Foreclosure in Sacramento>Question Details

John, Real Estate Pro in Sacramento, CA

how do i start getting reo listings? is there a list of lenders that offers this?

Asked by John, Sacramento, CA Wed Oct 3, 2007

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Answers

67
Some links below lead directly to the lenders REO Department while other link to third party websites that provide REO services for the lender.
Countrywide REO:
http://www.countrywide.com/purchase/f_reo.asp
Bank of America REO:
http://bankofamerica.reo.com/search/
HSBC REO:
http://www.banking.us.hsbc.com/

IndyMac Bank REO:
http://apps.indymacbank.com/individuals/realestate/search.asp
Ocwen Financial REO:
http://www.ocwen.com/reo/home.cfm
JP Morgan Chase Bank REO:
http://mortgage.chase.com/pages/other/co_properties_landing.jsp
M&T Bank REO:
http://services.mandtbank.com/personal/bank_owned_prop.cfm
Wells Fargo REO:
https://www.pasreo.com/reo/
Washington Mutual REO (WAMU):
http://www.wamuproperties.com
American Home Mortgage REO:
They aren't taking mortgage applications anymore but they are selling real estate, go figure. ;)
http://www.ahmhomes.com
Wachovia REO:
http://reo.wachovia.com/
Washington Mutual REO:
I could not locate any information about their REO.
Deutsche Bank REO:
No information is available online.
SunTrust REO:
SunTrust Mortgage, Inc website claims that all REO is listed with local real estate agents. Below is a link to their REO practices.
http://www.suntrustmortgage.com/reo.asp
First Niagra Bank REO:
The First Niagra website states that REO listings are not currently available but they do list contact information.
http://www.fnfg.com/personal_banking/mortgages/real_estate_o…
Key Bank REO:
No Key Bank REO information is availabe at this time.
Compass Bank REO:
https://www.compassbank.com/appforms/properties/index.jsp
Fannie Mae REO:
http://www.mortgagecontent.net/reoSearchApplication/fanniemae/
Freddie Mac REO:
http://www.homesteps.com/hm01_1featuresearch.htm
HUD REO:
http://www.hud.gov/homes/index.cfm
HomeSales.gov also offers properties offered for sale by the government.
Coldwell Banker REO Division
Coldwell Banker REO Division
Regions Bank Properties
http://realestate.regions.com/servlet/Ore/ForeclosedProperty…
Citibank REO
http://www.citimortgage.com/Mortgage/Oreo/SearchListing.do
SBA Properties
http://app1.sba.gov/pfsales/dsp_search.html
FDIC Real Estate Owned
http://www4.fdic.gov/DRRORE/
Reo Prep.com: (management&direct)
http://www.reoprep.com
Sallie Mae Financial Services Properties
http://www.grpcapital.com/properties/index.html
BB&T REO (Branch Bank and Trust)
http://www.bbt.com/applications/specialassets/search.asp
Beal Bank Commercial REO
http://www.bealbank.com/Content.aspx?ID=13
GRP Financial Services Properties
http://www.grpcapital.com/properties/index.php
Fifth Third Bank REO:
No information is available online.
First Charter REO:
No information is available online.
People's Bank REO
http://www.peoples.com/im/cda/multi_elements/0,,1355,00.html
15 votes Thank Flag Link Mon May 18, 2009
Most of those links are bad. Here's a current list:

http://www.repofinder.com/reofinder

If you want to search local banks/ credit unions you can go to:

http://www.repofinder.com.
Flag Mon Dec 17, 2012
I purchased a list from http://www.bestreolist.com. This list is very organized and detailed. If you are going to pay for a list, this is probably the best one I have seen so far.
7 votes Thank Flag Link Wed Apr 13, 2011
the best way to go is to register on management companies like:RES.NET
IASREO.COM
REOTRANS.COM
USRES.COM
they send you BPO and they start giving you listings
7 votes Thank Flag Link Thu Aug 6, 2009
and how is that working for you? I have signed up at these sites and many more, I have alot of advanced training and have never received a call from any of they with the exception of when they want money. What has been your experience?
Flag Fri Apr 26, 2013
I've said this over and over in previous posts.... The F-word is for the novice or average frustrated investor. What makes people think that putting an offer on a foreclosed house is going to get them the best price? You can count the number of TV ads promoting a system that teaches how to buy foreclosures.... That makes 50 other people dropping offers at the same time, at a price that was already "market".... That's just crazy talk. You want a deal, ok I can understand that but you are not going to find it with a foreclosure without one of two things 1. cash and personal connection with a REO manager or 2. a overpriced offer that you beat 15 other people for.

