I got a call on 10/21 from a rep. there. He wanted me to sign up for Fannie immediately, and also BoA and Countrywide. I got a listing in two days. I did the bpo (They require these quickly; Got in the next day). They require two (One for First Preston, and one from Multi-Forms {Had to pay $509 for that, then $400 for general liability). Haven't heard from them since. Hopefully that will change soon, but I'm a bit worried now.

FINALLY I received an Interior Inspection and completed it. Their site is different from others I do BPO's for so it took me some time to get used to it - very easy to lose your whole BPO if you are not careful! Supposidely there is a way to communicate with them by by sending notes, I have not found it yet. I phoned the rep, and was given a direct AM for my area. I am told I will be assigned the listing, however I have not received it one week after doing the BPO. I'm also told they will be taking alot of listings from some of the agents who have been receiving a ton of their listings in an effort to spread the love. It's worth it to hang in there with them.

Anyone know of a program that I can use to do numerous BPO's? I have a company sending me alot of them now and the work is killing me. I know there are ways to be much more efficient, maybe one that imports the comps??? I really don't have time to teach my assistant how to do them, and it's taking away from my real business.

Did anyone else get an email about a conference call training for Countrywide listing agents?

Hi,
I am the owner of a small regional appraisal firm in the north east (ct). I have a couple of regional banks that I do work for that are interested in exploring more avenues for marketing their reo portfolio's. Is there organized market or some sort of conference where I could steer my lenders? Please e-mail or call me with any help if you could..

Steve Guagliano, CREA
Certified/FHA Approved Real Estate Appraiser
Advanced Appraisal Solutions
(203) 617-7223
advappraisals@gmail.com

So, i finally received Listing Agent Information and Instructions specifically for Bank of America via email from First Preston. It also contained a listing of First Preston staff contacts and First Preston's Pre-Marketing Property Status Report which i'm required to complete and upload within 24 hours of assigned asset, 8 days after assignment and every 14 days thereafter until listed. Does anyone know if this is a precursor to getting listing assignments? Am i finally in the cue? i filled out all their paperwork months ago, spent $550 on subrogation insurance etc. but haven't heard anything since.

What do you need, a big flashing sign that says, "This is a precursor to getting listing assignments"?!

You received LISTING AGENT INFORMATION and are doing the PRE-MARKETING.

I don't think you are in the "cue" unless you are in a pool hall, but you might be in the "queue."

Congratulations, nonetheless.

TB

"I don't think you're in the que unless you're in a pool hall"?

It's obvious that you've been leading a sheltered life. Have you never heard of "being behind the 8 ball"?.....Trust me, many of my orders would qualify for that statement.....lol

Sorry to hear you're sick.....get well soon.

REO Duchess,
I'm in the same boat as you. I got all the BOA stuff emailed to me this week and last week a similar packet for CW. Plus they are now holding weekly conference training calls for CW. I have never had a listing or even a BPO from them. But on the conference call last week they did say that newly registered agents should be patient, they are aware a lot of us have not received any listings and they will be assigning them. I think they are trying to train and familiarize everyone with their forms and procedures in preparation.

Their policy is as long as the agents they have are performing, they don't reduce their volume, but as soon as they start missing deadlines they get less listings until their rating goes up. I have been getting a lot of emails where they are saying the agents are missing deadlines, so hopefully they'll start using the rest of us. It's a good sign that they are communicating with me.

TB, you're darn right, i need a big flashing neon sign. i was so busy up until the middle of September and then my REO business came crashing to a halt. i know i did a great job since i had asset managers tell me that so i don't think it's me. i LOVE this business and i really hope it comes back. So, sorry i sound a little paranoid! :) The listing agent info and pre-marketing info are not specific to any listing. they are general policy information. In July First Preston signed me up for Bank of America and Fannie Mae - no CW. i think we have too many CW REO agents out here right now. BTW, does anyone know what the commission for BofA is? Thanks.

Listing agents get 1%, but my last listing agreement I got was 2% so I thought that was strange. Selling agents get 3%.

I called to follow up with my contact last week and he said they have everything in they need. I guess I will just have to wait and see if they send my anything. I will keep you guys posted.

Does anyone know if First Preston sends emails when assigning new assets or do you solely get assignments on Hometracker so you have to check on that website several times a day? thanks.

Check a couple times a day, because I get new properties without an email.