    February 6, 2017 at 11:20 pm

    Turbo-BPO.com,

    I have been doing a lot of research the past weeks for training material, seems like every valuation company has different forms. One site that keeps on coming up is turbo-bpo.com, apparently, they can auto-fill some forms based on data you upload. have you used this service before? Would you recommend using this service to assist with the BPOs?

    thanks a lot for your opinion, much appreciated.
    Thaison

  2. Thaison
    February 3, 2017 at 9:30 pm

    Hi Poncie, thanks for all the information here. I signed up for most of the BPOs company you listed. And now, most of them are asking a fee schedule, do you know what this looks like and what’s a reasonable fee for these services?
    I am in Seattle Washington.

    thanks so much for all the resources on this site.

    • February 6, 2017 at 4:40 pm

      Hello Thaison, typical BPO fees: $50 for exterior and $75-$80 for interior in suburban. ~poncie.com

      • Thaison
        February 6, 2017 at 9:18 pm

        What about multi-family interior and exterior?

  3. Denny Gonzalez
    July 2, 2015 at 8:45 am

    Is NABPOP and their C-REPS designation worth the $220 annual fee?

    • July 3, 2015 at 12:32 pm

      Hello Denny,

      My team and I have done countless BPOs for different BPO companies and we are not members of NABPOP or their C-REPS designations. Most BPO companies do not require you to be certified. Here is a list of respectable BPO companies you can apply to that do not require you to be certified http://poncie.com/bpos/

  4. Rick Cammarano
    March 19, 2015 at 12:02 pm

    “Just received a call from V.R.M Asset Management. They gave me 3 listing addresses. Are the a legit company to deal with?”

    • March 19, 2015 at 12:37 pm

      Absolutely! They handle all the VA properties along with some other companies. They are the biggest part of my REO business. Go for it! They generally pick one agent to be their primary and stick with them unless you just fail to perform. One thing to keep in mind, when doing tasks for them, be sure to also email your AM because they do not see the comments on the tasks. For example, if your preservation vendor is not performing the job up to par and you report it on your Initial Services task, the AM doesn’t see it do you have to send them an email to give them a heads up about what is going on.

      Good luck to you! They are a great REO company to get!

    • March 19, 2015 at 5:01 pm

      Oh yes….They handle VA and Freddie in my area. Very good company

  5. March 12, 2015 at 12:25 pm

    Is any one else experiencing BPO’s slowing down a great deal? I live in Utah and it is extremely slow for the last 8 months.

  6. December 18, 2014 at 11:14 am

    Hi Poncie,

    I have been contacted by REO Properties, Emily Lewis states she is an AM. They are looking for listing agents to do BPO and Occupancy checks with the “possibility” of getting them as listings. They charge a one time $400 software fee and “guarantee” 2 listings in a year or they refund the $400. She gave me 6 different addresses that she would like me to accept the BPO on and one, the property is currently listed and is not indicated to be in pre-foreclosure or short sale and the other happened to be an REO listing that I listed and had the cash buyer so I know there is not possibility of it being in any type of default status. I told her I wanted to look into this before making a financial commitment. It sounds an awful lot like BankerReo and AbsoluteREO. Do you have any information on this new company?

    Anything you can tell me will be MUCH appreciated!

    Amber Corrow

    • January 6, 2015 at 11:02 am

      Hello Amber,

      Beware! Here are some reviews and agent comments regarding this company: http://poncie.com/2014/04/30/reo-pro-corp-reviews-buyers-beware/

    • Paula Erickson
      January 6, 2015 at 9:17 pm

      DON’T DO IT! IT IS A SCAM! YOU WILL NEVER GET A BPO OR LISTING AND YOU WILL NEVER SEE YOUR $400 AGAIN! NOOOOOO

      • January 7, 2015 at 2:51 pm

        LOL 🙂 Thank you Paula, I did not. I figured it was once I was able to look up the addresses she gave me an, funny thing, I have never heard back from her since. I have been scammed once a few years back, it won’t happen again!

