I believe what is going on in my area is, a VRM vendor signed on for the flat rate, took the original payout and disappeared or otherwise, wised the hell up. With an unhappy broker, I was maybe hoping to exploit that angle, if possible, maybe pick up a few wints, or repairs in the process.
I had a good season, and could really just take the winter off if I wanted, but a few work orders a week wouldn't hurt.
VA - Military - Veterans - No one needs to hear about the exploitation of the VA & Our Veterans on Veterans Day. Safeguard has flat rates also now so its becoming more common.
QUIZ - With a VA loan - its paid / backed by who? Loans are backed by - A - Fannie - B - Freddie - C - FHA - Or D - The VA
My personal preference would be not to take additional money out of the pockets of our veterans by exploiting realtors of VA homes.
Now if a house has gone through a proper P&P cycle it is not at all out of the realm of reason that one can make a reasonable amount of money off of the VRM rates. A properly completed P&P cycle will leave you on the REO side with the following - maintaining the grass, cleaning the property, keeping the property in ready to show condition. If its not to that point have you heard of reconveyance? Additionally if you were to read VRMCO's payment agreement you would know there is always additional funds on work which cannot be completed per allowable.
There is no reason an REO should last more than 30-45 days unless it's not in show condition.
Ohnojim - I really hope you are a Veteran, But you might just be one of those people who likes to flap their jaw when they have no idea what they are talking about. - Only commenting due to your comment about exploiting the VA on VETERANS DAY.
Now if you are a Veteran - You have every right to exploit the VA & the realtors due to the fact that you belong to the VA and money within the VA belongs to our Veterans. If you are not a Veteran I believe you owe a formal apoligy to all of our veterans just for the thought of exploiting the VA on Veterans Day - Exploiting the VA - VA Realtors - VRM - is exploiting our Veterans.
To any Veteran's reading Thank You For Your Service
VA PROPERTY MANAGEMENT INFORMATION
Veterans Benefits Administration
Department of Veterans Affairs
July 5, 2012
Washington, DC 20420
NEW VA PROPERTY MANAGEMENT AND SERVICING CONTRACTOR
. This circular provides details for
transferring VA property management (REO)
and portfolio loan servicing
contracts for the VA home loan guaranty program to Vendor
Resource Management (VRM).