Is It Wells Fargo or your National? - REO Property Preservation Forum
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post #1 of 19 (permalink) Old 02-06-2016, 02:25 PM Thread Starter
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Is It Wells Fargo or your National?

We get work on Chase, Wells Fargo and others from our client. By far the most problems come on WF properties. Charge backs for any and all trivial excuses. Invented photo disputes, pricing disputes even on bid approvals saying price does not meet Cost Estimator. And on FHA work the claims that they cannot get reimbursement from HUD are disproportionately higher on WF compared to Chase. Anyone else experience more problems with WF??
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post #2 of 19 (permalink) Old 02-06-2016, 07:48 PM
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We get work on Chase, Wells Fargo and others from our client. By far the most problems come on WF properties. Charge backs for any and all trivial excuses. Invented photo disputes, pricing disputes even on bid approvals saying price does not meet Cost Estimator. And on FHA work the claims that they cannot get reimbursement from HUD are disproportionately higher on WF compared to Chase. Anyone else experience more problems with WF??
Typical of them and consistent with "industry standards"
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post #3 of 19 (permalink) Old 02-07-2016, 08:24 AM
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You must use a c.e with them or your invoice will be adjusted. Bottom line with WF. Also, some nats like to play games.

I have never had a problem getting paid when submitting a c.e with accurate info, on wells or chase.
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post #4 of 19 (permalink) Old 02-08-2016, 08:56 AM
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You must use a c.e with them or your invoice will be adjusted. Bottom line with WF. Also, some nats like to play games.

I have never had a problem getting paid when submitting a c.e with accurate info, on wells or chase.
Who has the time to sit around and do CE's all day? That's my biggest issue. Many of the jobs we do take longer to process than they do to perform the actual work.
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post #5 of 19 (permalink) Old 02-08-2016, 09:24 AM
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Who has the time to sit around and do CE's all day? That's my biggest issue. Many of the jobs we do take longer to process than they do to perform the actual work.
This whole CE thing is totally outrageous ! Who the heck are these CE developers that are all knowing and dictate what revenue my company can generate ? Considering the cost of the CE it appears to me its just another revenue stream. On top of that the cube farm demands this is fair payment according to industry standards. By sheer definition "cost ESTIMATOR"
means an estimate, period, take it or leave it, either accept my bid or move on to the next poor sucker !
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post #6 of 19 (permalink) Old 02-08-2016, 09:53 AM
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Who has the time to sit around and do CE's all day? That's my biggest issue. Many of the jobs we do take longer to process than they do to perform the actual work.
My office staff, that is what they do. We go out and do the work, bids, etc, they update and do c.e's the next day.
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post #7 of 19 (permalink) Old 02-08-2016, 10:11 AM Thread Starter
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Craigslist Hack yes I agree sometimes the completion does take longer than the actual work. Especially when you deal with completion denials, then bid denials and then invoice denials. And does anyone know for certain that the Cost Estimator pricing we deal with takes the Nationals discount into consideration. It seems to most of the time when we run one ourselves to verify our clients' CE but not always.
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post #8 of 19 (permalink) Old 02-08-2016, 10:32 AM
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Craigslist Hack yes I agree sometimes the completion does take longer than the actual work. Especially when you deal with completion denials, then bid denials and then invoice denials. And does anyone know for certain that the Cost Estimator pricing we deal with takes the Nationals discount into consideration. It seems to most of the time when we run one ourselves to verify our clients' CE but not always.
I know, for a fact, that the C.E does not take into consideration, and is not accounting for the client discount.
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post #9 of 19 (permalink) Old 02-08-2016, 10:41 AM
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Craigslist Hack yes I agree sometimes the completion does take longer than the actual work. Especially when you deal with completion denials, then bid denials and then invoice denials. And does anyone know for certain that the Cost Estimator pricing we deal with takes the Nationals discount into consideration. It seems to most of the time when we run one ourselves to verify our clients' CE but not always.
I just bumped an old thread with a repairbase rep for further clarification.
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post #10 of 19 (permalink) Old 02-08-2016, 03:23 PM
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My office staff, that is what they do. We go out and do the work, bids, etc, they update and do c.e's the next day.

My office staff doesn't have time and I'm not adding more people because then I would have to add more contractors then more territory and pretty soon I would be back where I was 3 years ago.

Nope they can just wait. Their scorecard is their problem. I don't care one bit about some imaginary due date.
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