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 BPO orders

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Date: December 18, 2010, Number of Replies: 15


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Has anyone out there noticed a significant drop in BPO orders the past 2 weeks? I normally get between 10 and 20 orders per week, but the last 2 weeks have seen less than 10 each.

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Ronny Geenen Real Estate ,  Glendora,  CA

Date: December 18, 2010

Has anyone out there noticed a significant drop in BPO orders the past 2 weeks? I normally get between 10 and 20 orders per week, but the last 2 weeks have seen less than 10 each.



Here are my BPO numbers from the last 6 month starting with July: 45, 57, 55, 43, 47and 31 up to Dec. 17.
Last year my numbers were all between 55 and 75.


Ronny Geenen

Southland Properties

Glendora, CA 91740

626-914-6999 (Office)

Email: Ronny@RonnyGeenen.com

ID #00958752


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Date: December 18, 2010

Dude, I got 23 orders last Thursday alone from 2 companies. I probably turned down at least 10 the following day from other companies. There is no slow down in South Jersey. Hope there is one this week, still got Christmas shopping to do.

Ed Keebler

in response to:

Has anyone out there noticed a significant drop in BPO orders the past 2 weeks? I normally get between 10 and 20 orders per week, but the last 2 weeks have seen less than 10 each.

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Nathan Hepler Licensed Real Estate Broker,  THOMASVILLE,  NC

Date: December 18, 2010

Who do you work with most? Emortgage or Clear Capital? went down for me as well Im in the Thomasville NC area..

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Date: December 19, 2010

I work with both, Emortgage hasn't sent a solicitation in months and Clear Capital went quiet the past two weeks. Clear Cap. was going gangbusters before that. I think this may have something to do with the moratorium many lenders had in Nov. from the robo-signing problem. I'm not sure Emortgage gets many orders in my area, back in summer, they had many orders for about 1 month, then went quiet, I had very few orders prior to July. I also do many orders for Corelogic (formerly FARVV),but since they changed to Corelogic, their numbers have declined considerably. I doubt it's due to scoring, as I get very few requests for clarifications and when I do get them, it's usually for minor issues.

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Date: December 19, 2010

Which 2 companies are those?

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Karen Mathers Licensed Real Estate Agent,  Vero Beach,  FL

Date: December 19, 2010

Wow, so many BPO's! Do you do them as you get paid for them or do you do them to get the listing? How long does it take to do a BPO?

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Ronny Geenen Real Estate ,  Glendora,  CA

Date: December 19, 2010

Who do you work with most? Emortgage or Clear Capital? went down for me as well Im in the Thomasville NC area..



I work only with BofA/Countrywide Homeloans.


RG

Southland Properties

Glendora, CA 91740

626-914-6999 (Office)

Email: Ronny@RonnyGeenen.com

ID: #00958752

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Elaine Krier, crs,gri,abr,sres,e-Pro Licensed Real Estate Broker,  BRIGHTON,  CO

Date: December 20, 2010

Has anyone worked with REO Industry Directory, they have a free service and they 2 other programs that need to have fees. I know that if your on the free program you are going to be at the bottom of the list for the BPO.

Elaine Krier CRS, GRI, ABR, SRES, E-PRO
Krier Real Estate, Metro Brokers
1001 Bridge St
Brighton Co 80601
direct 303-810-7700
fax 303-600-4331
ekrier@homes4brighton.com
www.homes4brighton.com
Selling houses 1 yard at a time

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Ronny Geenen Real Estate ,  Glendora,  CA

Date: December 20, 2010

Wow, so many BPO's! Do you do them as you get paid for them or do you do them to get the listing? How long does it take to do a BPO?

Is the question for me?
No I do not get the listings. Countrywide had created a company within that is called Landsafe and this company served other lenders with their BPO's.
Because I received them in groups of 4 to 8 I am able to line them up and my average time per BPO is 1.5 hour.
I take the pictures first. Then I run the comps and at the end I do the comp calculations. When all is done I put the info in the computer and send them out.

I think I will reach this year about 670. Last year I did 768 BPO's.

