Announcement

Collapse
No announcement yet.

Foreclosure Business

Collapse
  • Filter
  • Time
  • Show
Clear All
new posts

  • 2019 REO Signup List and Links to Applications

    2019 REO Signup List and Links to Applications

    REO Listing Agent Application and Signup Links below, updated in 2019

    What is an REO Listing Agent? An REO listing Agent is an Agent who puts foreclosure listings active on the open market for Asset Managers and Outsourcers who manage assets...
    See more | Go to post

  • 2019 BPO Signup List and Application Links

    2019 BPO Signup List and Application Links

    BPO Signup List and Application Links For Real Estate Agents. Updated Jan 2019.

    Some Realtors make very reliable income on producing quality Broker Price Opinion Reports for various companies. Some Realtors complete them for the fee, others complete them in effort to win future REO Listings.

    Broker Price Opinion work is something that many REO Realtors begin
    with, because it is a crucial part of being an REO Listing Agent. The people hiring you for REO listings will expect you to be fluent in producing BPO reports to them, to help them determine a listing price. Broker Price Opinion work can be provided by BPO Mills. BPO mills are the companies that are only looking for BPO reports. They pay an agreed upon fee to the Realtor, and the report will not result in an REO listing. Most BPO Mills have no influence in hiring REO Listing Agents. If your purpose in completing BPO orders is not for the fee, but for future REO listings, be sure to ask the BPO source if they offer REO Listings before accepting. Some of the BPO Companies that offer REO Listings ask you to complete the BPO for FREE, so be careful if your goal is only the fee. If you have no interested in REO Listings, doing BPO work for free would...
    See more | Go to post
    Last edited by Kim Knox; 02-23-2018, 12:52 PM. Reason: Updating

  • How to get BPO Work FIRST

    How to get BPO Work FIRST

    Now that you have signed up with all of the BPO Companies that offer work, you are probably wondering how to get the BPO work faster than your competition. You want to know how to get the BPO work before others do? This is the key to really making money...
    See more | Go to post
    Last edited by Kim Knox; 02-23-2018, 12:49 PM.

  • First Short Sale Lisitng?

    First Short Sale Lisitng?

    A bank short sale is when the Seller of the home is currently in financial distress and is at risk of getting foreclosed on by the lender. The Seller is essentially asking the Lender to take less than what is owed to avoid having to foreclose and take the home back. It is costly for lenders to foreclose on a defaulting borrower so banks have been willing to work...
    See more | Go to post
    Last edited by Kim Knox; 02-23-2018, 01:08 PM. Reason: Updated Settings

  • Real Estate Glossary of REO Foreclosure Terms

    Real Estate Glossary of REO Foreclosure Terms

    If you are a Real Estate Professional, you have probably found yourself stumped when your Asset Manager tasks you to do something that is completely baffling! What does that mean? I once got this message, which prompted this post. The message was as follows. I actually printed it out for kicks. "NYO b4 CFK, might be na. If the EV Att has to do a pp ev, we will be out 15 days in or, right?" Now, I could muddle my way through this message, but I wondered how an agent would feel if this was their first REO listing. I could almost feel the blood pumping in my ears when I tried to imagine how I would feel if I could not understand this person I was trying to impress. A Acceptance- A buyer's or seller's agreement to enter into a contract and be bound by the terms of the offer. Adjustable Rate Mortgage (ARM)- Adjustable Rate Mortgage, also referred to as a Variable Rate Mortgage. They both mean the same thing. An ARM is a mortgage with an interest rate that adjusts periodically to reflect changes in market conditions. Your mortgage payments are adjusted up or down (usually on an annual basis) as the interest rate changes. Adverse Possession - a means of acquiring title to real estate where an occupant has been in actual, open, notorious, exclusive and continuous occupancy of property for the period required by state law. Appraisal - An opinion of value conducted by a licensed appraiser. Values are determined by one of three methods. Comparable sales(residential), replacement cost (inisurance), or income approach (commercial). Appraised Value - The dollar figure for a property's estimated fair market value, based on an appraiser's knowledge, experience, and ****ysis of the property and comparable properties near by. Appraiser - A person qualified by education, trainin...
    See more | Go to post

  • Definition of a Broker Price Opinoin BPO

    Definition of a Broker Price Opinoin BPO

    BPO Acronym stands for Broker Price Opinion. A Broker Price Opinion can be used for a host of reasons, and is performed by a local real estate agent who is familiar with the real estate marketplace. It is not a formal appraisal. An appraisal is performed by a licensed appraiser who has done extensive training in assessing market value. A borrowers bank may pay for a Broker Price Opinion in the following situations: a. To consider a short sale offer, or to consider short selling as a whole. b. To consider a loan m...
    See more | Go to post
    Last edited by Kim Knox; 02-26-2018, 12:57 PM.

  • Government Foreclosure Programs to help homeowners

    Government Foreclosure Programs to help homeowners



    Government Foreclosure Programs to Help Homeowners

    Options to avoid Foreclosure. Options to avoid Short Selling.


    HAFA, HAMP, HARP, oh my! You might think they are all the same thing, but they are unique programs that can an alternative to short selling or foreclosure.

    Home Affordable Foreclosure Alternatives (HAFA) Program If your mortgage payment is unaffordable and you are interested in transitioning to more affordable housing, you may be eligible for a short sale or deed-in-lieu of foreclosure throu...
    See more | Go to post
    Last edited by Kim Knox; 02-23-2018, 01:10 PM.

  • The Highs and Lows of REO

    The Highs and Lows of REO

    Agents that work in REO are a different breed than the normal agent ... a mutation if you will. We live in a different world. I personally love being assigned a property. For me, a property assignment feels like I'm a kid at Christmas! I can't wait to go see the property. It doesn't matter if it's a single-wide full of livestock in the middle of nowhere or a beautiful 2 story in a prestigious neighborhood (although we would all rather market the later). I'm so full of anticipation, excitement, and unadulterated joy, that I have seriously considered brushing my teeth in the car to hurry and get there. I am aware this is my own personal quirk...but as REO agents we all have some! REO is like Forest Gump's box of chocolates ... you never know what you're...
    See more | Go to post

  • This could be very Helpful - Fannie Aims to Curb Short Sale Woes With New Site

    This could be very Helpful - Fannie Aims to Curb Short Sale Woes With New Site

    Fannie Aims to Curb Short Sale Woes With New Site Following the success of an escalation process initiated in February, Fannie Mae is introducing another website tool to help real estate professionals close short sale transactions. Real estate listing agents will now be asked to register accepted short sale ...
    See more | Go to post

  • Ocwen Short Sale Contact Information and Forms

    Ocwen Short Sale Contact Information and Forms


    Ocwen Loan Servicing Short Sale Phone 1-877-596-8580
    Ocwen Loan Serving Short Sale Fax: 1-407-737-5071
    Short Sale Email: ss@ocwen.com
    Ocwen Fax Authorization: 1-407-737-6300

    The package that Ocwen sends this Short Sale Package to a borrower this package in...
    See more | Go to post

  • Citimortgage Short Sale Contact Info and Forms

    Citimortgage Short Sale Contact Info and Forms


    Citi Bank, Citi Mortgage
    1-866-272-4749



    Citi Hardship Package

    Affidavit of "Arm's Length Transaction"

    CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix

    CitiMortgage Homeowner Support Site...
    See more | Go to post

  • Hafa Contact Information and Forms

    Hafa Contact Information and Forms

    Hafa phone number 888-995-4373 The HAFA program is available for mortgages that are owned or guaranteed by Fannie Mae and Freddie Mac. To check to see if the particular sale is eligible for consideration, you will need your Clients last 4 digits of their social security number, along with the address. Look up any address using these two tools to confirm if they are owned by ...
    See more | Go to post

