OCWEN is not a welcome / rewarding experience. Their website is difficult to work with, think its by design. Their property managers always have a stories why it's not their responsible, and you do not know their system. Work order numbers are assigned for tasks that need to be done. Payment for completed REO work orders - vendor services are difficult to collect. Always a reason why your invoice is submitted wrong. Known of a Broker who got to the accounting department and asked about repayment of vendor for work order they authorized (new roof) and the person started laughing at him. They were in accounting and knew nothing about payments due. Property managers tell you to take it to acccounting....the go around and around response to customer service...
They take out fees for their paper work handling, question your all your bids, are slow on getting payment out to you after work has long been completed. Typical turn around is 3 to 5 weeks to know if they are going to pay your invoice. Then another 3 to 5 weeks after the problem is corrected and wait if that fixed the problem. then some more excuses.... Expect this is their normal routine....
,
Ocwen is the worst company to do business with . I worked with them as an asset manager . A word of caution to all my agent friends .Do not upfront your hard earned $$'s . They are the biggest cheaters .you guys are correct . The staff in India dont know what Real Estate in about . They pick up undergraduates and make them work . These guys cant speak correct english .The worst part is the manager in India does not know the R of Real Estate . You would not beleive it majority of the staff dont know whats a deed . And to make matters worse the team leads at Ocwen too are undergradutes . Now how do you guys expect a undergraduate to speak proper english and manage operations . Due to the management style of working the most experienced person in Ocwen India has spent just 1.5 years in the organization and is not heading operations India . What a shame . They would never answrerr the calls or reply to the emails .
Now do you guys want to work for a company thats about to file bankruptcy
Ocwen... They just get worse....its hard to believe that they have the VA government contract. Thier lawyers can not get Ocwen Property Managers to pay their authorized work order bills before closing. Then they try to shift their non payment problems back to the you. Encouraging vendors to file mechanics liens is the only way to send a message to them that enough is enough. Wonder how the VA handles their low contract bidders that have poor performance. Just a thought.....
Phyllis,
I was seriously thinking of signing up with Ocwen but I had heard a lot of bad things about them. If they are using people from India that do not know anything about the business and can hardly speak English, I think it is a bad move to work with them. If it is true that they are about to file for bankruptcy, why work for them when there are so many other reputable companies out there.
I worked for Ocwen for a few months. And yes, their outsourcing tatics are shamful to say the least. I recieved a heavy dose of BPO's from Ocwen, and they were slow to pay. It appears as though the rumors of Ocwen going into Chapter 11 have validity. I wonder what goverment appointee gave the VA contract to Ocwen? No wonder our goverment is in the shape it's in. NO accountabilty? One writter suggested filing a mechanics lien against Ocwen. The problem is Mechanic's leins don't have the same affect intra-state as they do within the state on interest. Broker, Ralph.
Hmmm ... good information to know!! I don't want to waste my time working for a company who doesn't pay!!
I just completed a BPO for them - we'll see if they pay.
Thank you for your information ...
How in the world do you do 50 BPO's a week. I need to know. I'm not doing something right. It's tough for me to do 10.
What am I not doing right ? Also, is anybody getting more than $75 for a drive-by ?
OCWEN has been paying me in a timely manner, but management sucks.
I stopped my BPO work-- after they delayed payment and on the BPOs where I negotiated my fee to $150+ -- they never paid.
Everytime they called me to ask for another BPO-- I reminded them of this one-- they told me to email them -- so they could "research". They never got back to me in regards to my money.
Had I had half of a mind-- I would have put a lien on their properties.. LOL-- That would have gotten their attention! :)
-Jason
Matthew,
This was about 2 years ago-- They might have changed-- but I have lost all faith in them.
They were canceling my BPOs when was submitting them (literally right after I hit submit)...
I can't trust someone like that.
For straight payments-- I'm all for Clear Capital! They pay on time-- they never cancel and they are based in the U.S.
-Jason
Have you ever received an REO from a BPO via clear capital? I know they are only a BPO company, but I have heard that people have indirectly received REO listing because of BPO's with C.C.
Let me know
I have one of their listings but refused to take a 2nd one from them. They still owe me money for doing the lock changes and keep making up phantom reasons why they haven't reimbursed me. I'll probably still do BPOs (if they still give me any) but that's about it.
The VA may not renew with them but what about the non-VA loans/banks? That is probably more of their business.
I don't want to be the poster child for Ocwen, but they pay so fast now. I get my payments automatically deposited in my bank account in about 7-10 days from when I finish the BPO's.
You have to call and ask them to set you up on the auto pay.
Ocwen has never once disputed any of my BPO's and has paid me for each one in a very timely matter.
I have done a couple of BPO's for Ocwen and have one REO I am doing and am tracking another and will eventually get the REO Listing. I have not experienced a problem getting paid on the BPO but am having some difficulty getting paid for expense items on the REO's. Ocwen requires you put utilities in your name and when the bill comes out for reinbursement I sent the asset manager a copy of the invoice and my check showing proof of payment. The asset manager generated the order on RealTrans but again I have to submit the same info to RealTrans to get paid and I am having a difficult time uploading the information and get the run around and still have not gotten paid. I explained my problem to the asset manager and he gave me the name to his supervisor. I hope I get this resolved. I do not mind getting business from Ocwen but do feel taken advantage by some of the workers.