  7. June 16, 2014 at 10:15 am

    Good morning Poncie,

    I received the following email and registered for this webinar. REORainmaker, seems like I should recall who and what this “person” is but I can’t seem to remember why. Do you know anything about this? I don’t want to waste my time when there is so much else going on.

    Thanks in advance for all you do!

    Amber Corrow-Scott

    Dear Amber,
    Thank you for registering for “B of A- CHASE- HUD LISTING AGENT Webinar”.
    Come see verified and documented proof of Agents from your State or Local County who have recently(In the Last 2 Weeks) used the same techniques found in this webinar to start Listing Bank Homes from these vendors . You will be given access to the same information and techniques in this FREE Webinar without any obligation.

    RECENT forecast show a SHARP increase in Bank/REO Listing volume Nationwide in select markets through 2015.You will be shown detailed proof of this- If you received an invitation to attend this event you are located in or around a high demand area.You will be shown REAL LIFE case studies of Local Real Estate Agents who have RECENTLY been assigned their first REO listing and/or have significantly INCREASED their Bank listing volume using the same information, tools, and techniques found in this webinar.
    By attending this 1 hour webinar you are GUARANTEED to come away with the following information FREE with ABSOLUTELY NO OBLIGATION :

    ***Learn who is the existing REO GIANT that has JUST STARTED
    a hiring wave in your local market and how to get directly in
    touch with this giant NOW! ( Link to be displayed during this
    webinar)

    *** The exact steps that were taken by a LOCAL agent to get her
    FIRST Bank Listing (In the Last 3 weeks) …and what she did to get 4 more listings from the same vendor.

    ***How to make a MINIMUM of $500 a week in EXTRA Real Estate
    income and how you can apply this method IMMEDIATELY after
    this webinar is over

    AND MUCH MUCH MORE!

    We will be in your area for 2 days only REGISTER NOW TO GUARANTEE SEATING.
    Please send your questions, comments and feedback to: reorainmaker@gmail.com

  8. May 6, 2014 at 8:59 am

    Hey there Poncie, I just read your post on REO Pro Corp. Is there anything that REALTORS who have already paid can do to get their money back or anything that you would suggest should be done at all?

  9. April 18, 2014 at 10:46 am

    Hi Poncie,

    What do you know about Asset Management Consulting? A Larry Pool has contacted an agent in Jacksonville, FL and we are wondering if they are real or a scam. Please and thank you!

    Amber Corrow, Broker
    ERA American Horizon Realty

    • A.H
      August 24, 2016 at 9:20 am

      I paid in to Larry Pool years ago, and he actually just took my 1500.00 and never gave me anything, watch out for this guy!!! not legit

  10. March 17, 2014 at 12:15 pm

    Hi Poncie, I have recently received an email from AMCF,LLC, stating if I pay a fee, they will do amazing things for my REO business. Have you heard of them and if so, your thoughts? I have included the email here:

    Thanks for all the help you give!

    Amber Corrow, Broker
    ERA American Horizon Realty

    Dear Sir or Madam,

    My name is Larry Pool-Loy. I am writing to introduce myself and the services offered by our Company, Asset Management Consulting Firm, LLC (AMCF, LLC).

    Our founder, Larry Pool-Loy, is a former Asset Manager with extensive experience in the industry. He also comes from a family of experienced working professionals. His mother is high up in the ranks of Citi Residential Lending; a well-known leader in the industry. Larry has personally worked on the Fannie Mae Direct account for New Century Mortgage, Carrington Asset Mortgage Services, and Equity Pointe Asset Services. The current market is starting to change and more assets will be released into the REO departments. If you bring our Company on we will show you results and help your REO side grow. Also, if you are willing to do BPOs, we can help get you approved even sooner.

    Below please see the highlights of what we do. We would love to develop a professional relationship with you and would be grateful for an opportunity to earn your confidence and trust.

    Below are some highlights AMCF, LLC now offers within three different programs.

    The services the REO agent will receive are below.

    1. A professionally completed marketing package in color that has been proven to help put agents in the best possible position with banks or outsource companies for new assets.

