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#360101 - 12/09/10 09:06 PM Re: Cash reserves [Re: Georgia Beach]
Devilish Katlyn Offline
Member

Registered: 10/11/10
Posts: 33
Loc: Show Low, AZ
I severely dislike LPS invoice. Honestly, that system finds more ways not to reimburse you. The $5 fee per invoice is rediculous, every time you get a new servicer you have to make sure they get added on, and documents uploaded sometimes will show uploaded but actually aren't. And with the $100 minimum per invoice, you have to wait sometimes a good while to build up enough expenses to be paid. If I could avoid it, I would.


Edited by Devilish Katlyn (12/09/10 09:08 PM)

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#360138 - 12/10/10 10:31 AM Re: Cash reserves [Re: Devilish Katlyn]
STEW Offline
Veteran Member

Registered: 08/27/07
Posts: 519
Loc: FLORIDA

$100 min invoice? That must be asset management company specific, I submit less than $100 regularly without issue, but often combine them to limit to 1 $5 fee
That $5 fee should be reimbursed to us..what other job would make you pay to get reimbursed for expenses you incur at the request of the employer or contracted employer in this case.
I like the system though, they dont bounce back much and process payments very quickly by comparison.

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#360221 - 12/10/10 09:12 PM Re: Cash reserves [Re: STEW]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1620
Loc: Missouri
Fannie Mae has a $250 per invoice minimum. They do not charge for the invoice, like LPS, though. LPS charges, but they pay pretty quickly. Fannie is taking three months on some of my reimbursements.
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REALTORŪ, Broker/Salesperson, GRI, ABR
REO listing/selling since 2004; BPOs

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