THE REAL PROBLEM IS WHEN YOU LIST THEIR VA OWNED PROPERTIES. THEY EXPECT YOU TO PAY ALL LATE FEE'S ON ANY HOA BILLS FOR THAT ASSET. THE PAY THE ELECTRIC BILLS FOR THE PROPERTIES LATE AND THAN EXPECT YOU TO EAT THE COST. THEY TAKE OUT FEE'S WHEN REIMBURSING YOU FOR A BILL YOU PAID FOR THEM ON THEIR BEHALF. THAN ANY ATTORNEY FEE'S THEY EXPECT YOU TO EAT IT. THAN IF YOU DONT THEY HARRESS YOU , AND THREATEN TO FIRE YOU. WOW I AM BLOWN AWAY WITH SOME OF THESE REPS AND THEIR REAL REAL BAD GODLY ADDITUDES. AND THESE ARE THE ONES IN FLORIDA THAT SPEAK ENGLISH. 80 % ARE NICE, AND SOME JUST ARE NASTY, THEY SPEAK DOWN TO YOU, ORDER YOU AROUNDLIKE THEIR SLAVE.
First off I did work for them so do not hate me, I worked for Ocwen in the VA department and alot of the problems that I encountered along with my fellow employees at the time is we would try to address problems with assets, mainly hoas or transitional bills prior to ocwen taking over, and we could never get management to answer us or respond to the issue. Often approval would depend on thier mood and I have more than once been turned down for a work order and then go back 2 weeks later because I knew they would not remember and had them sign it. They also do not , I am talking about management, seem to understand the contract they have with the VA and are always reacting instead just understanding what their resposibitlities are. The realtrans system is a pain in the a$$ mainly because no one seems to go by the same submitting procedures but they have gotten better in payment time.
The big problem the VA had when they were managing the properties themselves is they had a big corruption issue within thier agency, do not know how many of you remember that, and elected to bid out the servicing.
I know alot of the staff on the VA side @ ocwen do not expect them to keep the VA contract and are concerned but when I left I went to another company that does the same thing,starts with a F, and since I have been here they do not really operate much different unfortunately. This company is suppose to be going for the contract and I belief they said the decision will be announced in June by the VA.
I heard that Ocwen was going to lose the VA properties but what happens to the listings that are ongoing at the time? I have two in pre-list now both VA and was curious. I have submitted bills for things I have done and they keep rejecting them. I would like to get my money back at the very least. I am not sure what company you mean that starts with an F. I would like to get on their list so at least I can keep the VA listings when the switch happens.
I do not know what will happen to the listings, the actual contract is not up till the end of this year. As for rejected invoices, most of the rejections that happened when I was there were for the following:
no dates on invoices
forgeting to attach actual invoice to submission
the address and contact information of the company that did the work
failing to submit the reports from termite or mold inspections along with the invoice
Fidelity is the name of the company.
FOR ALL REALTORS STILL DOING BPO FOR EVALUATION SOLUTIONS! PLEASE BE WARY, DON'T DO ANY BPO FOR THIS FLY BY NIGHT COMPANY IN FLORIDA. I HAVE SEEN A LOT OF BLOGS ABOUT THEM NOT PAYING FOR THEIR BPO WHICH THEY ALWAYS WANT A 24 HOUR TURN AROUND AFTER YOU ACCEPTED THE ORDER. THE PROBLEM THEY ALWAYS GIVE YOU A RUSH ORDER, AT A VERY CHEAP PRICE, THEN YOU WAIT 60 DAYS TO GET PAID OR NOT EVEN GET PAID. YOU CAN MAKE A BETTER USE OF YOUR TIME ESPECIALLY NOW THAT GAS IS VERY EXPENSIVE. I ATTACHED HEREWITH A LINK TO http://www.ripoffreport.com/ ABOUT THIS VERY BAD COMPANY.
Okay a heads up here, OCWEN did not bid on the VA contract, cost to maintain and work the contract per VA guidelines and price points along with some other issues were the reason the bid did not happen, according to OCWEN. My friend who works there as a VA asset manager said all the employess found out last Friday because it was on thier website but thier managers have not told them anything. The VA confirmed OCWEN did not bid on the contract. His manager acknowledged the website was correct but that they need to continue working the assets they currently have until they are told they are not needed anymore, kinda of poor management procedure if you ask me, and then they would be told if they would be giving serverence or not. Apparently they were told not to adjust in thier system that all listings will terminate on 08/23/2008. The contract for them ends 07/24/2008, with a transitional period.
Any way he told me that all the VA asset managers are trying to keep working like normal but most are just counting the days and using all thier earned time off so they will not lose it and OCWEN management still refuses to talk to the staff about and essentially cites that they are not privalaged to know and it is for management to disclose when they are ready to.
FYI......
I have been doing bpos 3 now to be exact thay are only paying 50.00 doesnt seem worth the gas nowdays however it is not my goal. The long term is to get the listings. You guys have worried me about the bills they stick you with. I was hoping to get some listings from them but if I have to front a bunch of them I dont know If I want it. Any more companies you know of for getting listings. I am in Dallas TX Send me some referrals xoxoxox Good luck to all of you.
Lisa Richardson
972-285-4663
www.loansbywilliam.com loans closed in 8 days yes 8 days fha, va, conv He does them all loans in all 50 states. William 214-536-9154
I just submitted a PA to the realtor who is handling the property for Ocwen. The property just went on the market. I heard that Ocwen will sit on the offer from 10 to 20 days, is this true? I listed an expiration date on the PA but wanted to check on this. Also, I heard horror stories that once they accept your offer, getting a closing date can be a very big hassel, is this true as well?