    2. Introductions to banks and asset management companies by Asset Management Consulting Firm, LLC.

    3. Review of all policies, procedures and systems currently set in place.

    4. We help new agents establish new clients and teach them what a seasoned Asset Manager is looking for.

    5. Review of your BPOs and MSRs before the agent submits them to the client.

    For a smaller fee, we can offer you a full Marketing Package that is created by our professional team. This package has been proven to work.

    Asset Management Consulting Firm, LLC Company Highlights:

    About Our Owner
    Larry Dean Pool first began his mortgage career with IndyMac Bank 11 years ago. He has worked for New Century Mortgage as an Asset Manager. He then moved on to work for Carrington Mortgage Services. Larry also built his portfolio by working with Equity Pointe Asset Services as an Asset Manager for Fannie Mae Direct, as well as working on the AMP team. Larry has extensive professional experience as a successful Asset Manager. He knows that starting a successful business endeavor begins with establishing great rapport with REO Real Estate Agents such as you.

    Our Mission
    We provide the most professional, informative, loyal and dedicated service in the industry. The best interests of our clients will always come first and we will place the client’s concerns ahead of our own in each and every transaction. We are dedicated to the development of long-term relationships! Our team-approach philosophy ensures your needs are important to each and every member of our organization.

    Our Pledge
    Integrity, performance, and the best value is what we offer to each and every client and individual we serve. Our track record demonstrates the effectiveness of our services, and is a reflection of our commitment to continuously improve.

    Should you have any interest, please email me and I will personally be happy to answer any and all questions or concerns.

    Very sincerely,

    Larry Pool-Loy
    Asset Management Consulting Firm, LLC
    3099 W Chapman Ave, Suite 440
    Orange, CA 92868
    Office: 718-517-2289
    E-Mail: Larry.Pool@amcfllc.com

    Larry Dean Pool-Loy
    Asset Management Consulting Firm, LLC
    Executive Director/CEO
    E-Mail: Larry.Pool@amcfllc.com
    Web: http://www.amcfllc.com
    Office: 718-517-2289
    Cell: 714-470-1096
    E-Fax: 714-464-2994
    3099 W. Chapman Ave. Suite: 440
    Orange, CA 92868

    Confidentiality Notice: This message, including any attachment(s), may contain confidential information protected by law. The information contained herein is for the sole use of the intended recipient(s). If you have received this message in error, please contact the sender at the e-mail address listed above and destroy all copies of the original message, including any attachments. Thank you.

    Please join us in support of our environment and recycle all printed emails.

    • March 17, 2014 at 12:20 pm

      Hi Amber,

      Hold off paying for a while. We will look into them and let our network know. From our experience, REO banks do not charge. BofA, Citi Direct, Fannie, Freddie, etc… do not charge for business. Be careful.

      [poncie.com]

      • September 26, 2014 at 2:32 pm

        Hi Poncie, Any updates on Asset Management Consulting Firm, LLC? We received an invitation from them today. Thanks!

      • Nick
        April 1, 2015 at 10:51 am

        Any updates on AMCF, LLC? Wondering if it’s worth it to join…

  11. Anonymous
    February 25, 2014 at 4:16 pm

    Mr.Poncie,

    Can you please tell me how I can file a complaint on an listing agent that is not following guidelines for Fanniemae? Please help!

  12. February 22, 2014 at 6:59 am

    Hi Poncie,
    Do you know of any AM companies looking for agents in Colorado? It’s slow here but figured it was worth asking! Thank you,
    Andrea Valenzuela

  13. Eugene Lindsey
    February 8, 2014 at 7:02 pm

    Hello Poncie,

    I am trying to access some of your older videos, but can not…like how to get REO references, etc. How can I access the videos?

    I am a newer agent 2 years, in Columbus Ohio, and I am trying to get into REO. I have worked with a previous broker that was Fannie Mae direct, and have worked with some asset managers in the past, but as you know…they have nothing to do with vendor selection. I have also worked with asset managers from FAS, but again, they have nothing to do with vendor selection. Freddie was actively looking for agents in my county a month ago ( found out this information thanks to your website), but have heard nothing. Any suggestions/advice would be greatly appreciate.