It's easier to knock on a door of a house that needs repair and say "my wife and I are looking for a home in this area and yours looks cute from the outside". Do you know anyone selling in this area? A hand written note works well too. My closure rate is almost 70% on the notes.... And you get the best deals with no competition.
5 votes Thank Flag Link Thu Oct 4, 2007
The best way is to register with all banks, some banks are not taking anymore agents but they will keep your name on the waiting list.
3 votes Thank Flag Link Sat Oct 24, 2009
Most bank owned properties are listed through REO companies that then contract with Realtors. I started working at getting registered with REO companies early this year. And then the BPOs started! I completed over 50 BPOs in the last few months. The good news is that all my hard work has started to pay off.

So for this year I've listed 3 REO properties and I have 5 more that 3 different REO companies are indicating they will ask me to bring on the market in the next few weeks. We (meaning "I")have to get the properties re-keyed, utilities turned on and some cleanup taken care of first.

It's not a list of lenders but check out http://www.learntolistREO.com for a list of REO/BPO companies.

Good luck!
3 votes Thank Flag Link Thu Nov 6, 2008
Hi, John. An agent in my office is getting a lot of foreclosure listings from lenders that he has done business with over the past few years. It appears that he is be rewarded for all the business he gave them - that's my guess!
Web Reference: http://www.DotChance.com
3 votes Thank Flag Link Wed Oct 3, 2007
BEST ANSWER - There is a big list of these links at http://www.repofinder.com/reofinder or if you want to search local banks/ credit unions you can go to http://www.repofinder.com.
Flag Mon Dec 17, 2012
SIX 6! YEARS OLD!!!!

Com' on man!!!!!
2 votes Thank Flag Link Thu Jun 13, 2013
Has anyone created a newer list lately?

Some links below lead directly to the lenders REO Department while other link to third party websites that provide REO services for the lender.
Countrywide REO:
http://www.countrywide.com/purchase/f_reo.asp
Bank of America REO:
http://bankofamerica.reo.com/search/
HSBC REO:
http://www.banking.us.hsbc.com/

IndyMac Bank REO:
http://apps.indymacbank.com/individuals/realestate/search.asp
Ocwen Financial REO:
http://www.ocwen.com/reo/home.cfm
JP Morgan Chase Bank REO:
http://mortgage.chase.com/pages/other/co_properties_landing.jsp
M&T Bank REO:
http://services.mandtbank.com/personal/bank_owned_prop.cfm
Wells Fargo REO:
https://www.pasreo.com/reo/
Washington Mutual REO (WAMU):
http://www.wamuproperties.com
American Home Mortgage REO:
They aren't taking mortgage applications anymore but they are selling real estate, go figure. ;)
http://www.ahmhomes.com
Wachovia REO:
http://reo.wachovia.com/
Washington Mutual REO:
I could not locate any information about their REO.
Deutsche Bank REO:
No information is available online.
SunTrust REO:
SunTrust Mortgage, Inc website claims that all REO is listed with local real estate agents. Below is a link to their REO practices.
http://www.suntrustmortgage.com/reo.asp
First Niagra Bank REO:
The First Niagra website states that REO listings are not currently available but they do list contact information.
http://www.fnfg.com/personal_banking/mortgages/real_estate_o…
Key Bank REO:
No Key Bank REO information is availabe at this time.
Compass Bank REO:
https://www.compassbank.com/appforms/properties/index.jsp
Fannie Mae REO:
http://www.mortgagecontent.net/reoSearchApplication/fanniemae/
Freddie Mac REO:
http://www.homesteps.com/hm01_1featuresearch.htm
HUD REO:
http://www.hud.gov/homes/index.cfm
HomeSales.gov also offers properties offered for sale by the government.
Coldwell Banker REO Division
Coldwell Banker REO Division
Regions Bank Properties
http://realestate.regions.com/servlet/Ore/ForeclosedProperty…
Citibank REO
http://www.citimortgage.com/Mortgage/Oreo/SearchListing.do
SBA Properties
http://app1.sba.gov/pfsales/dsp_search.html
FDIC Real Estate Owned
http://www4.fdic.gov/DRRORE/
Reo Prep.com: (management&direct)
http://www.reoprep.com
Sallie Mae Financial Services Properties
http://www.grpcapital.com/properties/index.html
BB&T REO (Branch Bank and Trust)
http://www.bbt.com/applications/specialassets/search.asp
Beal Bank Commercial REO
http://www.bealbank.com/Content.aspx?ID=13
GRP Financial Services Properties
http://www.grpcapital.com/properties/index.php
Fifth Third Bank REO:
No information is available online.
First Charter REO:
No information is available online.
People's Bank REO
http://www.peoples.com/im/cda/multi_elements/0,,1355,00.html

