What did I get myself into? - REO Property Preservation Forum
 
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post #1 of 2 (permalink) Old 10-06-2018, 10:18 AM Thread Starter
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Red face What did I get myself into?

I am a brand new user, so if I am sharing my experience incorrectly please point it out. I have been working as a vendor for a well-know fairly reputable national morgage field services company for about a year and a half. I do have a few direct relationships with real estate agents/asset managers. Although I have 25 years of experience in the financial services industry and my husband has been a 30 year veteran of residential construction, I self taught myself everything that I presently know regarding the clients service level agreements, FHA and HUD guidelines and payment structures, budgets, various types of loans such as non-GSE and what all of that means to me as a vendor when bidding for services.

I am seeking to learn & understand as much as I can, as I have found that both my credibility and knowledge of the 'game' has earned my business a slightly better reputation as a reliable, quality vendor than what some other vendors have (because I have been told directly). We mainly do initial services, winterizations, & repairs. I do not perform 'trash outs'/debris services over 10 cyds. for the Nationals as it is cost prohibitive for me to do so.

The mortgage field services industry has such a bad/negative reputation because of several 'horror' stories it makes me second guess myself often. What the heck was I thinking?

I have a ton of improvement items that would help these Nationals in both make working with the Nationals & vendors who they depend on to service their clients a 'much' improved experience.

1.) It's no wonder why new articles may state that some vendors are unscrupulous and do not perform quality work...we are treated like second class citizens, talked to & treated poorly and often in condescending tones. How about relationship building, being treated as equals, etc.
2.) the representatives that are issuing the work orders are quite often 'new' to the job & instrustry, Little to zero knowledge (for example: the difference between a ball valve & a gate valve). They just follow there script and tell you to GET IT DONE or else....

I firmly believe that this Nationals and Vendors who support them should both make a concerted effort to improve upon the working relationships as 'professionals.' I am now off my soap box. Anyone out there have similar or BETTER EXPERIENCES?
Thanks,
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post #2 of 2 (permalink) Old 10-06-2018, 01:25 PM
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Quote:
Originally Posted by WintzKing View Post
I am a brand new user, so if I am sharing my experience incorrectly please point it out. I have been working as a vendor for a well-know fairly reputable national morgage field services company for about a year and a half. I do have a few direct relationships with real estate agents/asset managers. Although I have 25 years of experience in the financial services industry and my husband has been a 30 year veteran of residential construction, I self taught myself everything that I presently know regarding the clients service level agreements, FHA and HUD guidelines and payment structures, budgets, various types of loans such as non-GSE and what all of that means to me as a vendor when bidding for services.

I am seeking to learn & understand as much as I can, as I have found that both my credibility and knowledge of the 'game' has earned my business a slightly better reputation as a reliable, quality vendor than what some other vendors have (because I have been told directly). We mainly do initial services, winterizations, & repairs. I do not perform 'trash outs'/debris services over 10 cyds. for the Nationals as it is cost prohibitive for me to do so.

The mortgage field services industry has such a bad/negative reputation because of several 'horror' stories it makes me second guess myself often. What the heck was I thinking?

I have a ton of improvement items that would help these Nationals in both make working with the Nationals & vendors who they depend on to service their clients a 'much' improved experience.

1.) It's no wonder why new articles may state that some vendors are unscrupulous and do not perform quality work...we are treated like second class citizens, talked to & treated poorly and often in condescending tones. How about relationship building, being treated as equals, etc.
2.) the representatives that are issuing the work orders are quite often 'new' to the job & instrustry, Little to zero knowledge (for example: the difference between a ball valve & a gate valve). They just follow there script and tell you to GET IT DONE or else....

I firmly believe that this Nationals and Vendors who support them should both make a concerted effort to improve upon the working relationships as 'professionals.' I am now off my soap box. Anyone out there have similar or BETTER EXPERIENCES?
Thanks,
Yep - That all sounds about right to me.
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