Fas

6655 Views 21 Replies 4 Participants Last post by damaton, Jul 25, 2012

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Discussion Starter · Jul 23, 2012

I'm curious as to what others think on what happened with Fas and Fannie Mae. Fas claims they are the one that didn't want to renew the contract because fm wanted more from the vendors without giving more money. And Fas 'took a stand'. Then I've also heard that fm was dissatisfied with Fas. What's your take?

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Discussion Starter · #2 · Jul 23, 2012

Trashoutqueen said:
I'm curious as to what others think on what happened with Fas and Fannie Mae. Fas claims they are the one that didn't want to renew the contract because fm wanted more from the vendors without giving more money. And Fas 'took a stand'. Then I've also heard that fm was dissatisfied with Fas. What's your take?

Its probably somewhere in the middle. I have had conversations with some people at FAS fairly high up, and they essentially tried to go back to the bargaining table, or they would need to fullfill the rest of their contract and then move past it. I don't know if that is a stand, but it wasn't feasable for them or their vendors financially.

FM appears to have said they didn't like some things with FAS etc.. I think its a matter of "you don't break up with me, I break up with you". FM is just a pit. There are very large problems there that go far beyond their asset management. The pride of those involved clouds what really happened on all fronts. I think FM is clearly asking too much across the board for what tey are willing to pay. Its one of the biggest complaints on this board. The cycles will just go around and around.

I learned here that everyone has good and bad things to say based on personal experience about all of these nationwides. I personally would rather gouge my eyes out with hot pokers than do buisness with Safeguard for example. But some have had better experiences than myself.

This is the key.

In my limited expereince, FM will try to leverage whatever they can to create a constant fear of their contract being "lost" by whoever has it. Agents are told to "find something" to fail on properties BSO's. Many have told us this directly. They are playing with loaded dice, and since the goal post keeps moving, the nationwides and in turn their vendors, cannot ever make them happy 100%, which I believe is by design so that they never lose negotiating high ground.

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Discussion Starter · #3 · Jul 23, 2012

I think you are right on.

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Discussion Starter · #4 · Jul 24, 2012

Still, let's say FAS is only make 30% profit after all said and done, that's still 30% of billions of dollars a year. FM was dropping tens of thousands of properties monthly. A little bit of something with volume involved, is a whole lot better than 100% of nothing. Just doesn't add up.
HUD pays AMS $2500 per new property they acquire, they pay $350 a property to have it fully trashed out and cleaned and ready to sell, and then they pay $40 every 12 days for lawns. They still make $1800 give or take a property. Even $500 a property with a couple hundred thousand properties is better than not making any at all....

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Discussion Starter · #5 · Jul 24, 2012

I`m still pissed I paid for a new camara that would date/ stamp there photos and now there is no work(recurring)

Sure glad I didn`t fall for moblie phone deal:whistling

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Discussion Starter · #6 · Jul 24, 2012

I agree SRT, some profit is better than none. I don't see how they will make it with just the crumbs they have left.

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Discussion Starter · #7 · Jul 24, 2012

Star- lucky you. I bought a droid just for the damn thing!!!

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Discussion Starter · #8 · Jul 24, 2012

Trashoutqueen said:
Star- lucky you. I bought a droid just for the damn thing!!!

I refused to get a phone and get on there plan. didn`t know if I would chose to keep working with them or not. FAS was going out of there way to find reasons not to pay on jobs!

GTX63

· #9 · Jul 24, 2012

FM is a monstrosity that needs to go away, however, Brokers or QC agents don't need to "find" something on most FAS completed orders. Field Assetts drilled a hole thru the rear end of most of the experienced contractors they had and are now only left with entry level subs who either don't know or don't care what quality work is. It isn't the first contract FM has taken from a national and it isn't the last. It is just part of their cycle.

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Discussion Starter · #10 · Jul 24, 2012

GTX63 said:
FM is a monstrosity that needs to go away, however, Brokers or QC agents don't need to "find" something on most FAS completed orders. Field Assetts drilled a hole thru the rear end of most of the experienced contractors they had and are now only left with entry level subs who either don't know or don't care what quality work is. It isn't the first contract FM has taken from a national and it isn't the last. It is just part of their cycle.

As a servicer of FAS properties let me respectfully disagree with you that they have nothing but monkeys left working for them. Perhaps in your area? Not in mine. The vast majority of California is worth their salt. Brokers have intimated to us and others that they are pressured to be harsh on their BSO in order to "get more".

We have a ton of Droids. You can go directly with Pruvan and use the technology apart from FAS not if you don't want to "waste" it. With the amount of people we have out there, we are considering doing just that.