RG

Southland Properties

Glendora, CA 91740

626-914-6999 (Office)

Email: Ronny@RonnyGeenen.com

ID: #00958752

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Marvin Von renchler Licensed Real Estate Broker,  Tigard,  OR

Date: December 28, 2010

Ive done about 650 BPOs this year. Almost all were from ClearCap or CoreLogic though Im on fifty lists. You can find dozens of companies in the internet but most are just 'wannabe' companies or 'matchmaker' types that charge but dont give results. Its also almost impossible to get REOs as a result of having a BPO relationship with a true portal company. On the subject though--November was the second slowest for me in 2 years, and December has been a total washout. Nothing. I called all my portals to ask why and was told its mainly becasue the first big wave of BPOS came from loan mod requests and then NODs. The second big wave was DUE TO COME from actual foreclosures but hundreds of thousands of those are on hold due to creative lawsuits and the MERS robo-signing thing. Also the holidays, though Dec 2009 was my best month of all time. All told me to hol onto my hat in a few months when all the foreclosures break free from the MERS problem and the ARM resets hit harder. Id say we have another 1, possibly 2 years of heavy BPO biz left then find something else to do for income, folks.

OH---Many dont know this but Corelogic started a new program several weeks ago that gave platinum status to those whose score is at least 80% (I think) and that meant they get first choice over others in the area. If you had not been running an 80, they still told you that you have a great score but no one ever told me that I was 79 and that a new program would be coming. M score was lo due to taking an average of 2 days so I could do excellent comp work, as I was taking many crappy properties in rural areas around Portland OR. If I had belted a few out earlier, I would have been over 80%. I now receive zero from Corelogic, which means its hard to get to 80% when they give you nothing for the chance. A big slap in the face considering how many Ive done for them.

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Elaine Krier, crs,gri,abr,sres,e-Pro Licensed Real Estate Broker,  BRIGHTON,  CO

Date: December 31, 2010

Ed, That is a lot of BPO I know you work in South Jersey, I'm in Colorado can you tell me who is ordering them.

Elaine Krier CRS, GRI, ABR, SRES, E-PRO
Krier Real Estate, Metro Brokers
1001 Bridge St
Brighton Co 80601
direct 303-810-7700
fax 303-600-4331
ekrier@homes4brighton.com
www.homes4brighton.com

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Juanita Williams Licensed Real Estate Broker,  Parachute,  CO

Date: January 4, 2011

Elaine Krier said, Ed, That is a lot of BPO I know you work in South Jersey, I'm in Colorado can you tell me who is ordering them.
I, too, am in CO-rural area and would like to do more bpos. For whom do you do the work?
Yours To Count On!
Juanita R. Williams REALTORĀ®, e-PRO, SFR, REOS
Bray and Co
970-618-4525
www.SoldByJW.com
Juanita@SoldByJW.com

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Date: January 5, 2011

 

"OH---Many dont know this but Corelogic started a new program several weeks ago that gave platinum status to those whose score is at least 80% (I think) and that meant they get first choice over others in the area. If you had not been running an 80, they still told you that you have a great score but no one ever told me that I was 79 and that a new program would be coming. M score was lo due to taking an average of 2 days so I could do excellent comp work, as I was taking many crappy properties in rural areas around Portland OR. If I had belted a few out earlier, I would have been over 80%. I now receive zero from Corelogic, which means its hard to get to 80% when they give you nothing for the chance. A big slap in the face considering how many Ive done for them. "

The minimum score required for platinum statis is 89.66. I just had them email my score and the score requirements came with it. You need a 71.03 in order to receive Automatic Assignments. I've also been checking into why BPO's are down and it does appear it'e due to the temp. moratorium back in Nov. and also the fact that many lenders are sitting on foreclosures right now (shadow inventory). I expect to see a large increase in BPO's, especially interiors, starting soon, hopefully by this Spring.



Read more: http://www.realtown.com/community/RealTalk/view/JKXVCBA?page=2#quote#ixzz1AAiJCRxR

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Ray Andrade Licensed Real Estate Broker,  Rancho Cucamonga,  CA

Date: January 5, 2011

Anybody out there a member of NABPOP (National Association of Broker Price Opinion Professionals). I noticed that Saul mentioned both Corelogic and NABPOP in a discussion. Any input, ideas, opinions, etc will be greatly appreciated. Thinking of joining their membership. Thank you for any input.

Ray Andrade

Ray Andrade Real Estate Services

ray@ray-andrade.com

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