  14. February 8, 2014 at 5:40 pm

    Hello Poncie,

    Do you recommend any use of BPO software to increase productivity? If so, which do you suggest?

    Tojuna Eldridge, Realtor
    TAS Realty Group
    Houston, TX 77008

  15. January 29, 2014 at 11:56 pm

    Hey Poncie,

    Have you heard of KeyLink Real Estate Solutions? I received an email from them yesterday basically saying my LRC asset will be pulled if I don’t sign up with them. This is the first I’ve heard of this and I’ve never heard of them. I have a message out to my Asset manager about this but wanted to get your take as well. Here is an exect of what I received:

    “Please be advised that we are changing over to a new agent portal and a new process on how we assign assets. You are receiving this email because you currently have assets with LRC but are not on our new platform. This is the first notice that is being sent out. If you are not registered and approved in our system in the next few days then we will be force to reassign all assets to our new members. Thank you for your understanding.”

    Thanks for any input you may have,
    Mark

  16. Nadine Pierre
    December 30, 2013 at 7:23 pm

    Good morning,

    How can a new realtor get into the REO industry? Please, any guidance is helpful.

    Nadine Pierre
    Realtor, REOCertified
    Charles Rutenberg Realty
    Ft. Lauderdale, FL 33309

    • December 30, 2013 at 7:25 pm

      Hello Nadine,

      Look for opportunity, open doors. Freddie Mac is looking for new agents in these counties:

      • Duval County
      • Flagler County
      • Hernando County
      • Manatee County
      • Pasco County
      • Putnam County
      • Saint John’s County
      • Santa Rosa County (Pensacola & Milton)
      • Sarasota County
      • Volusia County

      Visit my site: http://www.poncie.com and read our blogs. See the Archive on the bottom left. It’s free for Realtors and always will be.

  17. December 27, 2013 at 1:29 pm

    Poncie,

    Do you have any REO Department contact information for Select Portfolio Servicing?

    I was getting ready to put a Chase REO into escrow when they removed the file from PMH Fiancial and sent it to Select Portfolio Servicing. I was working (eviction) on this file for the past two years!

    Thank you,

    Steve Gomez
    RE/MAX Top Producers
    Website: http://www.steveandgina.com
    License # 01332684

  18. October 15, 2013 at 11:04 am

    Hi Poncie

    I am being contacted by REOAssignment.com to be added to their network. There is, of course, a fee. I do not know the amount as I have not filled out the form to be contacted. Is this a legit company? Do you know anything about them?

    Amber Corrow-Scott

  19. Dave
    October 8, 2013 at 6:20 pm

    Hi Can anybody fill me on Carrington, I just received a listing request but they only want to pay me 2% after taking 1.5 for themselves and 2.5 for buyer rep. is this normal. tks

    • October 9, 2013 at 6:15 am

      Most of the asset management companies are now paying less and using realtors as cheep or some times free help !!

    • October 15, 2013 at 11:01 am

      It is normal for them. I have done one listing for them and don’t think I would do another. I could never get a response from anyone, it took almost 3 months for their preservation company to get anything started and I honestly questioned if we would actually make it to closing. The lack of response from their staff made it almost impossible to do my job…with that said, 2.5%, is better than 0% and we all know REO properties will always sell.

  20. Meg Yacawych
    September 13, 2013 at 11:35 am

    Poncie: I am being contacted by Bankers Asset Management/Quandis/Consolidated Analytics. It is all one related entity, but can you comment please.

    Meg Yacawych
    Realtor at Century 21 Beachside, Los Angeles

    • September 13, 2013 at 11:56 am

      Hi Meg,

      I used to handle REOs for Bankers Asset but its been a few years now. They are legit. If they assign you BPOs, take them then try to get in to the REO division.

      Congrats, poncie.com

  21. Lisa
    September 11, 2013 at 11:21 pm

    Do you have any contacts for US Bank servicers? Thank you!