OCWEN sometimes requires that the property be marketed for at least 72 hours before accepting an offer. Other than that, my experience has been 24-48 hours to get an informal yes or counter-offer. By informal, means they will send me an email indicating their acceptance of the offer or terms for the counter. If the buyer then agrees to those terms, it is actually up to the listing agent to prepare the counter or bank addendums and get them signed by the buyer. Once that is done, than OCWEN counter-signs them. I'm sure some of the timeline depends on which asset manager is assigned to it and also having a competent and persistent listing agent.
Ocwen- escrows seem to be the fastest and easiest to close once accepted out of all the REO vendors I work for. The asset managers don't know much about the billing etc and the process for getting paid back is tedious due to the need to e-mail the asset manager to request a work order to submit any bill (including utilities less than $10). Step 2 a work order is created on their system hopefully in the amount you requested because if the bill is $4.80 and the person imputs $4.88 the system will reject the bill and you have to start over. Step 3 you upload copies of the bill and check and any required photos. Step 4 10-20 days of processing and review if you are lucky its approved and paid. If not it is rejected for a various number of reasons such as "service dates don't match service dates requested." (I still haven't figured that one out yet). If rejected please see Step 1. (Sometimes if the bill is not $20+ It goes into my write off file because I cant spend $30 to get reimbursed $20.
Other companies I do REO work for usually automatically approve small utility bills and there is no pre-authorization required to submit them. Pre Authorization is particularly tedious when you are batch billing on certain days as the delay for getting those work orders created is sometimes a few days or sometimes they just don't respond to them at all.
Oh. And now they just started taking 1.4% as a referral fee and requiring me to submit 6 updated photos of the house every 2 weeks.
Good luck. If this helps you send me information on any REO networks that are doing good for you. wendelltu@aol.com
Ocwen assigned a listing to me recently. They offered me a 60 day contract and they insisted that I list the property for nearly double what the property was worth. Furthermore, they wanted it listed immediately and didn't want me to wait until trash-out was completed because they said they were already in "marketing mode." It would have cost thousands to clean up the interior and the yard. Furthermore, the property had a failed septic and numerous code and safety violations (such as doors that opened from the second floor with no deck or steps) that needed to be taken care of in order to prevent an accident during a showing. And all for just 2%!
I told them to forget it. They hired another broker who agreed to list it without providing any disclosures which would have been obvious from a visual inspection and a visit to the local building department. The other broker simply says in the comments that the selling broker is to provide due dilligence. This is a joke. It makes doing business in this field very difficult. While I realize foreclosures are "as is" and that information is limited, as a listing broker, I have always made it a point to find out what I can about a property by talking with the neighbors and visiting municipal offices to see what violations, if any, are on file. The banks seem to be listing the properties with agents who don't bother to do anything or verify anything.
I had this experience with them over a year ago, they would want me to list stuff that was way to high, or those that should not be on the market with so many problems. They sort of put me on their black list for insisting we do it right.
I think Ocwen is trying to get as many on the books as they can before they go away. It is said they are no longer the servicing company for VA. I have been trying to find out who the new company is.
Does anyone know who the new comany is, and if so how can they be reached?
From what I heard, Countrywide has received the VA contract. I have been trying to get into Countrywide in my area for their REO's because I do their BPO's but have been unsuccessful so far. They seem to give their listings to two agents in my area only. I have spoken to a Countrywide local rep because I had heard that you had to be recommended and they said that wasn't true so who knows. I have no idea why the VA would go to Countrywide.
Thanks Phyllis for your input. I have done a lot of work with them, but this is the first time that I have heard they got the contract. I will check with the local branch manager to see what the scoop is.
I do a lot of BPO's for FARVV and many of them are for Countrywide. Are you dealing with them on a direct basis? I need to ad some more companies and if you know some I would appreciate any leads you can give me. I am doing them now for Clear Capital and Ocwen also.
I do them for FARVV and for Countrywide directly. FARVV puts them out on a broadcast and I usually miss them but Countrywide assigns them directly and gives you 24 hours to accept. They pay more than FARVV ($55) for exterior and more for interior. It is funny because I will accept on their site and then a few hours later see the broadcast go out on FARVV but of course, I do not double dip for the same properties. So they basically get two BPO 's done.
Thanks. I didnt know Countrywide put them out directly. I am now getting direct orders from FARVV and tyr to catch the broadcast but miss most of them. I got 42 last month but I really neeed 80. Do you know any one else and how do you sign up with Country wide didectly?
I'm In Sacramento..been working with Ocwen over 3 years..now just got the email notice that all my REO VA owned listings were being assigned to Countrywide..i knew something was up since my BPO ordersn had pretty much dwindled to 1 or two a month..sometimes I would get 10 in one day..plus..I think I was blacklisted too after I got ticked off with them when they pulled a listing from me right in the middle of presenting offers..after that experience all the business from them got slower and slower..I'm not surprised they lost the contract because they are difficult to work with..I agree with many of the blogs I have read about them here..I always knew I was in a cutthroat business, but after dealing with Ocwen I feel like I have been in a bloodbath. Good luck to all!!
I received the same notice on one that I had in prelist. I knew they were losing the VA contract but thought that would be effective for new properties not the homes that we had already started working on. I am really angry as this one was a royal pain with a crazy man who called the police every time I went near the house to do what the bank had rights to do (change locks, remove trash, etc.) I am rushing now to get all the bills in so I can at least get that back but I can't get my time back.
