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Discussion Starter · #1 ·
We do Wells Fargo work in Indiana for Corelogic and we do it for LPS in Illinois. We have done some for NFR as well.

The Wells work seems to have slowed dramatically. Is there a new player in the game?

Does anyone have any solid info?
 

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REALTORS. We dont do the P&P work for realtors besides lockchanges and remediation work BUT we are asked weekly. WFHM is moving more & more work to the realtors. Problem is finding the realtor for your area that is financially capable of paying the invoice and being reimbursed 30-60 days later. Our Realtor friends pay us every week for jobs completed THAT week.

WFHM at Hdqs in Des Moines stated several months ago that their goal is to have 80-85% of their properties serviced locally by realtors.
 

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Discussion Starter · #3 ·
REALTORS. We dont do the P&P work for realtors besides lockchanges and remediation work BUT we are asked weekly. WFHM is moving more & more work to the realtors. Problem is finding the realtor for your area that is financially capable of paying the invoice and being reimbursed 30-60 days later. Our Realtor friends pay us every week for jobs completed THAT week.

WFHM at Hdqs in Des Moines stated several months ago that their goal is to have 80-85% of their properties serviced locally by realtors.

Thanks for the heads up. I guess I need to start calling realtors.
 

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Thanks for the heads up. I guess I need to start calling realtors.
Most of these brokers if not all have their father, mother, friends, brothers, brother-in-law, son or sister - doing work for them! :sad:
 
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I do a lot of WF work state wide here in SC and i haven't seen drop of work at all,I do it for LPS and NFR,matter a fact a Well Fargo bank rep showed up on a re-conveyance job we're doing and commented on the fine work we're doing.We're rehabbing a home that was improperly conveyed.

Here's the problem with letting Realtors do the work direct,liability,liability,liability.

Realtors will never be able to convay property's back to HUD.

Maybe Conventional loans but not HUD homes.matter a fact WF just did a Audit of NFR and LPS is next.WF was forced to break their account between 3 servicer's,Government mandate.If work slowes down in some areas it more likely because of Tax Filings.Look for it to pick back up after April.
 

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Zuse... you are partially right..especially on the HUD or Government backed homes.

What you did not take into consideration is the Government is forcing the banks to stop transferring the bulk of the loans in foreclosure to HUD, Fannie, Freddie (it has been such a huge transfer of liability to the taxpayer that they should all go to prison..imo)

The Service Companies will still service the ones that do transfer/convey but those numbers will be going down drastically over the next year.
 

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The smaller intial stuff comes in at a steady dribble. The larger jobs and the rehab work comes in clusters. All thru the locals.
 

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The smaller intial stuff comes in at a steady dribble. The larger jobs and the rehab work comes in clusters. All thru the locals.
I signed up with Premier directly a little over a year ago. I used to get the WF rehab jobs thru the brokers, now the calls come directly from Premier, and the brokers call me to find out what is happening.
 

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WF here ahs started going to the Brokers...We have been asked to get a GC license so we can work with them...so we have been dilligently going to school....
 

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I havent had a debris job period from LPS in 2 weeks friday..... :cry::cry:

Good thing grass cuts are around the corner.....
 
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