  22. Diane DeSabatino
    August 26, 2013 at 4:07 am

    I have been doing REO work for 4 years. The company that gave me the most work IAS just sent me notification from an attorney that I would not be getting paid on over 30 BPO’s. Does anyone have any insight as to why there site is still up and on this site also. Has anyone else experienced this with IAS?

    Diane

    • Marilyn Exley
      September 26, 2013 at 12:37 pm

      I believe IAS is out of business. Last BPO I did for them last year, I had to go to the BBB. I am assuming you got caught in a Bankruptcy. Sorry. When I did not get paid in a timely manner, I Googled them and found out how many were not getting paid. Happened to me with another company a few years ago on over $2000 of unpaid BPOs.

  23. Hugo W. Meza
    August 14, 2013 at 2:11 pm

    Who are the servicers for WellsFargo?
    I see they are foreclosing a lot in my area.

    BEST REGARDS,
    Hugo W. Meza
    Realtor Associate, E-PRO, ABR,CFS
    Short Sale Expert & REO Agent
    Divorce Real Estate Agent
    Nicholas Real Estate, Clifton, NJ
    To Search for more Cheap Bank Owned Homes or To Learn More About Loan Modification or Short Sale, Visit My Web Sites:
    http://www.hugomezarealtor.com
    http://www.patersonshortsalerealtor.com
    http://www.stopforeclosurepaterson.info

  24. Ronnie Hinton
    August 1, 2013 at 12:17 pm

    Hello,

    I’ve been an REO agent here in Atlanta for 14 yrs now. In Oct 2012,I stepped out of the REO business since that market kinda “tanked” on us because of several reasons including the institutional investors were scooping up everything. Well as you know those funds are all but dried up and I’m ready to get back in the REO market as a listing agent. I’m looking for any account(s) I can get at this point. Do you know of any asset mngmt companies in need of agents?

    Thanks for your advise.
    Ronnie Hinton
    Realtor at Solid Source Realty

  25. Thomas Stewart
    July 12, 2013 at 2:03 pm

    Hi ,
    Do you have a contact name and info for Select Portfolio Servicing Inc REO department.

  26. Faalua Ahsoon
    July 2, 2013 at 4:12 pm

    Has anyone being working with an asset company called…NAMG (National Asset Management Group), if so, what is there timeline as far as payment? Any feedback is appreciated.
    By Faalua Ahsoon
    Broker at Foothills Realty & AK Property Management
    Orange County, California
    http://www.linkedin.com/profile/view?id=19510450&authType=name&authToken=BahZ&goback=%2Eamf_2928133_19510450&trk=anetppl_profil

  27. Linda Rozales
    May 29, 2013 at 11:19 am

    Hi Poncie,

    I have been told that HUD homes will now be listed directly with the real estate agents. Have you heard of that? If so, how can we apply? Thanks Poncie.

    • June 17, 2013 at 12:05 pm

      Hi Linda, Outside of HUD, the REO world is a rapidly shrinking business. I have not heard that HUD will be listing directly to agents. Perhaps what you heard is that HUD homes are now on the regular lockboxes and should be easy to show. They finally did away with that old key system and adopted the regular system that agents use. ~Poncie

      • Ed Tobey
        June 17, 2013 at 9:15 pm

        Here in Indiana HUD has been listing with many agents for more than a year or 2. Buyer’s agents get 3%

    • Marilyn Exley
      September 26, 2013 at 12:48 pm

      HUD has put out emails on this. I would go to HUD.gov and look it up. I was a HUD “listing agent”. It was tough. You have to be ready to pay through the nose for the privilege and jump through some tough hoops. They typically only give you 24 to 48 hours on the first BPO. Then when the listing is complete, you have until the next day (even if the assignment is Friday – then it is 2PM Sat) to get pictures in with your sign in the yard and a brochure in the property. The problem there is your schedule. If you have a client Saturday morning, you are not likely to meet their deadline. If you have a sign company putting up signs, it will not work. You need a vehicle that will withstand the size and abuse of sign toting. All in all, it is very difficult, and you do not make that much money. Their goals are unrealistic unless you are a team and do a lot of them. I spent a lot of time in Starbucks sending my pictures in before the deadlines. Typically you do not make enough to have it as your only source of business and do not have enough time to have other clients. As is typical, the government thinks they always come first. Not something I would do again without a commission and expense sharing team. The only way you make money is in bulk.