Phyllis, you should post this as members only as some of the conversation is a little more critical in nature than it should be, just my opinion.
Holy smokescreen Batman. What if the VA was pulling all their listings from Ocwen and giving them to another previously failed mortgage company to manage? Tune in next week to find out whats been happening behind the doors of true american finance and the name of that mysterious but well known company name.
Well the cat is already out the bag. The announcement has already been made that it will be Countrywide taking over. I posted the announcement about 2 weeks ago to Active Rain. To get any of the listings you have to be on the list of agents that work regularly with them. I already have my application in.
I have done work for Ocwen for 8 or 9 years but now I am very upset because they are very slow to pay me for cash I have put out to pay bills. Also the last 2 transcations I have found the people I have worked with in India to be slow to respond to questions as when they do I find a real additude problem. JUST BE CAREFUL
I am trying to work with them now, these comments are a bit frustrating but as i see that different people have different experiences I will continue to try to work with them.
Hi Freddy,
Good advice to you, try to find a good bank that actually know the meaning of Real Estate! they are not worth the frustration. I worked for them for 2 years and I am glad that I am not working for them anymore. Gives me more time to work with some awesome Banks and Asset Management Companies out there.
I have worked with OCWEN for a couple of years and they were always a little hard to deal with but things got done. The last 2 months though I have noticed delays in paying legitimate invoices for utilities and a drying up of new listings. What is going on, are they going under?
Sonia,
Ocwen is still out there, but the reason the listings are drying up is that they were the VA REO Asset Manager, but have since lost that contract. At present I think the delay in paying invoices is due to the fact that the new manager and Ocwen have some of the same properties on their book. I know this to be true because I have received some of the old Ocwen listings from the new company. Some of the properties that were reassigned were under contract, but still transferred.
Okay, I've been doing BPOs for Countrywide for quite some time. Recently, I have been completely locked out and they sent an email saying they will send a letter (Fed x) explaining why. I am freaking out. My license is up to date and all. I did have a friend check my stuff while I was moving and I am thinking there may have been a few times where we logged in at the same time with my password. Do you think this would it?
Whoa!! you have to let us know what happens with the Countrywide Lock-Out!!
I had 1 REO with OCWEN this year. The asset manager and premarketer from India were a pleasure to work with. My main complaint is that they have a system where they don't reimburse you 100% for expenses. They take out a servicing fee. So I don't recommend ordering to many repairs. Ocwen pays quickly with direct deposit. You should not expect money from them unless you have this. I too have noticed a drop in BPO inquiries. I attributed this to more competition. Years past Ocwen was one of the only BPO and subprime lenders and servicers. This has changed. Aloha Julie
Any word from Countrywide yet? I am curious as to what happened. I have not been getting many orders from them recently but did not get locked out of their system. I wonder what is up.
I know Julie. It killed me when they deducted $25 or whatever for a furnace repair or something that I paid out of pocket, met the repairman, got the estimates, etc. and then it costs me money? I assume that money is paid to REALTRANS but I don't see why the agent has to pay it. My BPO orders have slightly increased lately but no new listings in my area for me. They obviously have a lot of new agents signing on now.
Hi all,
I thought but I may be wrong, but isn't REALTRANS a creation of Ocwen? I remember before there was a REALTRANS, and I got 100% of my money back. Well I know that Ocwen is still in the game, but let's face it their inventory has been geatly reduced doue to the fact they lost the VA contract.
What happened to RealTrans/Ocwen? I have not recieved a BPO order from them in 3 weeks! Not one! I used to do up to 50 a month! I called and the rep told me if they had orders to send me, they would. I asked her over and over why the amount of work had dwindled and she told me the same thing...they would send me orders when they had them. I also asked her if I was somehow blacklisted and she said no, my account was fine. They owe me money for BPO's done in October! BUT, they have paid me on some of my work in November. I went from about 50 BPO's per month to just 5 in November! What is going on??
Effective the beginning of December Ocwen is supposedly email blasting their BPO's which means that they are not being assigned and the first Realtor on the site to accept, gets it. They also reduced their fee to $45. I have seen a big drop too but I never had anywhere near 50 a month. You must be in a busy area. I also heard, which I don't know how true it is, is that Ocwen is going to be using their own "inhouse" Realtors to sell the properties. Don't see how they can do it in every state since they would need to be licensed but who knows.
Effective the beginning of December Ocwen is supposedly email blasting their BPO's which means that they are not being assigned and the first Realtor on the site to accept, gets it. They also reduced their fee to $45. I have seen a big drop too but I never had anywhere near 50 a month. You must be in a busy area. I also heard, which I don't know how true it is, is that Ocwen is going to be using their own "inhouse" Realtors to sell the properties. Don't see how they can do it in every state since they would need to be licensed but who knows.
I used to make about $400 dollars a month with Ocwen and still waiting for $200 to be paid by them. I noticed in November the amount of orders were low and wonder if I had done anything wrong but my score was still high. I received one of their auto orders the other morning for a bpo 65 miles away for $45.00. A month ago I did a bpo for them in the same area for $100.00 I didn't even response because it wouldn't be worst the time, gas, etc. So I quess I will cross them off my list.
LADYSHAY10: They have now gone to "blasting" their BPOs and whomever grabs them first, gets to do them. Not fair for years of loyalty but this is what they have done. Also they reduced the fee down to $45 and less time to do them. I have only been able to get one since they changed to this system.