  • Nationstar Mortgage Short Sale Contact Informaiton and Forms

    Nationstar Mortgage Short Sale Contact Informaiton and Forms


    Nationstar Short Sale Contact Phone: 1-866-312-2432
    Nationstart Short Sale Fax: 1-972-315-6827
    realtorassistance@nationstarmail.com Nationstar processes short sales through Equator. Call to confirm with your specific short sale to confirm prior to initiating through Equator. Nationstar does not have a specif authorization form they require...
    See more | Go to post

  • Bank of America Short Sale Contact Information & Forms

    Bank of America Short Sale Contact Information & Forms


    Bank of America Short Sale Department
    1-866-880-1232

    The following are forms that are required for Bank of America Short Sales. I have the homeowner sign these forms at the time I have them sign the listing contract.

    Bank of America Third Party Authorization Form

    Bank Of America Short Sale Purchase...
    See more | Go to post
There are no articles in this category.
  • Filter
  • Time
  • Show
Clear All
new posts
Please log in to your account to view your subscribed posts.

Open House Supplies

Collapse

Latest Articles

Collapse

  • 2019 REO Signup List and Links to Applications
    Kim Knox
    REO Listing Agent Application and Signup Links below, updated in 2019

    What is an REO Listing Agent? An REO listing Agent is an Agent who puts foreclosure listings active on the open market for Asset Managers and Outsourcers who manage assets...
    01-04-2019, 02:30 PM
  • 2019 BPO Signup List and Application Links
    Kim Knox
    BPO Signup List and Application Links For Real Estate Agents. Updated Jan 2019.

    Some Realtors make very reliable income on producing quality Broker Price Opinion Reports for various companies. Some Realtors complete them for the fee, others complete them in effort to win future REO Listings.

    Broker Price Opinion work is something that many REO Realtors begin
    with, because it is a crucial part of being an REO Listing Agent. The people hiring you for REO listings will expect you to be fluent in producing BPO reports to them, to help them determine a listing price. Broker Price Opinion work can be provided by BPO Mills. BPO mills are the companies that are only looking for BPO reports. They pay an agreed upon fee to the Realtor, and the report will not result in an REO listing. Most BPO Mills have no influence in hiring REO Listing Agents. If your purpose in completing BPO orders is not for the fee, but for future REO listings, be sure to ask the BPO source if they offer REO Listings before accepting. Some of the BPO Companies that offer REO Listings ask you to complete the BPO for FREE, so be careful if your goal is only the fee. If you have no interested in REO Listings, doing BPO work for free would...
    09-15-2014, 02:49 PM
  • This could be very Helpful - Fannie Aims to Curb Short Sale Woes With New Site
    Chris Knox
    Fannie Aims to Curb Short Sale Woes With New Site Following the success of an escalation process initiated in February, Fannie Mae is introducing another website tool to help real estate professionals close short sale transactions. Real estate listing agents will now be asked to register accepted short sale ...
    06-20-2014, 12:52 PM
  • The Highs and Lows of REO
    Adrienne
    Agents that work in REO are a different breed than the normal agent ... a mutation if you will. We live in a different world. I personally love being assigned a property. For me, a property assignment feels like I'm a kid at Christmas! I can't wait to go see the property. It doesn't matter if it's a single-wide full of livestock in the middle of nowhere or a beautiful 2 story in a prestigious neighborhood (although we would all rather market the later). I'm so full of anticipation, excitement, and unadulterated joy, that I have seriously considered brushing my teeth in the car to hurry and get there. I am aware this is my own personal quirk...but as REO agents we all have some! REO is like Forest Gump's box of chocolates ... you never know what you're...
    06-19-2014, 02:04 PM
  • First Short Sale Lisitng?
    Kim Knox
    A bank short sale is when the Seller of the home is currently in financial distress and is at risk of getting foreclosed on by the lender. The Seller is essentially asking the Lender to take less than what is owed to avoid having to foreclose and take the home back. It is costly for lenders to foreclose on a defaulting borrower so banks have been willing to work...
    06-19-2014, 01:35 PM
Working...
X