Mon May 18 2009, 18:06
Helpful(7) Link to this answer Report
2 votes Thank Flag Link Tue May 4, 2010
Another great portal is Res.Net. It's for REO's, Short Sales and BPO's. Keep in mind that even if a lot of these companies are not accepting new agents there are some who are. Even if your first listing with them isn't an "REO" it's still a listing and you get your foot in the door.
2 votes Thank Flag Link Mon May 3, 2010
OHHHH Amy, I have been a Realtor for 31 years and have always shared my knowledge because so many shared with me. Professionals share knowledge so the profession benefits. I will always share what I know with no reqrets. It 's about treating others as you would want to be treated.
2 votes Thank Flag Link Sat Mar 27, 2010
Hi John - It takes a very long time to break into the REO Biz. I did quite a bit of it for a while, but don't do as much anymore. You have to build relationships and really pay your dues to get your foot in the door. Thousands of Broker Price Opinions to prove your worth, etc...
Web Reference: http://www.cooperjacobs.com
2 votes Thank Flag Link Thu Jan 7, 2010
Check into becoming a Prudential agent. They've just signed a huge deal with SAM which will open up numerous opportunities for agents to work the REO network.
2 votes Thank Flag Link Wed Aug 5, 2009
Your profiile describes you as a Real Estate Pro - Are you an agent seeking to list? Or an investor seeking to buy? If you are an agent you can subscribe to Metrolist and search specifically for REO's - If you are an investor you can contact any of the Sacramento agents who can get you these lists of REO listings.

If you are an agent and you are asking us how can you become a listing agent for banks. I have to tell you, they like to use agents that have a lot of REO listing experience already.
2 votes Thank Flag Link Wed Oct 3, 2007
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Hi John. I am also in the Sacramento area. I can give you more information about what I know but I would prefer if you'd contact me via e-mail. I can tell you that there's no magic bullet answer. It's a lot of work and some luck is involved too. Please e-mail me through the website link below if you'd like to know more.
Web Reference: http://www.go2kw.com
2 votes Thank Flag Link Wed Oct 3, 2007
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
Contact
http://www.AgentLinkus.com has a lengthy list of REO/BPO Signups. I apply about once quarterly to each company and see where it leads. It has worked nicely for my company.
1 vote Thank Flag Link Tue May 15, 2012
Subscribe to Realty Trac .
Web Reference: http://www.georgecahill.com
1 vote Thank Flag Link Sun Jan 31, 2010
One place to go is Realty Trac. They have a fairly complete list of foreclosed properties at all stages of the process and who the property owners (lenders) are, as well as some contact information. They also seem to update on a regular basis.
1 vote Thank Flag Link Fri Nov 6, 2009
I had the very same question. All the answers here are great. I also found a couching program which is providing resources, weeking training/coaching, etc. It's helping me to make the right contacts and know what to say in the process. See the web reference link I've included with my post. And have a great day! Louann.
1 vote Thank Flag Link Mon Oct 26, 2009
All Banks have a list of who to get in contact with,just go to their web site you will find all the information.
0 votes Thank Flag Link Wed Feb 13, 2013
Looking for a reliable Virtual Assistant for a lower cost?
Email me at reliableva2012@hotmail
0 votes Thank Flag Link Tue Feb 12, 2013
Paying for REO vendor lists typically don't get you any further that what you can find in interweb forums and on Bing for free. Then apply to those vendors and follow up. Many are full and have a waiting list but as with any industry there are new companies popping up and looking for brokers for assistance. Warning: There are at least 2 companies cold calling brokers saying they have listings and asking you to pay an fee to enter their network first - do not do this! Some credible companies do ask for free BPO's in return for potential listings but I have been burned by them too. Most will pay for BPO's if you don't have the listing with them.
0 votes Thank Flag Link Mon Dec 17, 2012
BEST ANSWER - There is a big list of these links at http://www.repofinder.com/reofinder or if you want to search local banks/ credit unions you can go to http://www.repofinder.com.
Web Reference: http://www.repofinder.com
0 votes Thank Flag Link Mon Dec 17, 2012
For local banks and credit unions go to http://repofinder.com.

For regional or nationwide banks go to http://repofinder.com/reofinder or http://thebigreo.com.
Web Reference: http://www.repofinder.com
0 votes Thank Flag Link Thu Dec 13, 2012
i own a junk removal biz in ct an would like to do reo trash outs .how do we start
0 votes Thank Flag Link Fri Nov 9, 2012
You need to get signed up with national compaines such as, Field asset services, Safeguard, Cyprexx etc.....
Flag Fri Nov 9, 2012
Sign up online with banks.
First call the Reo department in the banks we want to get listing. Most of them will ask you to sign up online. Make sure to have E&O, they will ask you.
0 votes Thank Flag Link Mon Oct 8, 2012
It takes enough of your time getting the bpo's + the pictures together. Let me take care of the rest. I have done the data entry, adjustments, and picture uploads for 10,000+ bpo's. I was a real estate assistant for a very large REO/BPO specialist and he has now retired leaving me plenty of time to work with someone else (or even a couple of folks). With all due respect, I can probably do the bpo forms better than you due to sheer experience. I am not a company, I'm not an outsourced Indian who will kill your relationships, - I'm an American who has lived in NY, NJ, FL, CA, and PA and I'm great at bpos! Email me at: idoyourbpos@hotmail and I'd be more than happy to answer your questions and see if it can be a good fit. Your privacy is important to me and so is your reputation. I'm lightening quick and I'm very good at what I do. Let me be your assistant!
0 votes Thank Flag Link Wed Sep 5, 2012
This is 5!!!! years old!

There are no more REO Listings!
0 votes Thank Flag Link Tue Jul 24, 2012
How do I get reo listings in Macon, Georgia and surrounding counties. We have errors and omissions insurance.
0 votes Thank Flag Link Tue Jul 24, 2012
I purchased a List of National REO Asset Management Companies list from http://estator.co/store/store.aspx this list has approximate 100 contacts of REO companies I followed the instructions of how to contact and submit my information and I did.
After almost 7 months I got response from two companies that requested additional information and they start to assign Assets
Broker in Downey California -the most competitive are for Real Estate Agents
Web Reference: http://estator.co/store/store.aspx
0 votes Thank Flag Link Tue May 15, 2012
This question was asked back in 2007, tell me why 5 years later people are answering it??? Yes, the answer is to spam
0 votes Thank Flag Link Tue May 8, 2012
It looks like we have some spammers here.
0 votes Thank Flag Link Tue May 8, 2012
its not easy, try starting with bpos first. From my experience bpos paved the way for reo listings.