MONA: They always want you to pay for things like electric, repairs, etc. and then reimburse minus their 5% fee which never made sense. They do not deduct from electric but will do so on the other items. So basically you lay out the money, get paid less than what you laid out, and can wait for months to be paid back as they always bounce back the invoice you submit several times to delay payment.
holy buckolyee! just received my first assignment from ocwen..will need to do cash for keys etc. maybe i should reject it? i did the occupancy check and bpo, bpo was ordered the day before i got the assignment in my e mail, not even approved yet, shows 'delivered'..i don't want to pay out either. Is there not a way for your vendors to sign up to be paid directly from ocwen, and bypass you (except utilities)
I have only received one BPO after they changed systems too. I wish I knew what to do to even get the request. I was getting 2 to 5 every week for about a year prior to that!
I have heard a few agents refer to paying for zip codes for listings. Does anyone know what they are talking about? I can't find anything on the system.
Thanks!
Michelle: I have managed to grab a few. I do not think you can pay for zipcodes on Ocwen. There are other companies that you do that.
Victoria: Vendors can sign up directly with Ocwen but then they would have to submit the bills directly. As long as they are computer savvy and prepared to have the invoice rejected numerous times, this may be the way to go. They usually don't offer much for keys, less than most others.
If you want to buy zipcodes, you can do that on REOTrans. There you get 1 free zipcode and can buy more.
well, I rejected the offer to list, but they keep sending me inquiries if I have completed cash for keys, if they did not send me a check, how could I! I have left messages on the voicemail for the manager..nothing. I do a fair amount of bpos for them, hoping that they don't count this against me as some "late" or mismanaged file!
Ocwen sent me a BPO with the address as Lot 12. I tried for several days to explain to them that was not an address or a complete legal. The y finally sent me a complete legal . I completed it it the same day but now they show I was late so my orders have slowed way down.
I used to work for Ocwen as an asset manager, learned alot however being on the other side now as an agent listing properties, it is a royal pain. Almost all the asset managers and people that can help you are in India, and there is a language barrier as people on here have stated and they also decline many bills you submit with nothing wrong with them, I believe just to keep not paing longer. I am done working with them it is not work the hundreds and thousands you have outstanding and then they take a referral fee out of you rmoney now, absurd! ONE OF THE BIGGEST ASSET MANAGEMENT PROBLEMS IN THE U.S. NOW IS RELYING ON THE AGENTS TO TELL THE BANK WHAT IS WRONG WITH THE PROPERTIES, & THEN ASKING THE AGENT TO PAY FOR THE REPAIRS UPFRONT-HELLO THEY ARE NOT TELLING YOU WHAT IS WRONG WITH THE PROPERTIES SO THEY DON'T HAVE TO HAVE PAY OUT OF THEIR POCKET THEN WAIT 2-3 MONTHS TO GET REPAID!
Tom,
I used to deal with Ocwen, I must knock on wood they do not owe me any money. I think they sort of black listed me, as I would be on their case constantly. Constantly I would be asked for estimates for repair, or take a picture of something every 2 weeks. These properties did not just get up an walk away, or fix themselves. The contractors got mad and started wanting pay for estimates, as they caught on that more than likely no work would be done anyway. What was up with the transaction fee on all the reimbursements? In the end the agents were always getting the short end of the stick. You pay your contractors then try to get your money back and be told I had to pay a transaction percentge to get PART of my money back. Ocwen and contractor win...Agent (-0).
I have seen other realtors going crazy trying to please them with BPO's Cash for Keys, interior photos the whole enchilada with the hope of getting a listing from them sooner or later. Well it just happens that they have a contract with a couple of realtors in Orange, Riverside and San Bernardino Counties, and nobody else will get listings EVER.. How is that for a hard work realtor.... FORGET IT....
I have been doing work for ocwen on the property preservation side of things and have also been doing bpos for them, I have started noticing their bpos getting listed with the same company now and that is Real Home Solutions or something, but it is a Ocwe owned company in Florida, what is the point of valuing their property tht you will never get to list. or driving by a vacant property and securing it and managing it for money that you will never make. Am I just waisting my time or will something come of this............
I work for ocwen as a listing agent for them for the past yr. Sold 22 assets for them at 96%sp/lp and now I just confirmed that they will only be giving new listing assignments to the their inhouse realtor. Ocwen basically made their own real estate company down here in florida as well as Ca and AZ, they are basically going with the largest states with REO inventory. So what they are doing is listing the property on mls with a realtor they hired as a salary employee and then when you have question about the property you have to call a 800 # that directs you to their call center in india. The crazy part is that from everyone I spoke with they say this is perfectly legal because they own the asset and it will be considered a fsbo. I really not sure how this businesss model works, because who are they getting to maintain the property and deal with code violation issues. about 70% of the properties I have sold have had some sort of issues. It's just so crazy how crappy ocwen treats their consumers, employees and business partners.
I receive email from them sometimes on properties 150+ miles away from me. They sort of black listed me back in 2007 for doing the right thing. There was one property that had had a fire in the garage, (suspected meth lab), but to get it listed the city inspector had to certifiy, along with having the fire marshall report, and a lot of other people to say it was safe. They said I was moving to slow, I told them that some of the inspections would cost, so I needed written authurization. They siad they would not send me the authurization, so I knew they were telling me I would not be reimbursed. The property finally got on the market late last year, just before Countrywide took over the VA properties. Needless to say that was a cluster $@%%@ also! I suspect we will soon be reading about them in some federal investigation!
