Has iREO or REO PRO CORP contacted you to do business?

I was also contacted and looking for feedback. I got the same sales pitch. They called me 4 times today.

Yes, these guys are a total scam. Google “BankerREO” and “FootprintsRE.” Same people.

Thank you so much for all of your comments. Today I was contacted by Kevin Kelly (could be a made up name) “asset manager” of REO, giving me info on 2 properties and kept pressing for $400 fee. I told him that I need to do due diligence first before signing up and giving him the money. After reading all of the above, I have an answer for him when he calls me back tomorrow. As Nancy said above, thank you for the internet!

REO ProCorp is aggressively soliciting $400 subscription fees and have nothing to provide you for this except empty words about bogus properties. One home mentioned to me was a property I closed three years ago. It is not in foreclosure and not an REO as stated. I know the owner. The sales person is slick and promises a lot but the details reveal dishonesty. Do not send them money. There are always those who prey on others and use greed as bait to take your money and run. Here is his email:
“Below is a summary of what we discussed. Let me know what your legal department would like us to transfer into a contract and I will have my Director draw something up. I will follow up in a little bit with new assignments in that area.

Reo Pro Corporation is an asset management firm. We work directly with banks/lenders. The majority of our inventory comes from the ICBA (Independent Community Bankers of America). The first two properties we have the lender has required an Exterior BPO. If you are the agent that completes this BPO you will be the listing agent for that property. Once you submit the BPO, it is forwarded to our assurance team- who will then look over your form and if anything needs to be adjusted, they will contact you directly.

Afterwards, we send the BPO to our lender, as well as the homeowner. Along with the BPO, we also send the homeowner some information on short sales on a USB flash drive. The flash drive states that our firm understands the situation of the homeowner and we are offering them options for their distressed property, as well as a real estate agent to work with (You). One of the options we push for the homeowner is conducting a short-sale.(Keep in mind that the short-sale is not mandatory, if the agent (You) does not want to do short-sales then it is not required.)If the homeowner decides to go with the short-sale, the bank we are working with will refer you as the agent. It may potentially make you 2 sales; selling the property that the bank wants sold, as well as relocating the homeowner to another property or rental.

If the homeowner does not want to go through with the short-sale and the property goes into foreclosure, you will be the listing agent for that property. As far as our platform goes, we have a technology fee of $400 to activate your account. You should expect a minimum of 8-12 assignments within a 6 month time period. We do not charge any referral fees or take a commission split from you, our firm receives a separate commission from the lender directly. Also, Reo Pro Corporation, is a full-service asset management firm. Once this property comes back as a listing, we put the utilities in our name, take care of maintenance, handle the repairs, conduct cash-for-keys and re-keying the property. Your responsibility would be letting our firm know what needs to be done. If you have any questions please give me a call or send me an email back.

Kevin Kelly
Asset Manager
Direct #: 302-212-0682 ext 533”

(author’s note: The email address submitted for this comment appears to be associated with someone who runs a Brunswick Zone bowling alley in Waukegan, IL. Google does not return any relevant results for a real estate agent with this contact information in Illinois. I am unsure what qualifications, if any at all, this commenter has in regard to marketing REO properties, or any other real estate.)

You people are all idiots. Has anyone in this blog actually used their services and been unhappy with them. Just because you do not understand the way your business works and you are an incompetent agent does not mean that every time somebody asks for money upfront it is a scam. I have used REO Pro’s services for the past few months and have been very happy with my experience. In the past I have paid asset managers several thousands in referral fees out of my commission for the same services REO Pro provides for one flat fee. All of you think you are so smart blogging to each other about a phone call you got and the assumptions you have made about this company even though you have never used their service. The truth is none of you have any clue what you are talking about and you all sound like morons. Try asking for a testimonial like I did if you have a questions about this companies legitimacy. Why rely on the word of a bunch of people who have never even worked with REO Pro before. Answer me this. Has anyone actually been scammed by this company?