GTX63

· #11 · Jul 24, 2012

Mr. Piece, if they are still stiring your drink for you then I say great. What we experienced with them towards the end was nothing short of fraud and theft of services. I think they were the pioneer of cutting invoices. I would suggest in your best interest that you stay as intimate with your reps as possible; carnally if you must.

thanohano44

· #12 · Jul 24, 2012

GTX63 said:
Mr. Piece, if they are still stiring your drink for you then I say great. What we experienced with them towards the end was nothing short of fraud and theft of services. I think they were the pioneer of cutting invoices. I would suggest in your best interest that you stay as intimate with your reps as possible; carnally if you must.

FAS was great for us from 2006-2010

GTX63

· #13 · Jul 24, 2012

It was tolerable for us during the same period as well.

thanohano44

· #14 · Jul 24, 2012

GTX63 said:
It was tolerable for us during the same period as well.

We did the iPhones when it first came out. 1 year later we needed to go the droids. What a joke. Pruvan works great for recurring services like recuts, initial lawns and rush bids. Anything else sucks. In my humble conservative opinion.

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Discussion Starter · #15 · Jul 24, 2012

I thought pretty highly of pruvan while working for FAS. It cut out LOTS of headaches for me at the end of the day sorting photos especially if I wasn't at the jobs it made my guys think twice about the photos they were taking and made sorting a breeze. I've been curious about what pruvan charges to use the services without FAS attached.

Splinterpicker

· #16 · Jul 24, 2012

thanohano44 said:
FAS was great for us from 2006-2010

AMEN BROTHER

:clap::w00t:

BPWY

· #17 · Jul 25, 2012

warranpiece said:
Its probably somewhere in the middle. I have had conversations with some people at FAS fairly high up, and they essentially tried to go back to the bargaining table, or they would need to fullfill the rest of their contract and then move past it. I don't know if that is a stand, but it wasn't feasable for them or their vendors financially.

FM appears to have said they didn't like some things with FAS etc.. I think its a matter of "you don't break up with me, I break up with you". FM is just a pit. There are very large problems there that go far beyond their asset management. The pride of those involved clouds what really happened on all fronts. I think FM is clearly asking too much across the board for what tey are willing to pay. Its one of the biggest complaints on this board. The cycles will just go around and around.

I learned here that everyone has good and bad things to say based on personal experience about all of these nationwides. I personally would rather gouge my eyes out with hot pokers than do buisness with Safeguard for example. But some have had better experiences than myself.

This is the key.

In my limited expereince, FM will try to leverage whatever they can to create a constant fear of their contract being "lost" by whoever has it. Agents are told to "find something" to fail on properties BSO's. Many have told us this directly. They are playing with loaded dice, and since the goal post keeps moving, the nationwides and in turn their vendors, cannot ever make them happy 100%, which I believe is by design so that they never lose negotiating high ground.

SRT-Diesel said:
HUD pays AMS $2500 per new property they acquire, they pay $350 a property to have it fully trashed out and cleaned and ready to sell, and then they pay $40 every 12 days for lawns. They still make $1800 give or take a property. Even $500 a property with a couple hundred thousand properties is better than not making any at all....

This is why I do not believe for a second that there isn't enough money on these properties for FAS and the contractor to make a living.
FAS is stupid greedy, this is why there wasn't enough money.

Start giving the brokers $2500 to get the property cleaned and maintained...... watch what happens. The quality of work will go up thats for sure.

BPWY

· #18 · Jul 25, 2012

Trashoutqueen said:
I agree SRT, some profit is better than none. I don't see how they will make it with just the crumbs they have left.

Myself and many others have no sympathy for FAS.

My experience with them and SG is that FAS is many times worse.
This is based on around 3 months of working for FAS in 09.

I've never heard or seen so many excuses on why they just weren't able to cut checks this cycle.
And stupid freaking cheap prices, along with rejecting most if not all bids.
They were a scourge.

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Discussion Starter · #19 · Jul 25, 2012

GTX63 said:
FM is a monstrosity that needs to go away, however, Brokers or QC agents don't need to "find" something on most FAS completed orders. Field Assetts drilled a hole thru the rear end of most of the experienced contractors they had and are now only left with entry level subs who either don't know or don't care what quality work is. It isn't the first contract FM has taken from a national and it isn't the last. It is just part of their cycle.

Wrong. FM took Indiana from AMS 2 years ago because the work as so crap. Jus as it will be in the new states they took over...AMS is really one of the worst if not the worst bottom feeder out there. Prime example of straight up greed. Ernie is a piece of crap.

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Discussion Starter · #20 · Jul 25, 2012

splinterpicker said:
AMEN BROTHER

:clap::w00t:

Agreed. Almost same period for us. 2007 until vendor conference last year... now we notice in Michigan that Curt is back inspecting the 50 houses we have with them and writing us up for overgrown shrubs on properties we have had for over a year. Said since we did not report it or put a bid on (they are not that bad, we are a lawn care company at heart) we gotta trim them for free. Told them to go pound sand. Everyone there is just trying to justify their job. Dales gonna clean house come Aug 2. If they don't just close down...

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