BOA outsources to several asset management companies; they may be giving RED CROWN a group of assets to manage. Could be temporary, limited to a section of the country or a lasting REO source. Seems like quite a gamble to tie yourself up with a brokerage like this...can you still manage your own REO that you generate as well?

I did and still am in the AM position, but since the local Red Crown office only has 2 agents, they're looking to expand their territory, so using my address will give them that expanded coverage. They don't expect a lot of listings in the short term, which is fine by me, because I can still work full time and manage a few listings. I informed them of everything about my current employment and they were fine with it all and said that what they need would be an easy match to my schedule and has the potential to grow into a decent book of business.

As far as the BofA listings are concerned, Red Crown only operates in Florida, California, Arizona and Nevada. Like you said, possible to manage the assets in a section of the country. I was just stating what I was told.

I have a full time position as an asset manager at a newer and smaller asset management company (only 1 client at the moment) and manage around 150 assets throughout the southeast. I don't have any personal REO listings (and I wouldn't even think about going with Red Crown if I had any substantial amount of my own volume), so this is a way for me to poke into the REO game a little bit with a larger company and ride coattails. If everything goes how it appears that it will go, I'll be able to build a decent REO resume for myself. Given the corporate butt-buddy nature which REDC and Red Crown were founded upon, it makes sense to me that for someone wanting to get into the REO game, corporate sponsorship seems like a good thing.

The commission structure isn't spectacular by any means, but $X > $0 at the moment in my career (as far as REO listings are concerned). Again, I'm stand-offish about the whole thing, and it's more of an experimental thing without much expectations, and it wouldn't take much effort to walk away from it all.

And if something bad happens, I can always report it here and save others from the same path. So it all seems like a win-win to me

You say that Red Crown is fine with it all, but what about your current employer?

I work on salary and they're fine with it too.