What is going on??? - REO Property Preservation Forum
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post #1 of 18 (permalink) Old 02-08-2013, 07:05 AM Thread Starter
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What is going on???

We have been very slow over the past 2 weeks, slowest in a year.. Is there something going on that anyone knows of ??? Specifically with LPS..?
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post #2 of 18 (permalink) Old 02-08-2013, 08:05 AM
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scuttlebutt is they have lost Chase and are now having some serious problems....

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post #3 of 18 (permalink) Old 02-08-2013, 11:20 AM
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We have been very slow over the past 2 weeks, slowest in a year.. Is there something going on that anyone knows of ??? Specifically with LPS..?
Yes, same here in So Cal. Fannie seems to be chugging along but our broker direct work has slowed a lot lately. Our brokers haven't rec'd new properties either. Aside from the discomfort of being slow, I don't worry so much unless our brokers are busy and we're not. Volume from Nationals has never been an indicator for me since we've had enormous volume while others complain of being slow. I've also been on the other side of it where I'm trying to figure out who I've pissed off. For the record I'm rarely able to make any sense of it.
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post #4 of 18 (permalink) Old 02-10-2013, 10:35 AM
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I am holding on to a prediction ( unsubstantiated by any hard data) that repos are going to go to HUD.

FAS has been building steam in their HUD contract awarding and are making changes to the contractors insurance that makes the contractors insurance the MAIN FIRST insurance to be Liable for ANY REPAIRS made and also want a clause that states you cant go after them for reimbursement from their insurance. These clauses are BUllSHAAAT. They are removing themselfs from ALL liability. This would hold them not liable when a property is not vacant yhet you are told to do it or be deactivated. TIME TO BAIL.
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post #5 of 18 (permalink) Old 02-21-2013, 06:50 PM
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Anybody else seeing it pick up? it sure isn't around here. Been doing some bid work but have not been to a new property in 3 weeks.
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post #6 of 18 (permalink) Old 02-21-2013, 07:01 PM
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have rolled only 3 houses since 1/1/13 slow HA molasses in Vermont in the middle of winter moves faster. TAlked to a realtor who said reos are down 87% on hte oother hand some of the agents in his office are BUSY doing BPO's so go figure. I also talked to the local SG rep and he said he ALWAYS has at least 1 order a day. SO I say hold on and Scrimp and save we are in for a dryspell.
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post #7 of 18 (permalink) Old 02-22-2013, 04:45 AM
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Use your down time and work on your plans for expanding and/or diversifying.
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post #8 of 18 (permalink) Old 02-22-2013, 06:10 AM
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I believe it's cylical... happens every year around this time.
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post #9 of 18 (permalink) Old 02-22-2013, 07:04 AM
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I have been wondering why so slow also. Wondering if it was just slow or if we finally [email protected]@ed somebody off. Well going to use the down time to study for mold certification.
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post #10 of 18 (permalink) Old 02-22-2013, 07:50 AM
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Some of it is cyclical, but it isn't going to continue to return to previous levels each time.
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