I only opened their email today without even applying for anything. There must be a tracker because within minutes of opening the email I started receiving phone calls at the office. The gentleman’s name was Mike. He was very persistent that there is no charge and a lender gave him my name as an agent to contact and provide a listing with. I proceeded to Google this company and came across some info that backed up the feeling I got on the phone. DO NOT TRUST, DO NOT GIVE MONEY, DO NOT WASTE YOUR TIME! He would not take NO for an answer and swore there was no cost or sales pitch. LIAR!!

I signed up w/ Mike ($400). Ran out and did the BPOs on the 3 “assigned” properties. Emailed Mike to ask if the BPOs were to his company’s liking and style. Didn’t get a reply. Also didn’t get a good feeling. After reading comments above, I will start my charge card appeal! What a waste of time!

A Blake Carter has been emailing me for a week and leaving me messages. 1st contact was through my Zillow profile. When I asked about their program, he offered up a great pitch. I said I was interested and he offered up an address located about a mile from my office. He told me this was an actual reo assignment. Then he sent me the address and it is my own listing that I actually closed this past Friday. I told him so and promptly hung up. It appears they are reviewing seriously delinquent nod’s and then passing those off as though they are going to be the asset manager for them and collecting from us agents. Keep you cash and stay clear.

I was just contacted by:

Brian Harris
Asset Manager
REO PRO Corp
302-212-0751

His pitch sounded the same as some of the other calls I’ve had.

Just got off the phone with Kevin Kelly. Same stuff about having an assignment for me in Cape Coral (FL). Answered his questions and then it came to me that this sounded like a scam from last year ( I couldn’t remember the name…but it was Banker REO) and he said “was it Footprint?”. He tried to make it sound like he knew about the scams and that they were not part of them. He even gave me the address for the home and I checked it out while we were talking and the house was a short sale that went “pending” yesterday. He said that his supervisor probably wasn’t aware of that or that the bank may not be accepting the short sale. I told him that I was going to do my due diligence and he said OK and that, of course, there will be people out there spewing lies about the company. I will call him back next week and tell him the same thing I told Banker REO…”you guys guarantee a listing or my money back…I guarantee to pay you $400 when I get a listing” You can probably guess their response. They said they don’t work that way and I told them the same. You will never pay a legitimate asset manager up-front…they always take a split.

Boy what a waste of time! Asset manager gave me 2 listings and the longer we spoke the more listings I got. I got 4 listings by the end of conversation. Opened this site and felt so violated. As realtors we are open to a lot of scams since our information is all over the World Wide Web! It was too good to be true. I gave no money. Thank goodness!

They stated they work with the Community Bankers Association & assigned me 2 BPOs, the first a short sale closed 3 months prior & second one a short sale listed for 282 days. One phone call to the Association they claimed to do business with who stated “Obviously the Cease & Desist letter is not working”. They refunded the $400 to me right away. They talked a good game over the phone and caught me off guard before I was able to check them out thoroghly…they are no doubt a SCAM running from a virtual office so they can pack up & move on quickly. Run Fast & dont believe their empty promises of listings when the rest of the established REO outsourcers have little business.

Reading all these messages sums it up. Do your due diligent and ask question and check it out. I have worked with many REO Asset managers and they are not hacks for money for the platform. They keep calling. They know how to make that carrot out there appealing. Thanks for the internet and those who use it.

Spent a good 10 (wasted) minutes on a Saturday with “Mike McLean” of REO Corp. I too was deemed worthy during my “phone interview” and he allegedly had permission from his lender to go forward with assignments. After “accepting” the assignments, whose tax records did not show a lis pendens or other REO telltale signs, he hit me up for $400 to “get started.” At that point, he soon learned his time was wasted as well. Thank you for exposing these hucksters!

