MY REO experience dates back many years. I am fortunate to have many REO contacts at various institutions throughout the country. This list is designed for real estate agents looking to get REO listings. None of these REO departments deal directly with buyers, they will typically refer you to a local agent handling the property.
ATTENTION! We receive A LOT of phone calls about how to get into the REO business. It’s difficult and tough to break in. I don’t have any problem sharing some of my experience and helping others but please use THIS SECTION of the REO forum to post your questions. I should be able to respond within 24 hours. Thank you very much!
Here is a list I have put together in no particular order.
- http://www.REOTrans.com – new name is Equator, https://www.equator.com/index.cfm?
Consider paying the additional fee to add your zip codes and improve your profile, you will get assignments from this company. Don’t be afraid to take the rural zip codes, less desirable areas because that is where you will find more REO business and REO company’s having a more difficult time finding quality REO agents.
- http://www.Goodmandean.com – Have received several requests, it’s free to sign up.
REO Network – Directory to advertise your REO services
- http://www.REOnetwork.com – Worth signing up for the free account, not sure if I would pay for the additional features. Don’t have a lot of experience with them.
- http://www.AtlasREO.com – You can sign up on the website. They seem to have Fannie Mae assets all over the country and always seem to be looking for quality agents.
Financial Asset Services
A few new companies to add on the list, may not be new but thought I would add them.
Hope this helps and please post if you have any additional questions!
Hey Carlos, great site!
Thanks for the REO lists..this is what i want to be doing, BPO’s leading to REO’s..
so are you saying just send in a request to these companies and wait for a reply?What should i expect
to be paid? Any more info is appreciated…
I would complete the online applications, some REO outsources, departments will have you email your submission package in. I would try to follow up with everyone once a week. Anything you can do to get your foot in the door will help.
As far as the BPO’s, we have been paid $0 on some BPO’s. Most will pay $50-75 and a few have paid as much as $125-150. You wont make a living doing BPO’s but it’s great experience and you may be able to get a REO assignment or two.
The thing I would stay away from is the companies offering a lot of song and dance for a fee to buy their REO program. I don’t think it is necessary to pay a fee. There are plenty of forum’s / real estate agents out there like this one that will offer some decent advice for free.
I have to tell you, the best relationships that Carlos has for getting REO property go back 15-20+ years. He also worked on the other side as a asset manager and VP of credit / loss mitigation. Those are the key relationships.
Please let us know if you have any additional questions, we will be happy to help.
SunTrust Mortgage, Inc website claims that all REO is listed with local real estate agents. Below is a link to their REO practices.
First Niagra Bank REO:
The First Niagra website states that REO listings are not currently available but they do list contact information.
Key Bank REO:
No Key Bank REO information is available at this time.
HomeSales.gov also offers properties offered for sale by the government.
Regions Bank Properties
http://realestate.regions.com/servlet/O … Search.jsp
Hope this helps!