This will be a One Time Chance....We have a Senator's ear - REO Property Preservation Forum
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post #1 of 26 (permalink) Old 09-19-2013, 07:16 PM Thread Starter
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This will be a One Time Chance....We have a Senator's ear

If you have an issue that is documented...
Contact me with it as Senator for Tennessee has launched an investagation into the industry...
Michigan is ready to file suit against SGP....

Time to stand up and start documenting things...

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post #2 of 26 (permalink) Old 09-19-2013, 10:18 PM
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What is in the lawsuits?

How is this going to effect vendors?

I can see sgp just passing the lawsuits on to the vendors and we vendors are the only ones going to get screwed.

Why are we pissing on a bees nest? The conctractors are the only ones that are going to get screwed.

You have a copy of this lawsuit? As a sgp vendor I really want to hear some solid evidence and I really hope your not just stoking the pot.
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post #3 of 26 (permalink) Old 09-19-2013, 10:53 PM
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It's not safeguards problem. It's these dumbass contractors that don't know what they are doing. If I see power on, yard maintained, a car in the driveway, or anything, I report as occupied regardless if they like it or not and let the realtor deal with figuring it out. And if there is personals the home owners don't get locked out, only the back lock is to be changed which is again the contractors fault if they are changing all of it.
The contractors that caused this with the Illinois AG is SCVMS.
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post #4 of 26 (permalink) Old 09-20-2013, 07:51 AM
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Great news as long as they attack the problem. These nationals all need put out of business. Legislators have a tendency to add legislation and leave the problem in place.
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post #5 of 26 (permalink) Old 09-20-2013, 02:07 PM Thread Starter
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The state of Illinois has already taken up a 50 count indictment against Safeguard. In addition there are 100's of lawsuits against them...Google Safeguard Properties/lawsuit....

The is also another 50+ count case against SGP for RICO violations...this is nothing of "stirring the pot"

As a vendor of SGP I would want to know everything going on with this company right now as it will effect your business. As I said in the OP a Senator has commenced an investigation against them....
Scuttlebutt is that SGP is already in damage control mode and attempting to rectify things by throwing sums of cash at the issues in some inane thought process that the all mighty dollar is going to fix the mess they have made over the past 7 years with their greed.

How things will effect the SGP Contractors I have no clue but myself...I would definitely be getting the ducks in a row....

http://www.cleveland.com/business/in...of_valley.html
http://www.mortgageorb.com/e107_plug...?content.14321
http://www.thedenverchannel.com/news...in-five-states
http://www.rfcexpress.com/lawsuits/r...uvall/summary/

Not to be rude but, with all the madness going on with this company I find it difficult to believe that ANY Contractor for SGP is not aware of the legal issues this company has going on right now...
This is not me or Foreclosurepedia trying to rally the troops and work them up into a frenzy...this company has some serious issues, and lets not forget the IRS and IC/employee issue.....

BTW...we are not just looking for issues with SGP...we are asking for ANY documented issue in the PP with any company. If you think the action was wrong then let's talk and start getting the information into the hands of those that have the ability to enact change...and if you feel that change is going to hurt you...you're an employee and not a business owner...

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post #6 of 26 (permalink) Old 09-20-2013, 03:14 PM
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How do we fix the industry?????

I don't see it possible unless we nationals.

I think SGP has lots of issues but I blame 90% of it on the greedy contractors. I have been a SGP vendor for I think about 6/7 years, over my time and I would say roughly 15000 work orders we have completed we have had maybe 2 issues with securing an occupied property and both of those happened in early 2009 at the peak of the boom. They both where 2nd homes for the owner and in the middle of winter and the only visited the property once a month.

In my area we have one contractor that kicks in every single door, or breaks a windows, steals stuff out of properties, and completes half assed work like you read about and hes the #1 vendor in the area. He repairs roof with drywall mud and spray paint. He is the problem in my book, when I go behind his work me and my guys would call about 30% of the houses he secures as occupied.

SGP should be on the hook for his work after all its SGP client not the local contractors. I would just hate to see SGP lose all the work. I personnel like and enjoy working for SGP I have never had an issue really with being cheated or scammed.

I must also note that I havn't completed a P&P, or REO order for SGP in about 1 year. We now only completed hazard claims/ insurance and repairs work for them.
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post #7 of 26 (permalink) Old 09-20-2013, 05:10 PM Thread Starter
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Originally Posted by wmhlc View Post
How do we fix the industry?????

I don't see it possible unless we nationals.

I think SGP has lots of issues but I blame 90% of it on the greedy contractors. I have been a SGP vendor for I think about 6/7 years, over my time and I would say roughly 15000 work orders we have completed we have had maybe 2 issues with securing an occupied property and both of those happened in early 2009 at the peak of the boom. They both where 2nd homes for the owner and in the middle of winter and the only visited the property once a month.