Dodged a bullet there. Glad I found this first. Won’t be wasting my 400 bucks. Thanks everyone. Also was contacted By Mr. Harris

Had my credit card out for my Friend John Harrison. Just didn’t feel right. I had 2 BPO’s a mile from my house to do. Easy right? I just wanted to talk to another Realtor. They gave me a name in Hollywood, CA. Great guy so very excited about the program. Almost too excited. I even asked if he was in the room next door to the “Asset Manager” John Harrison. He said of course not. It felt like maybe he was in on it. I googled and found a video http://poncie.com/2014/01/11/reo-pro-corp-legit-or-scam-fannie-mae-application/ and sent it to John at REO PRO CORP. His respose: “That video is irrelevant. He’s never worked with us. He says we are a scam because we don’t work with Fannie Mae and Freddie Mac, which we never claim we have. Also because we use professional paid spokesmen for our marketing. All companies do this. If this is not for you, then that is fine. Thanks for your time.” Just his response says it all. Before when I had my credit card out I was the best in Minneapolis, MN. “Thankfully I was referred to you”, he said. Now it’s on to find another sucker. So glad my gut said no. Now I have $400 and think I will take my wife to an awesome dinner tonight! STAY AWAY FROM THIS. IT IS A SCAM.

Thanks everyone James Opperman? Called with a great deal 2 listings etc. thank the lord my wife is smarter than me. I called her and had her check them out. Not good. I am a broker in Sonoma Co Ca and think that all of us work to damn hard to give out very very hard earned $ to some scam artists. Wish we could call them with a great deal, Ha. he was good had me on the line. Is this what it is all coming to? I think in 3 years all this REO short sale stuff will be by by. (hope so). If you need an honest office to help with any ref in our area we pay 25% and you never have to worry about your folks. Look us up http://www.townandcountrysonomacounty.com Thanks to you all.

many complaints to the federal trade commission about this company will get them to shut down. http://www.consumer.ftc.gov/articles/0243-job-scams make sure you note that REO PRO CORP pays for a virtual office in WILMINGTON, they are actually out of Illinois, check out http://www.paradigmnext.com, that’s the actual business name. if you have time to blog about it then you have time to make a difference in the people who did get scammed.

These guys just called me. His name is Chase. I told him I wasn’t near a computer and asked if he could call back. This way it gave me time to think and google search them. I’m glad I did. I know what to do when he calls me back. Thank you for your comments and feedback. It’s nice to know there are people out there helping others!

Got a call today. Thankfully I was driving and didn’t go through set up system. Did research and not a single positive results. looks like they always have 2+ available properties to offer:). Thanks for saving my $400

Ouch! Just got hit. What was I thinking. Actually I was not even thinking SCAM. He sounded so convincing and he said is a technology fee just as equator or resnet that It sounded legit. I am upset and embarrassed I just gave my CC to a stranger. Shame on me. I should have donethe research before. Anyways is there anything I can do? Charge back, cancel CC?

SCAM SCAM SCAM!!! So these people got my boss! She is very intelligent and pretty sharp but these people are VERY good at what they do. She got a call from a guy named Chase Brennan. She was very eager to get asset managers (as we all are) and also in a rush so she did not take the time to do research on them before hand. They urged her to pay the $400 for two listings. Once she paid they gave her TWO FAKE BPO’s to do. Today its common practice to pay asset managers to get on their sites, So BE CAREFUL! She actually called them back to tell them that they are bad business people, they had the audacity to call her back twice and argue with her! Beware and do not get them your credit card info. She is working with the bank in claims to get her $$ back.

Same exact call as Kevin. I thought it was fishy. Hung up after about 3 minutes. But the key here is that they are calling themselves iREO now. A little bit of a change in name but the same crap.

