Wells Fargo Work - REO Property Preservation Forum
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 11 (permalink) Old 01-31-2013, 06:08 PM Thread Starter
Low quality low cost
 
Craigslist Hack's Avatar
 
Join Date: Jun 2012
Location: Every city
Posts: 2,337
Thanks: 695
Thanked 1,687 Times in 846 Posts
Wells Fargo Work

We do Wells Fargo work in Indiana for Corelogic and we do it for LPS in Illinois. We have done some for NFR as well.

The Wells work seems to have slowed dramatically. Is there a new player in the game?

Does anyone have any solid info?
Craigslist Hack is offline  
The Following User Says Thank You to Craigslist Hack For This Useful Post:
GTX63 (02-01-2013)
Sponsored Links
Advertisement
 
post #2 of 11 (permalink) Old 01-31-2013, 06:18 PM
How I wanna be a PP Pro
 
Wannabe's Avatar
 
Join Date: Oct 2012
Location: USA
Posts: 1,103
Thanks: 232
Thanked 1,277 Times in 562 Posts
REALTORS. We dont do the P&P work for realtors besides lockchanges and remediation work BUT we are asked weekly. WFHM is moving more & more work to the realtors. Problem is finding the realtor for your area that is financially capable of paying the invoice and being reimbursed 30-60 days later. Our Realtor friends pay us every week for jobs completed THAT week.

WFHM at Hdqs in Des Moines stated several months ago that their goal is to have 80-85% of their properties serviced locally by realtors.
Wannabe is offline  
The Following User Says Thank You to Wannabe For This Useful Post:
BPWY (02-01-2013)
post #3 of 11 (permalink) Old 01-31-2013, 06:20 PM Thread Starter
Low quality low cost
 
Craigslist Hack's Avatar
 
Join Date: Jun 2012
Location: Every city
Posts: 2,337
Thanks: 695
Thanked 1,687 Times in 846 Posts
Quote:
Originally Posted by Wannabe View Post
REALTORS. We dont do the P&P work for realtors besides lockchanges and remediation work BUT we are asked weekly. WFHM is moving more & more work to the realtors. Problem is finding the realtor for your area that is financially capable of paying the invoice and being reimbursed 30-60 days later. Our Realtor friends pay us every week for jobs completed THAT week.

WFHM at Hdqs in Des Moines stated several months ago that their goal is to have 80-85% of their properties serviced locally by realtors.

Thanks for the heads up. I guess I need to start calling realtors.
Craigslist Hack is offline  
Sponsored Links
Advertisement
 
post #4 of 11 (permalink) Old 01-31-2013, 06:31 PM
Senior Member
 
REO2Rentals's Avatar
 
Join Date: Sep 2012
Location: Michigan:)
Posts: 236
Thanks: 147
Thanked 30 Times in 23 Posts
Quote:
Originally Posted by Doberman Properties View Post
Thanks for the heads up. I guess I need to start calling realtors.
Most of these brokers if not all have their father, mother, friends, brothers, brother-in-law, son or sister - doing work for them!
REO2Rentals is offline  
The Following User Says Thank You to REO2Rentals For This Useful Post:
BPWY (02-01-2013)
post #5 of 11 (permalink) Old 01-31-2013, 07:08 PM
Senior Member
 
Zuse's Avatar
 
Join Date: Nov 2012
Location: SOUTH/SOUTH EAST/ COASTAL OUTER BANKS
Posts: 688
Thanks: 1
Thanked 470 Times in 244 Posts
I do a lot of WF work state wide here in SC and i haven't seen drop of work at all,I do it for LPS and NFR,matter a fact a Well Fargo bank rep showed up on a re-conveyance job we're doing and commented on the fine work we're doing.We're rehabbing a home that was improperly conveyed.

Here's the problem with letting Realtors do the work direct,liability,liability,liability.

Realtors will never be able to convay property's back to HUD.

Maybe Conventional loans but not HUD homes.matter a fact WF just did a Audit of NFR and LPS is next.WF was forced to break their account between 3 servicer's,Government mandate.If work slowes down in some areas it more likely because of Tax Filings.Look for it to pick back up after April.
Zuse is offline  
post #6 of 11 (permalink) Old 01-31-2013, 10:08 PM
How I wanna be a PP Pro
 
Wannabe's Avatar
 
Join Date: Oct 2012
Location: USA
Posts: 1,103
Thanks: 232
Thanked 1,277 Times in 562 Posts
Zuse... you are partially right..especially on the HUD or Government backed homes.

What you did not take into consideration is the Government is forcing the banks to stop transferring the bulk of the loans in foreclosure to HUD, Fannie, Freddie (it has been such a huge transfer of liability to the taxpayer that they should all go to prison..imo)

The Service Companies will still service the ones that do transfer/convey but those numbers will be going down drastically over the next year.
Wannabe is offline  
post #7 of 11 (permalink) Old 02-01-2013, 04:42 AM
Super Moderator
 
GTX63's Avatar
 
Join Date: Apr 2012
Location: Your House Soon...Soon
Posts: 3,186
Thanks: 676
Thanked 2,249 Times in 1,094 Posts
The smaller intial stuff comes in at a steady dribble. The larger jobs and the rehab work comes in clusters. All thru the locals.
GTX63 is offline  
post #8 of 11 (permalink) Old 02-01-2013, 06:17 AM
Super Moderator
 
PropPresPro's Avatar
 
Join Date: Apr 2012
Location: Big Sky Country
Posts: 1,208
Thanks: 423
Thanked 929 Times in 465 Posts
Quote:
Originally Posted by GTX63 View Post
The smaller intial stuff comes in at a steady dribble. The larger jobs and the rehab work comes in clusters. All thru the locals.
I signed up with Premier directly a little over a year ago. I used to get the WF rehab jobs thru the brokers, now the calls come directly from Premier, and the brokers call me to find out what is happening.

Iíve already told you more than I know.
PropPresPro is offline  
post #9 of 11 (permalink) Old 02-01-2013, 08:32 AM
Business Consultant
 
Cleanupman's Avatar
 
Join Date: Nov 2012
Location: Silver Springs, Nevada
Posts: 1,380
Thanks: 322
Thanked 564 Times in 339 Posts
WF here ahs started going to the Brokers...We have been asked to get a GC license so we can work with them...so we have been dilligently going to school....

Aladay LLC
Property Preservation
New Business Consultant
Custom Glass&Wood
Cleanupman is offline  
post #10 of 11 (permalink) Old 02-01-2013, 11:12 AM
Super Moderator
 
GTX63's Avatar
 
Join Date: Apr 2012
Location: Your House Soon...Soon
Posts: 3,186
Thanks: 676
Thanked 2,249 Times in 1,094 Posts
Yes, we get work from PAS as well, but I prefer to remain as a one time vendor with everyone.
GTX63 is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the REO Property Preservation Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome