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Discussion Starter · #1 ·
I have had approved invoices not getting paid on yard cuts then do a dewint. 12 days check is hand. When the Realtor looks on the portal these clowns say PAID on all invoices.:no:

UNBELIEVABLE

Anyone else having a similar experience with them ??
 
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Yuppers. The realtor for us is saying they don't show paid and just keeps resubmitting duplicate every week. We got 2 checks this week but are still 90 out on some. Our Realtor said they are going thru internal changes again. Taking properties and reassigning them saying they are to "far" from their office.
 
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Not having that problem with them "yet". Receiving check in the mail in 10 days-2weeks, although it used to be 7-10 days. Grass cuts/re-cuts, re-hab work, misc repairs. I heard they cut out 50-60% of the Brokers giving all the properties to the remaing 40+% and making some internal changes which has slowed things down as far as payments. One of the Brokers I work with complained and found out some of the "newbies" handling approvals for payment have been dropping the ball.
All in all, THE BEST CLIENT I'VE WORKED WITH IN THE LAST 2 YEARS
 

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danny1217 said:
Not having that problem with them "yet". Receiving check in the mail in 10 days-2weeks, although it used to be 7-10 days. Grass cuts/re-cuts, re-hab work, misc repairs. I heard they cut out 50-60% of the Brokers giving all the properties to the remaing 40+% and making some internal changes which has slowed things down as far as payments. One of the Brokers I work with complained and found out some of the "newbies" handling approvals for payment have been dropping the ball.
All in all, THE BEST CLIENT I'VE WORKED WITH IN THE LAST 2 YEARS
Loved doing work for them. The broker we worked with was doing some shady ****. He lost the ability to list their properties.
 
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As I stated in previous posts about PAS, I'll ride this train till it runs out of track. One of the brokers I work with seems to get the majority of properties in my area from them. The other Brokers, not so much. I'm not on the "Repair Dept's" approved vendor list, still waiting to move up the list. Long story short, had a partner, parted ways in January, had to change company name and re-file everything, but still getting all the work that they let the Broker get bids on. If they have the repair dept get the bids then my chances of getting the job are diminshed greatly. I still submit a bid to the broker that he submits to the repair dept and sometimes I get the work via "agent referal". Just changed the locks on a house yesterday,(4000sq ft) 2+acres of land needs alot of outside grounds sprucing up, around 4k of work that I'll probably get next week but the big ticket work (50k ish), (int/ext painting,carpet,re-finish hardwood,etc) will be 50/50 at best on me getting it.
 
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Cruz @ ANDERCO said:
Going down?

they've been owned by FAS for over a year or so. PAS used to be Wells Fargo's BACFS
That's odd. The last check I received from PAS still had Wells Fargo's name on it. Not just drawn from a Wells bank, Wells Fargo was the name on the check.
 

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Discussion Starter · #10 ·
Cruz @ ANDERCO said:
Going down?

they've been owned by FAS for over a year or so. PAS used to be Wells Fargo's BACFS
where did you hear this or what proof do you have ?? I still submit bids and they get approved with WAY BETTER than FAS pricing. Without some documentation of the purchase / merger I don't see it in the operations, and they pay within 12 days. FAS minimum 30 days out
 
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splinterpicker said:
where did you hear this or what proof do you have ?? I still submit bids and they get approved with WAY BETTER than FAS pricing. Without some documentation of the purchase / merger I don't see it in the operations, and they pay within 12 days. FAS minimum 30 days out
I was actually a 21 day vendor with FAS for the last 2 years or so. They overnighted me a check every tuesday for work that was completed during the week of 21 days back. Now of course we only have 3 houses with them any more...
 

