[Guest]

crazy safeguard buys bank of america field assets. Safeguard now controls all boa work. Crazy

 

[Guest]

crazy safeguard buys bank of america field assets. Safeguard now controls all boa work. Crazy

Jinx. We posted this at the same time. You owe me a Coke.

 

[JDRM]

Is this true?

 

[Guest]

Yep came from the ceo of safeguard. Boa people in my area are terrible surprise it lasted that long

 

[Guest]

Is this true?

Yessir. Confirmed.

 

[hammerhead]

http://www.housingwire.com/news/safeguard-buys-bank-americas-field-servicing-operations

 

[JDRM]

So this is part of the "shakeup" at SG. This sucks!

 

[Guest]

so what does this mean for all the other boa servicers like south central valley and qualified etc...

 

[Guest]

so what does this mean for all the other boa servicers like south central valley and qualified etc...

It means we are all screwed.If you don't work for safeguard we will soon be out of business.

 

[Guest]

Its says they are using boa vendor network but I bet that last about 2 months.

 

[Guest]

When Safeguard lost Fannie Mae this week, my regional told me that there were a couple large accounts in the works, but couldn't elaborate. I guess that is one of them. She told me to be ready for alot of new work in the next couple of months. It's a good thing, because I just lost 43 Fannie Mae accounts on Tuesday. It definitely helped the swelling go down.

 

[Guest]

When Safeguard lost Fannie Mae this week, my regional told me that there were a couple large accounts in the works, but couldn't elaborate. I guess that is one of them. She told me to be ready for alot of new work in the next couple of months. It's a good thing, because I just lost 43 Fannie Mae accounts on Tuesday. It definitely helped the swelling go down.

Right. We lost 450 recurring.....

 

[Guest]

I'd love to know the volume of BoA vs. Fannie Mae in my area

 

[Guest]

I would say higher across the board since theres so much P&P. It out numbers REO everywhere I would assume.

 

[Guest]

BACFS does not control all the BOA work-

They were part of BOA- but BOA still subs ALOT.

.

Relax- don't panic.

And dont celebrate if you are a safeguard sub- at least not yet. Volume still LOW.

 

[Guest]

BACFS does not control all the BOA work-

They were part of BOA- but BOA still subs ALOT.

there are 11 other players on the BOA Scorecard- and BACFS

All SG did was buy an "extra slot." on the scorecard.

Smart move- but the other nationals smoked BACFS prices.

Relax- don't panic.

And dont celebrate if you are a safeguard sub- at least not yet. Volume still LOW.

Amen. Don't run with this guys. Its big for SG, not big for you. And it is much more complicated than, "now SG will controll all of B of A work". B of A is smarter than that (not much....just smarter).

 

[BPWY]

I wouldn't get too excited.


I heard last winter that MCS was making a major move and was taking over BoA.

Did it happen????????????????????????????????????????

 

[JDRM]

Anyone here currently working for SG?

 

[GTX63]

SG is absorbing the BOA system as it exists, including the staffing.
They are not going away anytime soon. Others on here may be.

 

[Guest]

The BOA system?

BACFS was a formation to by BofA to get a tax write off. It was also consistently used by them as a "check number"- keeps the other dweebs on the scorecard list hungry- and fearful of being kicked out of the party.


Relax- breathe. :thumbsup: