I have a list of asset management companies that I've been updating for some time now. It has about 400 lenders and asset managers, with tons of contact info, all in Excel format. For a while, and even after REO was the business to be in, it was useful. We picked up about 6 REO accounts, and 5 of them were from this list. The REO industry has since become a bit more political and nevertheless, has changed in a way that only large, nationwide title companies are sought after for title and escrow services. In order to simplify their processes, they want to have fewer points of contact, even if it means the level of service will suffer, and the title fees are sometimes 250% of that of a local provider.
Being the red-headed step-child of First American (did I just say that outloud?) we have access to many of their resources, but none of their business...so nothing has been handed to us from the guys at NDTS or FAACS. We've earned everything we've got. But now it's much more difficult to rope in REO business, even with direct contact info. Obviously, there is more competition every day, as companies try to avoid the difficult, cancel-happy short sale game. Also, the REO faucet has been turned down a notch, so established competitors are fighting to make up for lost inventory as well.
This list of asset managers isn't as valuable to me as it used to be. The big dogs are getting bigger, so I'm actively marketing for short sale business. But, to an agent, I can see its power. An asset management company will usually have one escrow provider for an entire region, but a few dozen Realtors. We've all had the cross-sales with the REO listing agents who don't have a clue (not to mention the title companies tend to be run like sweat shops). These agents are getting fired all the time! They're too busy and asset management companies are starting to figure it out!
I'm not really sure what to do with it, but this list could hit the market some time in the future. Did I mention that we are one of the largest data providers in the world?