MCS Termination - REO Property Preservation Forum
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post #1 of 32 (permalink) Old 11-28-2014, 04:41 PM Thread Starter
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MCS Termination

Received an email from MCS stating that due to the reduction of work for Corelogic vendors they are terminating our contract. We knew all along where the Wells Fargo work orders were going, but apparently MCS was not aware...anyone else do the switch from Corelogic to MCS and now no longer receiving work?
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post #2 of 32 (permalink) Old 11-28-2014, 05:33 PM
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SO when the switched happened WF pulled their volume from CL / MCS to who?
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post #3 of 32 (permalink) Old 11-28-2014, 05:51 PM
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not sure but im thinking service link.......
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post #4 of 32 (permalink) Old 11-28-2014, 08:07 PM
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They knew. MCS has offices in Wells Fargo's HQ. Just weeding the herd.
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post #5 of 32 (permalink) Old 11-28-2014, 08:52 PM
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What areas are you referring to??..... Servicelink has already had WF in most states, and lost them in Mi and Wis last October, to 5 bros. WF has been spreading their work out to several different Nats lately....
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post #6 of 32 (permalink) Old 11-28-2014, 08:57 PM
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Originally Posted by Wannabe View Post
They knew. MCS has offices in Wells Fargo's HQ. Just weeding the herd.
You know this is funny, my competitor in my area does the entire state for MCS and loves working for them, and he says they pay him on time and everything. And he rarely got any charge backs from them.

I'm confused, he must be the exception. They offered the us the entire state and we turned it down, at the time we just had to much work.

He's never had anything bad to say about them. Doesn't Altisource own MCS now?
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post #7 of 32 (permalink) Old 11-28-2014, 09:01 PM
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What areas are you referring to??..... Servicelink has already had WF in most states, and lost them in Mi and Wis last October, to 5 bros. WF has been spreading their work out to several different Nats lately....
Servicelink will probably get even more of it now, and NFR to, NFR has been flooding us with WF of late.
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post #8 of 32 (permalink) Old 11-28-2014, 09:24 PM
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Servicelink will probably get even more of it now, and NFR to, NFR has been flooding us with WF of late.
Maybe this is the news we are supposed to get after the new year?.... I hope so!!!
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post #9 of 32 (permalink) Old 11-28-2014, 10:30 PM
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Mcs piece meals ALL WFHM work to other companies. Altisource does not own MCS. MCS is part of a HUGE holding Company called Concentic Holdings which is operated by the CEO of MCS. Just Google Mcs Holding Company and you can research the corporate structure.

I've been in the MCS offices at WFHM and saw the operation. Took several employees to an NCAA basketball Sweet 16 game and the scoop you hear.......

Nothing good. I see the Holding Company reducing pay even further due to the stockholders wanting even more profits while the inventory continues to decline.
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post #10 of 32 (permalink) Old 11-28-2014, 10:54 PM
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Maybe this is the news we are supposed to get after the new year?.... I hope so!!!
Could be, i think its more about operational standards than a new account even tho the rumors have been flying lately about it. Everyone i talk to at SL is being very tight lipped about it. The CE BATF for SL has tripled my bottom line, WF wants all their yards raked, all the trees trimmed, shrubs. all yr long. They've seen what happened to MCS, and are going to have to do some cleaning up, contractors and operational standards.

WF just implemented 500.00 fine on posting the wrong signs on the doors last week. Each company has their own color and contractor code on the signs, vacant postings, wint posting, tax sale posting. any and everything has to come off the visibility from front view. Only WF signs after to be seen from the front from now on, SL has been slow of late to get the message, had a conference about the signs post 2 weeks back about the WF sign policy and the had it all wrong.

Hell it has gotten so serious NFR had to put put a Webinar about it last week. WF got caught with their pats down in 2008, and their determined not let it happen again. WF is the only 2nd to the large home mortgage portfolio which is makes BOA on top, But the Government is all over BOA for the moment, the fine have been off the charts. WF is falling in with compliance with the GOV regs, BOA is not, mostly do to SG handling of the account, this is why BOA is charging back SG some much, its forcing SG to pas it on to the BOTG. Only going to get worse for SG.

Keep in mind WF and SL us the same Indian corporation to process they're work orders. If BOA doesnt do something soon theu will loses the account, part at the time, Do to the fact no one can handle the whole account at one time much like WF is only allowing, 25% of the work to go one company at the time, of course their are exceptions for that rule. NFR got over 1/2 of all the portfolio in NC and some other states.

Its been freaking crazy busy with the raking, what is it now! 2 large bags they say equals a yrd. I got some pics of the yrds were raking and it just down right crazy. averaging about anywhere from 1200.00 to 2500.00 a pop. The contractors are raking the bucks in...

I do remember Wannabe warning us:: He said something about this was going to happen earlier this yrs cuz he had family or friends working in the offices of WF.
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