Hey guys, new poster here.

I've been an agent for over 4 years now and I'm getting around to start doing BPOs. I got a few lists of companies and I'll be registering with them this week.

My question is this: How does the fact that I am a licensee working under a broker's license come in to play as far as getting paid for BPO's? Do the checks go to the broker or to me directly?

Thanks!

That depends on your jurisdiction; the Rules and Regulations of the State or Commonwealth where you have your License will dictate, and you'll also find that most Firms will want to pay the Fee to the same Company that pays for the E&O Coverage.

Many Brokers don't want to be bothered with processing these dinky payments . . . . but they are also reminded that they are responsible for the actions of the Licensees that practice under them, and that can be interpreted to include the liability for their Agents preparing these BPOs.

Depends on your state rules and your broker. When I started doing BPO's my checks were in the broker's name. After a while this became a PTA and I now get paid directly.

There is a nice section on this forum for BPO's. Scroll down a bit for some great information!

I'm in NY.

I'm in NY, works either way. My broker is an REO "King", or at least "Duke". I always use his resume and affiliations to leverage applications, something to consider.