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Hi everyone, I'm new here although I don't feel like it because I've been a long time reader but I finally have a question I'm hoping someone can answer. I'm wanting to know if US Bank contracts with one national or multiple. I have been working for a national doing mainly US Bank properties for years now but I was just contacted by another national who now has US Bank and needs contractors.
Is US Bank switching or is this common?
Any insight would be appreciated.
 
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I've bid US Bank branches for several different GC's

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I am sure they contract with several. Most of the larger banking organizations are smart enought to not put all their eggs in one basket so to speak. Which national are you specifically asking about?
 
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I've been doing US Bank for 5 brothers but was contacted by AMS saying they were going to be getting thousands of US Bank properties in OH.
 

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Ohiopp said:
Hi everyone, I'm new here although I don't feel like it because I've been a long time reader but I finally have a question I'm hoping someone can answer. I'm wanting to know if US Bank contracts with one national or multiple. I have been working for a national doing mainly US Bank properties for years now but I was just contacted by another national who now has US Bank and needs contractors.
Is US Bank switching or is this common?
Any insight would be appreciated.
I got that call as well. I was shocked considering 5 brothers has people working inside US bank branches. US Bank must have figured out how screwed up 5 Brothers is.

Did you notice that the pricing was significantly lower with the national looking for help? The pricing they offered me was about what I pay my help.
 
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Yes I did. It's hard enough to make a living now. That's why I was worried about US Bank switching. If that was to happen, we would be forced to call it quits. I could do flat rates if they were in the median rage but certainly not when they are at the bottom.
 
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Doberman Prop said:
I got that call as well. I was shocked considering 5 brothers has people working inside US bank branches. US Bank must have figured out how screwed up 5 Brothers is.

Did you notice that the pricing was significantly lower with the national looking for help? The pricing they offered me was about what I pay my help.
I guess this why I`m seeing a big slow down with 5 Brothers are my work with them is us bank:sad:

5 brother is a pain to deal with(office ) but there pay is pretty good.
 
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STARBABY said:
I guess this why I`m seeing a big slow down with 5 Brothers are my work with them is us bank:sad:

5 brother is a pain to deal with(office ) but there pay is pretty good.
The nationwides are making their money, but truth be told the real crooks here are the banks. Many times their flat fees to the nationwides along with the requirements they set, don't allow much room for real responsible payouts. The banks continue to try to improve their portfolio by jacking the cost of foreclosign down. (see Fannie Mae). They pay the nationwides, fees we probably wouldn't be able to accept if they went directly with us.

I could be wrong of course. There are many more experienced people here than me I am sure.
 
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warranpiece said:
The nationwides are making their money, but truth be told the real crooks here are the banks. Many times their flat fees to the nationwides along with the requirements they set, don't allow much room for real responsible payouts. The banks continue to try to improve their portfolio by jacking the cost of foreclosign down. (see Fannie Mae). They pay the nationwides, fees we probably wouldn't be able to accept if they went directly with us.

I could be wrong of course. There are many more experienced people here than me I am sure.
I believe it is the nationals, banks just get several bids and choose the lowest, so you have to be competetive but not anything like what the nationals are paying.
 
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I don't think it's the banks that don't want to pay. If that was the case then you would see the same thing working directly with realtors.
 
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SWOH REO said:
I don't think it's the banks that don't want to pay. If that was the case then you would see the same thing working directly with realtors.
Exactly, the business model of being in the middle (like national companies and esp regional) requires that they either charge over market to the banks and/or pay less than market rates to the workers. Just think of all the people they have to pay to keep a company like FAS going.
 

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It is not the banks that have both arms sweeping in money from the middle of the table, and is isn't you either.
 
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monumentinc said:
I believe it is the nationals, banks just get several bids and choose the lowest, so you have to be competetive but not anything like what the nationals are paying.
I can respect that, but when we are talking about a huge organization such as B of A, Fannie, or even Chase, their loss mitigation is a huge part of their expence sheet. Fannie is a terrible organization, and they drive the nationals to accept their contracts by making them dependant on the volume, and then continuing to require more and pay less. So The nationals are very much to blame, when they are being shadey. But the banks would have to have entire departments dedicated to property preservation, which would be a large expence in its own rite.

I don't know. Greed ruins everything, but I think its starting at the top.
 

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STARBABY said:
I guess this why I`m seeing a big slow down with 5 Brothers are my work with them is us bank:sad:

5 brother is a pain to deal with(office ) but there pay is pretty good.
We have done some work for them in Owensboro and Henderson area. Everytime it's too much paperwork. Honestly there are better clients out there.
 
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Doberman Prop said:
We have done some work for them in Owensboro and Henderson area. Everytime it's too much paperwork. Honestly there are better clients out there.
like who?for 5 brothers until now was my biggest money maker.In the last two years it has started to go down hill, grass cuts for cheap, reduced bid aprovals. Have been seeing properties I have being given to other contractors and asking me to give a second bid on trashing out property that I had already bid on. Haven`t gotten any of any approvals on second bids. but properties were trashed out.
 
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