Last Updated Jan 2018
Updated List of REO Departments, looking for a list of REO departments? Also known as Real Estate Owned. If you’re looking for a list of contacts to get REO listings or BPO assignments here is a great list to start with.
REO List (Real Estate Owned) Companies & Departments (See list below)
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!
Looking for a BPO form? HERE is a FREE BPO Form for you to download and use.
A WORD OF CAUTION – Be careful of paying up front fees to companies promising to give you REO & BPO assignments. It’s likely a waste of money!
REO List (Real Estate Owned) Companies & Departments in no particular order.
REO Trans DEAD website
http://www.REOTrans.com – Website now forward to www.Equator.com
https://www.equator.com – I use to pay for the zip codes but if you’re not in an area with REO’s you’re likely wasting your money. OLD COMMENTS – 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.
Atlas REO – CLOSED 2017
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.
Elam REO – WEBSITE IS DEAD
http://www.reoworld.com – CLOSED 12-31-2013
https://www.bnymellon.com REO department is not listed on website any more. No other updates.
Financial Asset Services
Integrated Assets – DEAD website
Default Servicing – DEAD website
Wells Fargo – Great but really difficult to get approved
Hope this helps and please post if you have any additional questions!
RE: REO List (Real Estate Owned) Companies & Departments
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!
List of REO (Real Estate Owned) Companies & Departments