BPO Slow-Down - Anyone Else Seeing This?

By
Real Estate Agent with Coldwell Banker Kivett-Teeters BRE 01844442

 

BPO Slow-Down - Anyone Else Seeing This?

 

We try to keep a steady flow and cycle of BPOs coming in through our office. In fact, we work with a few companies simultaneously. But as of the middle of August we have really seen a slow-down of BPO requests from all of the companies we work with.

We're pretty darn sure its not related to our quality of BPO processing- We have high standards for ourselves regarding BPOs.

So We thought we'd ask you, the ActiveRain community what your experience has been of late. Have you seen a slow-down? Or is it just us?

 

 

Posted by

CALL US NOW TO SELL YOUR HOUSE: 1 (888) 9-LIST-IT

 


G
ARRIGUSREAL ESTATE

Foreclosure Agent/REALTOR & Short Sale Specialists
SERVING SOUTHERN CALIFORNIA
Coldwell Banker Kivett-Teeters Associates

GarrigusRealEstate@yahoo.com
www.GarrigusRealEstate.net 

Devona Garrigus / DRE License # 01844441

IMPORTANT DISCLOSURE in compliance with the FEDERAL TRADE COMMISSION ("FTC") MORTGAGE ASSISTANCE RELIEF SERVICE ("MARS"): Before using this service, consider the following information - Coldwell Banker Kivett-Teeters Associates are not associated with the government and our services are not approved by the government. Seller acknowledges that the Broker/Agent is not qualified to provide financial, legal or tax advice regarding short sale transactions. Therefore, the seller is advised to obtain professional tax advice and consult independent legal counsel immediately regarding the tax implications and advisability of entering into a short sale agreement with their lender/servicer. If you stop paying your mortgage, you could lose your home and damage your credit rating.

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Topic:
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Rainmaker
1,030,681
Endre Barath, Jr.
Realtor - Los Angeles Home Sales 310.486.1002
Berkshire Hathaway HomeServices

Todd, I noticed the opposite, increase in this area, also the time lines have been shorter, they want it instantly

September 01, 2010 04:48 PM
Rainmaker
286,462
Martin Kalisker
Weichert, REALTORS - Synergy: MA Real Estate & Mor
WEICHERT, REALTORS® - Synergy

We are experiencing a steady growth of BPOs as the companies no longer allow non-verified agents to do the work for brokers, etc.  Also, the BPO companies are looking more closely at the distance that suppposed BPO experts have to travel to a specific location.  All too many of these "warehouse BPO shops" do the work from a desktop and use satellite images of the home or pay a local kid to take the address verification photos.  I've seen it happen.

September 01, 2010 06:01 PM
Rainer
27,457
Alan Bruzee
Long & Foster Real Estate, Inc.

The BPOs remain steady accoring to the agents I talk to.

September 03, 2010 05:39 PM
Rainer
43,656
Laura Resnick
Carol Stream, IL 630-975-0615, RE/MAX Associates W
RE/MAX Associates West Bartlett, Il. 60103

I have seen a significant decrease in bpo's.  I have asked many times if there is a problem and have been told that there have not been many in my area.  I had many in July and a smattering since.  It has made a difference in my income, that is for sure

October 11, 2010 10:31 PM
Anonymous #5
Anonymous
Garret Snyder

I have seen a real slowdown in BPO's in my area. One or two here or there.

October 14, 2010 05:30 PM
Rainer
2,453
Melissa Royal
HomeSmart

I have seen a huge decline in my area, nearly 1/3 of what I was doing last year.  Especially on Fannie Mae products.  I have also seen a slowing in REO listings.  However, it seems we still have just as many defaults in our area, so I can not get to the bottom of it...

June 29, 2011 06:06 PM
Anonymous
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Rainmaker
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Garrigus Real Estate - Call Now: 1 (888) 9-LIST-IT

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