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post #1 of 15 (permalink) Old 07-16-2012, 04:22 PM Thread Starter
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Hello

Realized I never introduced myself.

PP company in buisness for 6 years. Mid size, basically reliant on the nationwides up until recently when we have decided to try to make a splash directly with some large sub-servicers.

Same complaints as everyone else, but I try to look at the bigger picture, and realize that everything is a result of something else. For example, I think the great Satan in the industry isn't neccesarily the nationwide companies with their vendor networks. Many of them provide many jobs, and handle themselves fairly responsibly witht he one off issues. Rather its a GSE like Fannie Mae which is a mess from the top down, driving prices so low, and requirements once companies have expanded to handle their volume they are subject to them. Then in turn they have to remain economically viable, and pass on that mess to the vendors. I blame FNMA more for the downfall of this industry that any particular nationwide.

California is primarily where we do buisness, and I can no longer compete with illegal labor and buisness practices of my competators, the unethical reality of the brokers and agents out here, and the race to the bottom with long time clients.

Looking for ideas before I open up a burger stand instead.

Hello everyone.
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post #2 of 15 (permalink) Old 07-17-2012, 12:03 AM
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I'd opt for the burger stand if it was me! Just make certain to import the beef from good ol' Iowa!


...and BTW you make some very realistic points in your into.
post #3 of 15 (permalink) Old 07-17-2012, 04:44 AM
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George W blew the whistle on Fannie and Freddie many years ago.

A handful of years before the housing market collapsed with the help of Barney Frank and crew
via Fannie Mae.

So yeah if you follow the history leading up to the housing collapse its easy to blame Fannie from the get go.
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post #4 of 15 (permalink) Old 07-17-2012, 07:10 AM
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I think we all can relate to your frustration. I nearly got drove out of the market in FL by a competitor. One who is has since plead guilty to federal fraud charges. He was re-time stamping photos for routine inspections he was not completing (among other things). It taught me that even with my efficiency and years in business, its best to diversify!! I hope you find the information here as helpful (and sometimes just a good laugh) as I have. Welcome!!!
post #5 of 15 (permalink) Old 07-17-2012, 07:34 AM
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Originally Posted by AAS
I think we all can relate to your frustration. I nearly got drove out of the market in FL by a competitor. One who is has since plead guilty to federal fraud charges. He was re-time stamping photos for routine inspections he was not completing (among other things). It taught me that even with my efficiency and years in business, its best to diversify!! I hope you find the information here as helpful (and sometimes just a good laugh) as I have. Welcome!!!
isn`t that what all the routine inspector(just kidding!) I mean most inspection only between $6 and $8,it cost over a $100 to fill my diesel up. This is one reasons I do not do inspection. I use to do them for IMS a few years back when they paid $25, but they reduce there price and I stoopped doing them.
post #6 of 15 (permalink) Old 07-17-2012, 07:43 AM
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isn`t that what all the routine inspector(just kidding!) I mean most inspection only between $6 and $8,it cost over a $100 to fill my diesel up. This is one reasons I do not do inspection. I use to do them for IMS a few years back when they paid $25, but they reduce there price and I stopped doing them.
Exactly. I think the inspection price was in the $6 range. They called my brother in FL (I am now in SC) asking for the same price when it hit the fan and he just laughed. If its too good to be true, it generally is!!!

The owner will be facing up to 20 years in federal prison (probably will make a deal for much less) but I'd rather be broke and free than Tiny Tina's girlfriend lol I doubt it will shed any light on the way that the banks/nationals treat subcontractors (i.e. pricing, holding checks etc). In fact I think it just makes us look greedy
post #7 of 15 (permalink) Old 07-17-2012, 11:17 AM
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Quote:
Originally Posted by STARBABY

isn`t that what all the routine inspector(just kidding!) I mean most inspection only between $6 and $8,it cost over a $100 to fill my diesel up. This is one reasons I do not do inspection. I use to do them for IMS a few years back when they paid $25, but they reduce there price and I stoopped doing them.
Same here. IMS used to be great.
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post #8 of 15 (permalink) Old 07-17-2012, 11:46 AM
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Same here. IMS used to be great.
haven`t anything for them in a couple of years. I even use to do perservation work for them,but nothing now.
post #9 of 15 (permalink) Old 07-17-2012, 04:33 PM
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Burgers are universal. Foreclosures will come and go but everyone needs a good cheeseburger.
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post #10 of 15 (permalink) Old 07-18-2012, 05:23 PM
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Burgers are universal. Foreclosures will come and go but everyone needs a good cheeseburger.
I see the burger idea getting traction. But wait! There is fiece competition int he grass fed uber-burger here in southern california.

Yeah for now, this pimp and ho fest known as property preservation is all I have going. I'm just tired of being the ho.
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