Have done work for OCWEN in the past with no problem Took an REO Listing this year and it will be the last. With a 50% referral fee attached to it, we are fortunate the buyer walked in our door. Too much work for too little compensation. Have always been paid promptly as long as I got the paperwork right but am concerned about this last one. I too am getting the feeling that they do not want to work with regular Realtors but do not have someone licensed for Oregon yet. Almost had another one, but was dragging my feet about the commission on this one, and it was a good thing I was slow. Turns out the foreclosure had not gone through, was contacted by the owner who was really ticked off with OCWEN.
This is the second time recently that I have heard of where a foreclosure did not go through, the property was prepared for foreclosure and then the owner reappears or has caught up on their payments. I remember the one agent said they are being sued by the owner for damages (home was trashed out) for over 50K.
Ummm... You wont get any REO listings from Ocwen if you work in certain states where they now have Real Estate Brokerage companies. I received a CMA just the other day and the person on the other end of the phone (in India)promised that if I completed the CMA by that day (I still had 4 more days to complete it) that they would send me a listing. Well the I did the CMA the listing never came and I saw the property on the market for the price I suggested with Realhomes Services and Solutions. I was curious because I saw the agents email as ASHqueries@altisource.com which is Ocwen. Well after a little research i figuered out they now own their own a Real Estate company in Florida!(and a few other states like California, nevada...)I then called all of my REO listing agent friends through out the state and it turns out that none of them have received an REO listing from them since this new company came around. The only reason I was doing these BPO's and CMA's was because I wanted listings from them that never came. Well I say F*&K Ocwen, we should boycott them and see if their agents are as good as we are at pricing and sales!!
Eric
This is very true about Ocwen, as they are operating as Altisource. They send me stuff, for a BPO, but I request to know who will get the listing no answer. They do not pay well either!! $35 and $40 dollars will not cut it!
So glad to find this site! All the comments about difficulties dealing with OCWEN as agents also applies to homeowners. I fought them for 3 years. Received a "statement" of expenses and transaction dates for 2 TITLE REPORTS ($350 EACH), 6 PROPERTY VALUATION EXPENSES (5 COST $111., 1 COST $292) 6 PROPERTY INSPECTION FEES (5 COST $10, 1 COST $10.50).
I did hold off foreclosure a number of times, HOWEVER, HOW CAN THEY ALL HAVE TRANSACTION DATE OF 11/1/05???
There were a number of other problems dealing with them...like the "hardship" forebearance agreement right before they sold (and bought back) my home. First, got name of a man in Florida (who refused to give his last name... That was OK as the OMBUDSMAN had given it to me. )
Received e-mail with NO ATTACHMENT...took days to reach him again and have his re-send. But was unable to open the attachment...time was getting close. Asked him to fax it to 2 different numbers...at least 2 times...finally received one a few days before sale.
Had questions but was told that was it... accept it or lose my home. Basically, I'd be renting for 3 years and then they would go back to the ORIGINAL INTEREST RATE...With ARM, went up to 13%.
I stayed in my home 18 months after the sale. Finally was evicted April 15, 2010. The sheriff's office was very nice about it. Helped me get most valuable items out. I had a 5000 sq foot, 170 year old home with 3 rentals and 3.4 acres. Lived there all 66 yrs of my life and my great-grandfather had purchased it in 1919. Property was full of antiques and stuff.
I was called a HOARDER...however, there was no GARBAGE lying around...I had most of it organized in boxes, but LOTS OF THEM.
The realtor, who knew NOTHING about the property and lived 1 1/2 hours away, brought a "professional" moving company with her. No business cards, no name on trucks. I was told via the deputies that these were professional movers, they would move ALL my personal items from the property, they would do it ROOM BY ROOM so I could find things, they would wrap everything fragile in bubble wrap, and put in storage with bank paying the FIRST MONTH.
As the men brought out an old sofa I told them to put it on bank by the road as the next day was trash day. They refused, saying that they had to MOVE EVERYTHING TO STORAGE. I asked "EVERYTHING?" "yes".. again I asked "EVERY SCRAP OF PAPER?" and they replied "YES". and in the presence of 2 sheriff's deputies and a PA State Trooper.
One of the deputies walked through the house and noted all of the antiques. He asked the movers if they knew how to move antique furniture. The answer was "YES, WE WRAP IT." Sounds like the correct answer, doesn't it? The deputy knew the large items SHOULD be wrapped in old quilts and such.. Later, at storage area I found my great-grandfather's Chester County cherry slant-front desk wrapped with HEAVY DUTY ADHESIVE TAPE. Also scratched up and a leg broken. It was jammed up against my refrigerator which also was wrapped in the tape including going over all the photos on the frig door!
I quickly realized they men had just been picked up off the street. Name of the company is C & A PROPERTY SERVICES, 601 Cherry Street, Norristown, PA. But they seemed to have moved with no forwarding address.
All the items I had boxed in the house? They opened EVERY ONE and dumped contents into huge boxes. Like antique Christmas ornaments with a baseball thrown in. Glassware with no wrappings, handcream thrown in with photos. All boxes of photos dumped together and negatives everywhere.
Wonder where my grandmother's wedding dress is? I found the box. I insisted they bring out my grandmother's good china from her wedding in 1917...I'd wrap it myself and transport so they couldn't be accused of breaking anything. As I was telling them that I saw a Mexican who didn't know any better starting to wrap the heavy tape around a handful of saucers. I yelled at him to stop and pointed to bubble wrap. Later he brought out 4 of their HUGE boxes with BALLS OF BUBBLE WRAP with dishes in each one.
