Posted by Stacy (AZ) on September 14, 2001 at 12:48:00:
Actually, no, all the outsourcing companies I found will do various levels (based on client requirements) of REO activity on SFRs. They’ll do drive-bys, all the way up to full interior/exterior inspections, evictions, loss mitigations, workout plans on pre-foreclosures and REOs, and even evictions. Then they’ll market and sell.
I’m just curious about whether they are a waste of time for investors looking for bargains. I guess no one knows, or I’d have received a reply by now.
REO Outsourcing Companies? - Posted by Stacy (AZ)
Posted by Stacy (AZ) on September 13, 2001 at 12:16:11:
I’ve found some information regarding companies who manage lender’s REOs. I’ve included an ad for one of them, below. I wasn’t aware that these companies existed, but now that I know, I can see how they could be very useful to large lenders.
But, my question is this: for any of you that already know about these companies, are they a source of good REO leads, or is it too late by the time they get the properties to manage? Will they accept low offers in an effort to liquidate their assigned inventories, or do I need to forget about them because of the added middle-man expenses involved?
Thanks in advance.
Prudential Outsourcing Group
The pinnacle of asset management companies, we
are a full service organization for all your REO
needs. We provide full management nationwide for
any and all of your non-performing assets from
foreclosure sale to closing. We have contracted
national title companies, escrow companies and
contractors to cover the nation. We have an
extensive database of only the best REO Brokers
in all areas and follow each and every asset
closely as if it were our own. No area is too
difficult to service and no asset unmarketable.
Reporting is provided in an instant for all
aspects of the management process from immediate
occupancy status, cash for keys, title issues,
evictions, marketing, contract negotiation to
closing while confirming proceeds are in your
account, on an individual or broad basis. We have
the ability to reimburse vendors directly, handle
accounts payable, and submit monthly reporting to
relieve you of this time consuming process. Our
mission is to liquidate your assets in an
efficient manner reducing marketing times while
providing the maximum net return. This allows you
to focus on what is needed, to maintain and
exceed your company?s measured standards of
service. Our staff comes from all areas of the
REO Industry with over 60 years of combined
service experience. Put your trust in the rock
and contact us for all your asset management
needs. References available upon request.
Service these areas… Whole State Selected Cities
Dist. of Columbia
Re: REO Outsourcing Companies? - Posted by dewCO
Posted by dewCO on September 14, 2001 at 11:39:08:
I think this is for really large/commercial type properties, they take time to sell and need management in between(?)!