    • October 15, 2013 at 11:19 am

      Hi Linda,

      HUD will always contract through an asset company and then that company looks for agents for their network. I am not sure where you are, but in Montana, Best Assets is the AM group that handles HUD. you can contact them through their website at http://www.best-assets.com. If you are not in their contract area, they can let you know which AM company is handling it. I think there are 3-4 different AM companies handling the HUD contracts across the nation. Also, the HUD contract is up for renewal and has already gone through the bid process for a new AM. Usually this happens every 5 years but the MM2 contract-which is the current contract-fulfilled their 5 year contract in 2 years so the contract has to be funded again. This is why it is sent out to be bid. So, with that said, there is a possibility the AM companies will change as soon as beginning of the year. You can google the HUD contract and it will tell you what AM companies are in the running and who you should apply to.

      As for working with HUD, It really is one of the easier companies to work with. It is a 6% commission now as opposed to the 1% it used to be for the listing agent and 5% to the selling agent; now it is split equally. The contracts are now self-filling and easy to understand. Yes HUD has certain requirements; 24-48 hours on the inspections, a whole slew of pictures, weekly inspections and they ask us to put in light bulbs or put on switch plates if they are missed by the preservation company, listen in to the weekly webinar; but all in all, HUD is pretty darn simple. They don’t ask anything more of us than the other REO companies ask. The bids are all done online so you don’t even have to present them; all you do is load them and then put the originals in the mail once they review and accept the contract. It’s money in the bank and easy to do. It just seems like HUD asks more of us because they actually line out what their expectations are. The property is always listed at appraised value for the first 45 days and if someone makes an offer and it is countered by HUD, HUD always counters back with what their absolute bottom line is…how much easier can it get?

      The one down side, they use Aspen Grove as their online platform and the cost, if I recall, is $375.00/year…BUT, this platform is also used by other REO companies like PAS.

      Hope that helps!

      Happy Selling!

      Amber Corrow-Scott

  28. Debbie Warford
    April 26, 2013 at 10:39 am

    Hi Poncie,

    Got a call from this company Footprints saying they work with a lot of banks. They have a $300 fee. Have you heard of them?

    Thanks,

    Debbie Warford
    Associate Broker
    Home Solutions Realty

    • April 26, 2013 at 10:44 am

      Hello Debbie,

      There is a shortage of inventory, not an increase as they mention in their guide. Many asset managers have been laid off. Many REO companies are trying to service short sales.

      I would be careful about paying $300 to join a network. Here is some information on Footprints RE: http://www.agentlinkus.com/general-discussion-forum-4/footprints-re-inc-another-scam-company-fattening-their-wallets-2010/

      [poncie.com]

    • Kathy Fisher
      May 21, 2013 at 7:34 am

      THEY ARE A SCAM!! I fell for it hook line & sinker about 2 months ago. In a time that the market is so tough, I need listings and REO’s are something I am doing with REPUTABLE asset companies, so when this call came in PROMISING me at least 3 within the first couple of weeks, I bought it. FIRST I was to do a BPO/ Occupancy report for them, THEN I would be paid $75.00 for that. Once I got THIS property assigned to me, I would do the interior for $125. SO ACTUALLY, it would only cost me $100. I DID FINALLY get the $75.00 for the drive by but THAT IS IT! AND THE SAD PART IS, the property I did the BPO on IS NOT EVEN ABOUT TO BE IN FORECLOSURE!!!! Now I don’t get returned phone call or answered emails. I DID report them to the Better Business Bureau for ALL the good that will do. BEWARE OF THIS COMPANY!!!

      • Paula Erickson
        September 23, 2013 at 3:25 pm

        Did you get your money back?

    • Marilyn Exley
      September 26, 2013 at 12:53 pm

      Stay away from Footprints. They are a scam. Hope it is not too late for you. They take your money with a 24 hour cancellation and then give you a BPO they take from your county’s foreclosure website, so you think you are now in business. Then you never hear from them again – either to get other business or get paid.