Neither he nor ANY of the other men knew to put SOMETHING...BUBBLEWRAP, PAPER, ANYTHING..between each saucer or dish. I've gone through about 75 of over 500 boxes and had to toss out sets of dishes and anitique bowls...the worst being 2 10", 11" CUT GLASS BOWLS that were wedding gifts from 1917. That particular box (all were about 20"x24"x18" tall) had just a dozen bowls and dishes in the bottom. They were wrapped in bubblewrap but with no protection between them. Also, the box was NOT LABELED FRAGILE. It was tossed into the truck and then into storage with no care.
Oh, it GETS WORSE. One day I arrived at house to see if they were there and needed into the storage units. No one was there but I saw the backdoor had been broken into house and I saw bits of decorated eggshells outside and into the kitchen. I went through the house and found bits of eggshells throughout 17 rooms..."someone" had come back over the weekend and had an egg fight!. They had taken some of the eggs from a large box that contained over 12 dozen eggs that I had decorated with my sons over the last 30 YEARS. I felt violated.
Also found container that held my mother's ashes pried open and dumped on a window sill. Then they had torn open ALL boxes and containers in the kitchen looking for anything of value... I had a bag of small jewelry boxes I planned to use for old jewelry and they had opened and separated EACH BOX, then stomped on them. Flour was all over the kitchen floor.
They found a can of old artificial snow (from 60s) in the attic and proceeded to spray 2 windows...on the bathroom window was HOUSE FROM HELL, and a FUNNY FACE (which they used as a target) on a bedroom window.
Complaints to bank, realtor, bank's attorney were ignored. Attorney who made sure I knew he was the "2nd name on the letterhead" (was that to intimidate or impress me?) said I had "too much stuff". That's beside the point...once it was stated they were to remove EVERYTHING, they were obligated to do so. Some poeple have said they didn't have to give me ANY of my belongings...and what was moved was to be up to the MOVERS.
After they had piled over 600 boxes in 17 storage units they left. Company called storage owner to say "check's in the mail". That has been since May 1st. Thank goodness he's a decent man. He's owed $1370 a month. Going to have him go to small clains to try to collect. I'll pay fees. Why can't I do it?
Because I started a lawsuit again the movers, realtor, attorney, HSBC BANK, OCWEN and CEO, and ALTISOURCE and CEO. Doing it myself and it's difficult. But they had NO RIGHT to destroy my things.
In addition, I went back into house after a month and realized that EACH ROOM was set up the same way...carpets were shoved into a corner, covered with broken glass and piles of inverted cardboard boxes on top. ALL TRASH. They movers kept saying they'd be back to take out the TRASH (including a truck load that they brought from another property and dumped it at my place...then they pocketed the money for that trash removal and would charge a SECOND TIME for same removal)
Well. I started to move away the empty boxes. Beneath them were clothes, antique books, baskets, small tables, jewelry,2 early Chester County gray crocks... I was furious... the movers had set up stuff to ROB ME.
My home has been sold, the bank had me arrested for TRESPASSING and the state police were upset for having to do it.
I was NEVER given the chance to challenge the bank as to foreclosure. But now I'll get my day in court.
Also, what's a BPO? NOT realtors?
With all the talk of possible illegal foreclosures there is going to be a HUGE surge of lawsuits. Glad I got my started 2 months ago!
Becky Lockerby...box 206, Unionville, PA 19375 484-881-2114
For those who say shouldn't have gotten mortgage I couldn't afford. ..I had a full-service travel agency which I ran from my home. Need money for my mother in nursing home and for high taxes...knew I had to get a fixed rate mortgage within 2 years...HOWEVER, I never expected the airlines to totally discontinue giving travel agencies commissions and with NO ADVANCE WARNING. I was stuck...lost my biggest source of income and couldn't get a new mortgage. Wrote to OCWEN and was laughed at...NO ONE READS THOSE LETTERS..
Would like to hear replies.
Ocwen is definately getting to be a slow payor on BPOs and CMAs and I don't see it getting better because I suspect they see agents as commodities to be abused. What exactly do they do that entitles them to these listings besides providing poor customer service from India?
Well I can not answer that question, but I know the sometimes try to load my inbox up, but I just ignore. I used to get the listings when they had the VA contract, since then nothing but very low fee offerings for BPO's.
Hi Every one,
I worked with one of big bpo broker agency company which is locataed in Chicago from last 2 years.I dealt with Ocwen mutual,Ocwen metro chicago , LSI, AVM,IAS,PAS,Mark to Market,RRReview,FAS,Clear Capital,Single Source,PCV and some other bank.
I can pullout listings,I can fill the form,uploads the photos and review the orders.I can do 25 orders per a day with 100% quality.If any one need my assistance please contact me directly.
Thanks and regards,
Ramesh Vadloori,
00919703320033.
rameshvadloori@gmail.com
Best to move on my friend. I signed up with them quite a while back and had a few trickle in over the years, but only a drop in the bucket compared to other, busier companies. Forget about them and then a few will show up in your inbox one day.
Ocwen is a crook. Increasingly they are making excuses to pay me and cancelled at least 5 BPO orders I had done for them amounting to $200 in the last month. I am thinking of suing them or at least file a complaint. I have worked with them since year 2005 and had never received an REO, only BPO's. Within these years they had outsourced all the customer service jobs to overseas India and the people I call don't understand what I was talking about. They make me wait 20 minutes one time and don't care to solve the problems that they created for me.
That is normally what you get when you outsource service to 3rd world countries and normally they don't have any pricking ideas about our neighborhood here. It is very irresponsible for Ocwen to outsource it to India. They are sacrificing quarlity over cheap labor. I wonder if their clients know about what's happening with our BPO/REO. Do they also outsource REO to India or somewhere else? OMG that's too much.
Yes I worked with them back in 2003 when they had the VA contract. The screwed that up royally!!! They now send me request for BPO's I just ignore them. Also the pay is not that great.
Kevin,
This is just my opinion, but I do not think they cancelled them, I think they are saying that so they do not have to pay! As I said just my opinion, and I am thinking they used it.
i currently have a listing from Altisource/Ocwen. I quit responding to bpo requests over a year ago, and all of a sudden a listing was assigned to me for the first time! It is pending now..and has been ok..but they have up on so many other sites, I never knew where the calls came from. I thought I would give it one shot..and so far it is ok...
Since Ramesh is not a licensee / appraiser he can not legally do BPOs. Nor can he have access to the MLS directly which would be required for a good BPO
I've read some of these comments in this thread and I have a question- Why do agents accept BPO's for $40 from Altisource/Ocwen? I do BPOs and their CMAs and I ALWAYS request the fee to be raised to $60 and sometimes $70 for BPOs, and always for at least $75 for the CMAs. Nine times out of 10 they approve BPOs at $60, and on occasion they do for $70. This indicates that they will pay more, but since folks accept less they pay it. How could it possibly be worth anyone's time to do them at $40? Don't let these big companies take advantage of you even more. I don't list properties, but it's my understanding that Altisource has already started to pay 1% commissions. To drive your car around all day and run it into the ground, buy ever increasing fuel, and spend valuable family and personal time for less than minimum wage is insulting and volunteering to be taken advantage of. To add insult to injury Altisource outsources all of the servicing of their BPOs and listings OVERSEAS! This company pays slave wages at every level and apparently we love it because we simply don't ask for a little bit more money, which they will probably give you, but you have to ask for it! Start pushing these fees up and stop cheating yourselves!
I obtained finally an account with OCWEN, in order to do the BPO's and now that I have my vendor ID, user name and pasword and suppousedly the set up of my acces to their web , I have been waiting for the e-mails alerts after a couple of months. Every morning between 6:30 AM and 7:00 PM, the Requesters place the BPO orders and I receive the alerts, but when I click on "new orders" link INMEDIATELY , I see the same message : "there is no order avaliable in the list"
I call almost everyday to the Vendors management and they assure there is nothing wrong with my account. Can somebody explain me what is the reason for such a frustrating experience?
What does the message below mean? I've been doing BPO's for Ocwen for 8 years and now a couple of my orders have been put on hold with the message below. I can't get a straight answer from Ocwen
THIS BPO/2055 HAS BEEN PLACED ON HFC IN ORDER TO ALLOW COLLATERAL INTELLIGENCE (AN ALTISOURCE CONTRACTED NATIONAL REVIEW VENDOR) TO COMPLETE A DESK REVIEW. PLEASE DO NOT CONTACT THE BPO/2055 VENDOR, FLIP THE ORDER BACK TO ARN STATUS, OR COMPLETE THIS REVIEW AS THIS IS AN INTERNAL HOLD TO FACILITATE THE REVIEW PROCESS. PLEASE REACH OUT TO THE REVIEW COORDINATORS (NIGHT SHIFT) IN THE EVENT OF ANY QUESTIONS.
You must move fast. These alerts go out to any agent signed up with ocwen in your area that servicing the same location. You have to be on the site at that time 6:30am waiting for the alert to go out or sometimes click on the new offer list before the alert go out so that you can grab them before anyone else does. Its first come first served. sounds ridiculous, but thats how it is.
Look guys Ocwen/ALtisource is going through rapid changes. Yes the payments maybe delayed due to a shortage of review analyst in US and Systems Upgradation (which also explains glitches in vendor management).
Brokers/Appraisers who have still not received payments will soon receive them as a team of 40 ARN review analyst have come on board. Altisource is the largest Subprime Mortagage Valuation Service provider so stay with us.
And dont worry the India team has been with Ocwen since the last 10 years and we know the markets. Quality of work will never go down thats a promise.
I've been doing BPO's for Altisource for years......never once had a listing. They call me and ask me to name my price to go out and do BPO's, CMA's...........AND NOW THEY ARE LISTING WITH A COMPANY THAT IS NOT EVEN IN MY MLS OR ON MY SIDE OF THE STATE.......NO MORE!
Hello,
Outsource RE BPO solely specializes in outsourcing Broker Price Opinions for real estate agents and brokerages in the US. Our expertise spans over 30+ of the top valuation platforms. We guarantee all orders in 24 hours and offer free QC support. To see how we can increase your business, please visit our website.
Regards,
http://www.OutsourceRealEstateBPO.com/
Has anyone gotten paid recently from Ocwen/Altisource for bpo's? It's been 4 months since I've gotten paid for bpo's and their response is that there's a "technical glitch." A 5 month technical glitch????? They're usually pretty quick at paying and never this late. Thanks
Wow, interesting comment, and I thank each of you. I think I will pass on this company for work.
Gladys,
did you ever had anything from them but BPO orders? Any listings at all?
Its been 8 years since I did a BPO....need to do one for a hold over tenant on an Ocwen foreclosure...does anyone have a BPO template for Ocwen or fanny/freddy they could send my way? petermedal@gmail.com many thanks in advance of your time.
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