here's a free list http://www.bpocompanieslist.com
0 votes Thank Flag Link Mon May 7, 2012
How do I become an Approved Selling Broker? I work with Vets....
0 votes Thank Flag Link Tue May 1, 2012
Wow, excellent information. Thanks !
Another good resource is at http://www.RegisterREO.com
Web Reference: http://www.registerreo.com
0 votes Thank Flag Link Thu Sep 15, 2011
I purchased a List of National REO Asset Management Companies list from http://estator.co/store/store.aspx this list has approximate 100 contacts of REO companies I followed the instructions of how to contact and submit my information and I did.
After almost 7 months I got response from two companies that requested additional information and they start to assign Assets
Broker in Downey California -the most competitive are for Real Estate Agents
0 votes Thank Flag Link Wed Aug 17, 2011
The absolute best list is at http://www.fivestarreolist.com, its inexpensive and worth every penny. The list I got there was up to date and had all banks and asset companies information.
0 votes Thank Flag Link Thu May 26, 2011
Reolister.com has a list of 200 banks and asset managers that is updated daily. They will also submit the registrations for you.
Web Reference: http://www.reolister.com
0 votes Thank Flag Link Fri Jul 2, 2010
There are many places to get information on REO/BPO/BOV contacts....
I have some 2000+REO asset managers in my personal file... but take a look at http://www.reoenterprise.com
0 votes Thank Flag Link Fri May 21, 2010
We don't offer help in getting REO listings, other than training, but we do help agents with short sale assignments and resources to get short sale listings GALORE:
0 votes Thank Flag Link Wed Apr 28, 2010
It could take some time, but it all depends on your area and how many agents there are. I started completing bpo's for several AM companies which eventually gave me reo listings.

here's a free list of bpo companies http://www.bpocompanieslist.com

good luck
0 votes Thank Flag Link Thu Apr 15, 2010
Good sources below. I also started keeping track of the banks listed in the local MLS so I knew who was active in my area. I signed up on Equator, and several others below. I called my loan officers, they sent me direct contacts for the banks they work at to sign up.
0 votes Thank Flag Link Tue Apr 13, 2010
RECORD FORECLOSURE as of 4/12/10

Everybody gear up!

The nation's foreclosure inventories reached record highs. February's foreclosure rate of 3.31 percent represented a 51.1 percent year-over-year increase. The percentage of new problem loans also remains at a five-year high. The total number of non-current first-lien mortgages and REO properties is now more than 7.9 million loans. Furthermore, the percentage of new problem loans is also at its highest level in five years. More than 1.1 million loans that were current at the beginning of January 2010 were already at least 30 days delinquent or in foreclosure by February 2010 month-end.

7.9 million Americans are not paying their mortgages.

Disclose this to your BUYERS!

http://www.cnbc.com/id/36422316
0 votes Thank Flag Link Tue Apr 13, 2010
Cheers to Debbie! Lord knows if we all kept quite nobody would grow. BTW - sharing is the core of Trulia.

Cathy Bureau, MBA, REALTOR, Green, SFR
Broker-Owner
GREEN Home Realty
(210) 378-2489
Cbureau@greenhomerealtyco.com
0 votes Thank Flag Link Thu Apr 1, 2010
Agents don't play all your cards on one table. We all pay too much for your free advise!
0 votes Thank Flag Link Fri Mar 26, 2010
I'm taking a short sale certification class today and I just came across a tip:

Join an REO broker networking group. Here is the website they recommended:http://www.nrba.com/

They said it could take up to 2 years so its not as easy as it sounds. Good luck!

Cathy Bureau, MBA, REALTOR, Green
Broker-Owner
GREEN Home Realty
(210) 378-2489
Cbureau@greenhomerealtyco.com
0 votes Thank Flag Link Wed Mar 24, 2010
I've worked with a few short sales etc and most lenders will choose realtors from BPO agents. You may want to check out http://www.equator.com Good luck!

Cathy Bureau, MBA, REALTOR, Green
Broker-Owner
GREEN Home Realty
(210) 378-2489
Cbureau@greenhomerealtyco.com
0 votes Thank Flag Link Wed Mar 24, 2010
There are many lists out there for sale. reolister.com will give you the list for free. They will also sign you up with the banks and asset managers
0 votes Thank Flag Link Wed Mar 10, 2010
Hi John

If you wish to list, you may need to contact individual banks.

To show and cobroker REO listings, try http://hud1.towerauction.net/CA.htm for a list of HUD-owned homes. I can help with the financing as you'll find that many lenders don't finance HUD REOs or are inexperienced.

Let's keep in touch!

Tom
0 votes Thank Flag Link Mon Feb 22, 2010
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