[tenec]

Things don't seem to bright for them down in Austin right now.

http://www.costar.com/News/Article/...from-its-Largest-REO-Services-Contract/139540

 

[BPWY]

Their evil practices and hourly screwing over the contractors finally got them in trouble.



And this comment, is entirely laughable as every one on the ground can tell you.......FAS SUCKED A REALLY BIG ONE!!!!!!!!!!!!!!!! when it came to any kind of quality workmanship.

Since winning this assignment back in 2008, our team consistently exceeded quality and service standards

 

[GTX63]

The industry seems to now only have room for the new and naive.

 

[P3+]

This statement says a LOT when you read between the lines.
" However, as market conditions changed and foreclosure volumes declined, the scope of the services expected increased without commensurate compensation."

The "demand more for the same pay" mentality is the sole reason that this industry has declined so drastically over the last 8 years. Having sat in many a meeting with some of the FNMA sales and QC upper brass, I can attest that they are going to continue to demand more for that lowball contract. What was once a biddable has now become an industry standard. Forcing contractors margins to shrink. What's worse are these relatively new players that are continually undercutting each other on their package rate bid proposals. It will come to a point that they've cut out every ounce of edible meat from the bone and there will be nothing left but scraps and fat to ingest.
As GT so cleverly pointed out, only the New and Naive are the ones that think they have hit gold.

 

[BPWY]

I saw that too P3 and while the gooberment or other contract awarders cut the pricing down then FAS took that marginal pricing and cut it to the point the contractors were not even breaking even.
FAS did it to themselves and I have 0 sympathy for them!

Their greed did them in because instead of standing firm with SG, AMS etc who ever got the contracts and saying look we can't hire quality contractors to do the work you want done, they allowed the upper brass to push them lower and lower in an effort to gain market share.
And look, it back fired on them.

 

[FremontREO]

IMO the business model is not workable when using independent contractors. AMS will do fine when their employee in-house crews are doing ALL the work since costs can be more controlled. P3 can verify my thinking right or wrong.

The government contracts want "employees on the books" especially in an election year to make unemployment numbers look better. P&P contractors really are not business owners anylonger but an extension of the service companies.

For the last 4+ years it has been a "race to the bottom" and now we are seeing some winners.

JMO

 

[Splinterpicker]

just got a new pricing matrix for BOA hazards WHAT A JOKE 4 semi tires for 19 dollars on a rim REALLY ?? :drink: You all in Austin are STONED or just plain STUPID. NOT happening !! They are now going to be a BID item for ME . IT costs me 15 to get rid of 1 GET A CLUE.:wallbash:

 

[STARBABY]

just got a new pricing matrix for BOA hazards WHAT A JOKE 4 semi tires for 19 dollars on a rim REALLY ?? :drink: You all in Austin are STONED or just plain STUPID. NOT happening !! They are now going to be a BID item for ME . IT costs me 15 to get rid of 1 GET A CLUE.:wallbash:

I haven`t done a trashout for them in months due to I can`t make the numbers work. I just decline them saying I`m busy. (so true, doing a trash out for a profit!!!!)

I got the BOA Hazard Policy e-mail today also. Just now read it. It is a joke, I most the time don`t even read them anymore!:whistling