In my area we have one contractor that kicks in every single door, or breaks a windows, steals stuff out of properties, and completes half assed work like you read about and hes the #1 vendor in the area. He repairs roof with drywall mud and spray paint. He is the problem in my book, when I go behind his work me and my guys would call about 30% of the houses he secures as occupied.

SGP should be on the hook for his work after all its SGP client not the local contractors. I would just hate to see SGP lose all the work. I personnel like and enjoy working for SGP I have never had an issue really with being cheated or scammed.

I must also note that I havn't completed a P&P, or REO order for SGP in about 1 year. We now only completed hazard claims/ insurance and repairs work for them.
That is why you have no issues....
Our company has never been willing to get into bed with them due to their reputation...
I don't imagine that every Contractor out there has issues with SGP...
However, you know of a problem child and yet you still work along side of them cleaning their messes up...so how is that not contributing to the problem???
Sorry but SGP is scandalous...you just happen to be one of their few employees that actually knows how to deal with them. IMHO....
I can understand your concern for the company as it appears to be your graveytrain. However, I wouldn't put my head in the sand and ignore what is going on around them.
I would even be so bold as to suggest that one should consider life after SGP...they created a mess that can not be cleaned up without serious consequences....

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post #8 of 26 (permalink) Old 09-20-2013, 05:52 PM
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So what will happen in the aftermath?

So, has anyone considered what would happen IF Safeguard was put out of business, along with every other national out there? How would the void be filled? By the banks contracting directly to the mom and pop contractors doing the work? I don't think so. If Safeguard fails, MCS fails, FAS fails, you WILL throw this industry into complete collapse. But, none of the nationals will fail. Safeguard performs all needed preservation work for EVERY SINGLE ONE of the top five banks in the industry. Safeguard submits all work not only to their clients, but to HUD, Fannie, Freddie, USDA, and VA as well. Safeguard is the middle man because the banks don't have to worry about spending BILLIONS on a contractor network. I don't think anyone here, the NPPG, or anyone with an ax to grind has thought about this. BILLIONS are at stake here, and I guarantee you, Safeguard will come out ahead of this. Will there be more regulation? Yes. But they will still come out ahead.

Safeguard isn't the problem, per se. They don't kick down the doors them selves. Its the lazy order mills they sub to that are the problem. It's horrible contractors on the ground working for these lazy people. Its subbing to the craigslist crackhead that is the problem. Period. We have worked for Safeguard for 10 years, and not once have we been penalized for calling a property occupied. Have we been charged back? Yes. Is it enough for us to be concerned about? No. Do we get reopens? Yes. Does it concern us? No. We get jobs done. Pure and simple. And we do it in volume, and make more than enough to not worry about a $45 chargeback.

Before all of you pull out the stakes and pitchforks, you need to think about the consequences of your actions. The only way to beat Safeguard is to offer a solution that is better than what they have. Do any of you have a better solution to meet all of Safeguards' clients needs? That is the real question.
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post #9 of 26 (permalink) Old 09-20-2013, 06:17 PM
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So, has anyone considered what would happen IF Safeguard was put out of business, along with every other national out there? How would the void be filled? By the banks contracting directly to the mom and pop contractors doing the work? I don't think so. If Safeguard fails, MCS fails, FAS fails, you WILL throw this industry into complete collapse. But, none of the nationals will fail. Safeguard performs all needed preservation work for EVERY SINGLE ONE of the top five banks in the industry. Safeguard submits all work not only to their clients, but to HUD, Fannie, Freddie, USDA, and VA as well. Safeguard is the middle man because the banks don't have to worry about spending BILLIONS on a contractor network. I don't think anyone here, the NPPG, or anyone with an ax to grind has thought about this. BILLIONS are at stake here, and I guarantee you, Safeguard will come out ahead of this. Will there be more regulation? Yes. But they will still come out ahead.

Safeguard isn't the problem, per se. They don't kick down the doors them selves. Its the lazy order mills they sub to that are the problem. It's horrible contractors on the ground working for these lazy people. Its subbing to the craigslist crackhead that is the problem. Period. We have worked for Safeguard for 10 years, and not once have we been penalized for calling a property occupied. Have we been charged back? Yes. Is it enough for us to be concerned about? No. Do we get reopens? Yes. Does it concern us? No. We get jobs done. Pure and simple. And we do it in volume, and make more than enough to not worry about a $45 chargeback.

Before all of you pull out the stakes and pitchforks, you need to think about the consequences of your actions. The only way to beat Safeguard is to offer a solution that is better than what they have. Do any of you have a better solution to meet all of Safeguards' clients needs? That is the real question.
Once reporting a property occupied comes the hell of "broker communication"...
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post #10 of 26 (permalink) Old 09-20-2013, 06:20 PM
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Once reporting a property occupied comes the hell of "broker communication"...
Those REO guys have to worry about that. The only time I talk to realtors is on presale properties, and that usually mean we won't perform a lock change anyway.
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