      They were formerly known as Banker REO (not to be confused with Bankers REO), and Absolute REO. I am wondering why the Illinois fraud division of some law enforcement has not caught and prosecuted these scam artists. They have made millions from unsuspecting real estate agents.

  29. Douglas Ledewitz
    April 26, 2013 at 9:57 am

    Do you have any updated contact info for LPS? gary.dawson@lpsvcs.com is bouncing back.

    Thanks,

    Douglas Ledewitz, Broker/REALTOR
    Pulse Realty LLC
    New Haven, CT 06511
    http://www.pulserealty.com
    NRBA Member
    SHORT SALE Certified
    CT Licensee

  30. Tammy Cundiff
    April 21, 2013 at 9:53 am

    Hey Poncie…

    What bpo templates would you reccomend when trying to speed up the bpo process? Is bpo5000 a good source or how about Realty Pilot?? I dont want to spend a lot of money and would appreciate your input!! I am with the GREATER LOUISVILLE ASSOCIATION OF REALTORS..GLAR.COM

    Thx

    Tammy
    GENESIS REALTY LLC
    LOUISVILLE, KY

    • April 22, 2013 at 10:46 am

      Hello Tammy, we have never used bpo softwares. We utilize our assistants and BPOs are part of their job description. Unless you are receiving a ton of BPO and making a good living off of them, I would think twice before forking out money for BPO work. [poncie.com]

      • Anonymous
        April 22, 2013 at 1:17 pm

        Thank You!

  31. Linda Rozales
    April 17, 2013 at 5:51 pm

    Hi Poncie,
    I have noticed a lot of bank owned properties within my territory that is owned by Bank of New York Mellon. Would you know who handles their assets?

    Thanks Poncie.

    • April 18, 2013 at 12:07 pm

      Hello Linda, Bank of New York Mellon is a BofA investor. More than likely they are BofA listings. Click BofA link for a list of their outsourcers: http://poncie.com/reo-applications/bank-of-america-forms/
      [poncie.com]

      • Linda Rozales
        April 19, 2013 at 4:21 pm

        Thank you very much Poncie for the clarification. You are truly a big help for us agents.

  32. Christy Silver
    April 11, 2013 at 10:45 am

    Hi Poncie,
    Love the cross on your banner below 🙂 I’m a struggling realtor up here in New Hampshire, prior to the market crash I earned a good living. I’m saying all of this just to let you know that I am good at what I do, I have sold homes here in NH since 1998 but have no real leads to work. I listed properties for Ocwen from 2004 to 2010 and that’s what kept us afloat during the market crash. Ocwen started listing all there props with an in house broker out of MA and my income dropped again. If you have any connections with any REO companies and you can pass my name along, I would greatly appreciate it. I’m responsible, accurate and professional, I just need to get my name to the right person so I will have some homes to sell. I appreciate your time.

    Christy Silver
    Associate Broker
    Keller Williams Realty
    Bedford, NH 03110

    • April 11, 2013 at 11:04 am

      Hello Christy,

      Have you applied to any REO companies? If so which ones.

      Click link for a list of REO companies you can apply to [http://poncie.com/reo-applications/].

      As you know, the entire REO world is down. Short sales are up. Have you signed up with 24 asset for REOs and Short Sales? [poncie.com]

  33. Terry
    April 9, 2013 at 2:27 pm

    We received the email about Bank of America pulling their work from NDS there was a link on the email that allowed us to apply with Iserve REO; however, we are a vendor (Title Company) and some of the questions on the application process even though mandatory didn’t seem to apply. Uncertain of what you’d be looking for in licensing, we are a division of First American Title Corporation out of Santa Ana CA, our particular Manitowoc County office here in Wisconsin has been in business for over 50 yrs. we have handled another larger national lenders REO work for going on 8 yrs. now we’d sincerely like the opportunity to see if we could service the Bank of America work here in WI as we do have an agent in all 72 counties and we could be that one point of contact, but I cannot seem to get past the application process on line.