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Discussion Starter · #12 ·
tenec said:
I was actually a 21 day vendor with FAS for the last 2 years or so. They overnighted me a check every tuesday for work that was completed during the week of 21 days back. Now of course we only have 3 houses with them any more...
Makes me wonder if with the Sg purchase of BOA property management if FAS is REALLY screwed. I am afraid I dont see it anyother way. Why would SG let FAS have a the work ??
A cardboard house on a scateboard is going to be my new RV. I'm outta here
 

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splinterpicker said:
Makes me wonder if with the Sg purchase of BOA property management if FAS is REALLY screwed. I am afraid I dont see it anyother way. Why would SG let FAS have a the work ??
A cardboard house on a scateboard is going to be my new RV. I'm outta here






SG should call up FAS and tell them " we hear you're a little slow over there and struggling a wee bit. We're prepared to make you an industry standard offer to buy you out."


And the proceed to offer them FAS style pay for the entire thing. :laughing: :laughing: :laughing: :laughing:
 

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Discussion Starter · #14 ·
BPWY said:
SG should call up FAS and tell them " we hear you're a little slow over there and struggling a wee bit. We're prepared to make you an industry standard offer to buy you out."


And the proceed to offer them FAS style pay for the entire thing. :laughing: :laughing: :laughing: :laughing:
We live in interesting times
I think Dale M got out at the right time and let someone else purchase a chrome coated sinking ship
 
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PropPresPro said:
That's odd. The last check I received from PAS still had Wells Fargo's name on it. Not just drawn from a Wells bank, Wells Fargo was the name on the check.
Not 100% sure, but I believe it's LPS not FAS that has an association with Wells Fargo/PAS now. Back in February one of the Brokers I work with told me. I contacted LPS to see about signing up but they require that damn E&O insurance so I passed.
All the checks I receive are Wells Fargo "Mortgage Services"
 

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danny1217 said:
Not 100% sure, but I believe it's LPS not FAS that has an association with Wells Fargo/PAS now. Back in February one of the Brokers I work with told me. I contacted LPS to see about signing up but they require that damn E&O insurance so I passed.
All the checks I receive are Wells Fargo "Mortgage Services"
95% of my work orders from LPS are wells fargo poperties, since chase properties are no longer being serviced, and I personally would get the E&O if that would get you in bed with LPS, I think they are great to work for! It is not that expensive, I pay 85$ monthly for GL and E&O, although it will be going up im sure once they audit me. :thumbup:
 
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JDRM,

E&O at $85.00/month? I'm sure we eould love to know the name of your carrier. Minimum premium with all the carriers that offer Property Preservation E&O is in the $2500 range for up to $40,000 in receipts.
 

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FremontREO said:
JDRM,

E&O at $85.00/month? I'm sure we eould love to know the name of your carrier. Minimum premium with all the carriers that offer Property Preservation E&O is in the $2500 range for up to $40,000 in receipts.
Here was my quote from last November, specifically for property preservation, . Each $ column is for $1k/$2.5k/$5k/$7.5k deductibles. It does note in policy that mold remediation is excluded. I went with another policy, don't have that on hand, but want to say it was around the same pricing. This is for 6 digit gross.

$250,000/$250,000 $757 $718 $700 $681
$250,000/$500,000 $963 $914 $890 $867
$500,000/$500,000 $1,100 $1,045 $1,018 $990
$500,000/$1,000,000 $1,307 $1,241 $1,208 $1,176
$1,000,000/$1,000,000 $1,375 $1,307 $1,272 $1,238
$1,000,000/$2,000,000 $1,650 $1,568 $1,527 $1,485
$1,000,000/$3,000,000 $1,788 $1,698 $1,653 $1,608
$2,000,000/$2,000,000 $1,993 $1,894 $1,845 $1,794

Edit: Mt Vernon is carrier.
 

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FremontREO said:
JDRM,

E&O at $85.00/month? I'm sure we eould love to know the name of your carrier. Minimum premium with all the carriers that offer Property Preservation E&O is in the $2500 range for up to $40,000 in receipts.
I will pull my quote, it has been a while. I use york jersey.
 
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