  34. Adora Lazaro
    April 5, 2013 at 10:28 pm

    Hi Poncie,

    I was invited by 24Asset to attend a short sale training at Short Sale Expo in Palm Spring, CA. Are you going? thanks
    Adora

  35. Roxanne Schilling
    April 1, 2013 at 10:45 am

    I have taken the time to sign up for everything and never a phone call????????
    By Roxanne Schilling
    Realtor at Coldwell Banker Lake Tulloch

  36. Cindy Chavez
    March 18, 2013 at 10:12 am

    Hello,
    The above question about the fee, how does one get a listing with B of A or NDA?ISIS ? Thank you for any help given.
    Cindy Chavez
    Real Living Premier Realtors

  37. Tom Salyer
    March 17, 2013 at 7:06 am

    Regarding NDS and ISIS.. you mention wait to see if we recieve a listing well my question is how do I sign up with NDS to even recieve a listing.. it redirected me directly to ISIS and so I did fill out the application but I am not sure it goes to NDS.. and you have mentioned tngvendromanager a couple of times.. who is that and where do I find that link was that on the ISIS site?? and OOO by the way THANK YOU FOR ALL THE INFO YOU SHARE WITH US.. I am training a partner and tell her to use your site to learn.. Whether her and I partner up will be seen but like you passing this nfo on I too want to help her.. So thank you.. you have touched many .. love the video clips

    • March 18, 2013 at 10:32 am

      Hello Tom, thank you for your comments. The vendor mgmt email is located (http://poncie.com/reo-applications/nds/) Contact vendor mgmt and find out if there is a need in your area. If you are a preferred BofA agent, then I would probably sign up and let them know you are BofA REO preferred. [poncie.com]

  38. Mike Fletes
    March 13, 2013 at 5:52 pm

    Hi Poncie, I am a new agent with less than 1 year of experience and only 2 sales so far. Is it possible for me to become a REO listing agent and have them supply me with REO listings? Thanks!
    Mike Fletes
    Troop Real Estate Inc.
    Simi Valley, CA

    • March 13, 2013 at 6:00 pm

      Hello Mike, yes, you can apply. Visit http://poncie.com/reo-applications/
      and start applying. Your location is what matters. REOs are just like any other seller. You have to work to get the listing. [poncie.com]

      • Mike Fletes
        March 13, 2013 at 6:18 pm

        Hello Poncie,

        Thank you so much for replying, you gave me a boost of confidence and helped me by doing this. I think you are doing a great thing by helping other agents in this industry and as you know what you put out in life comes back ten fold. Keep up the great work, I will apply!
        By the way it’s great seeing another Latino come so far and just keep going further ahead in this industry!!!!
        Mike Fletes

  39. Linda Martin
    March 13, 2013 at 3:38 pm

    Can you cancel the monthly payments at any time. Does not say on the
    web site? Thanks

    Linda Martin, Associate Broker, SFR
    Better Homes and Gardens Real Estate Metro Brokers
    Villa Rica, GA 30180
    https://lindamartin.metrobrokers.com

    • March 13, 2013 at 3:40 pm

      Hello Linda,

      Contact tngvendormanager to see if there is a way around this or to see if you can cancel at anytime. [poncie.com]

      • Cindy Chavez
        March 18, 2013 at 10:21 am

        “Contact tngvendormanager”
        The e-mail you give is not complete can you please send me the complete e-mail.

        Thank you,
        Cindu

  40. Gary Tioseco
    March 13, 2013 at 3:31 pm

    Hello.

    I can clicked on NDS to apply and taken to ISIS website to fill out application.
    Did you know that ISIS requires membership fees?

    I get leery about companies that charge upfront fees plus monthly fees to boot.

    Please adivse.

    Gary Tioseco
    AllPRO Realty

    • March 13, 2013 at 3:35 pm

      Hello Gary,

      Yes, ISIS charges a monthly fee. I would wait until you get a listing before signing up to ISIS. Contact tngvendormanager to see if there is a way around this. [poncie.com]

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