I think I just dodged a bullet! I received a call today from Mike Powers with the same sales pitch – has 2 properties he wants me to be the listing agent on. Properties are in pre-foreclosure, so do occupancy check and BPOs. I gave him my CC info before I checked references – not a good idea. Once I read all of these comments I called my CC company and the charge had not yet been run so I cancelled my credit card account and they are opening a new one for me. Told me to call them if I receive harassing phone calls from REO Pro. I’m not the least bit worried about their threats with credit agencies or lawsuits. I’m just glad I saved my $400! I know better next time!

I have been in contact with a Dave Larsen claimed to be Asset Manager for REO Professionals that deals with different lenders 302-231-3023 (number left on his voicemail ) & 302-394-9145 (number on system). Same spiel.

He gave me 2 REO addresses where I would initially do an occupancy check and Exterior BPO. We have scheduled for him to call me at 2PM when I’ll be at my computer so he can walk me through signing up on their system similar to Resnet that will cost $400.

So now after researching I’ve found both addresses had NODs in July 2014 but neither one are bank owned yet. Couldn’t get much info from the Servicing companies nor lenders due to FERPA. Luckily I found this site so I can now rest assured it’s a scam and I can save my $400 and not feel like I may have lost a great opportunity.

Thanks

Thank you all for your comments. They almost got me to sign up today. This guy “james” was very good and sounded like a very professional.. Professional Con Artist. I told him I didnt have the company credit card and I have to call him as soon as I get to the office. Thank goodness my broker suggested to check the reviews and good enough we found hundreds of bad reviews and none positive. While I was reading the reviews about this company I saw him twice calling me but I ignored his phone calls. What I am worry now is the email I received from them thanking me for accepting the terms and conditions indicating from my IP address. Now that they have my IP address, I am afraid I could get hacked by this company. I use my computer to pay bills and check my bank accounts. Can someone enlighten me about the IP address please. Thank you.

I fell for the sam too. In March, I paid the $400 did 5 bpos for free and then left it alone. Today I got a call from someone else in company and after “hooking” me, asked for the $400. I told him I already paid the $400. He was “befuddled”. Is there anyway to press charges against this company?

Thanks to you all. This morning, I was in my car on my blue tooth when I received the call. The first question I asked was “How much is this going to cost me?” After hearing him expound on my experience, I asked him to email me the info. I’m past wasting my time on PBO’s, never mind having to pay anyone upfront.

I ran into a situation that cost me money, not much, but still money is money.
REO_PRO offered cartoons for real estate, total cost for my package came to $82.
I placed my order 2 or 3 weeks ago and received nothing!
I have sent several e-mails to them again with no reply.
They do not list a telephone number only an address in CA.
Since this happened I’ve received several advertisements from THEM for the same product.
There are scamers everywhere most like to work the RE agents.

On of my agents was just contacted by them. The third page – THIRD PAGE – of their welcome package warns the agent not to dispute the charges or else suffer a criminal charge, collection reported to credit bureau, and/or civil lawsuit. “Welcome to our company – don’t try to take your money back!” I’ve never seen a legitimate company give something like this out. In fact – I HAVE NEVER SEEN ANYTHING LIKE THIS POLICY DISCLOSURE!
From their welcome package-
“A “chargeback” occurs when a customer disputes a credit card charge. A fraudulent chargeback occurs when a customer attempts to dispute a charge for products or services that they have actually purchased.

Attempting to dispute a valid credit card charge is fraudulent and is illegal.

REOPro does not tolerate chargeback fraud, and we follow the following procedure when this takes place:

1. If you attempt to dispute or deny a valid charge, we will first contact you directly, because most disputed charges occur as a result of the customer not recognizing our charge on their statement. You will have ten (10) calendar days to reverse your dispute upon receipt of our letter.

2. If you do not reverse the dispute or otherwise attempt to resolve the situation, we will file a police report with your local authorities and seek criminal charges against you.

3.Your account will be turned over to a collection agency, which will initiate collection activities as well as report your account as delinquent to all of the major credit bureaus. In addition to our US collection agency, we also contract with collection agencies abroad.

4.If you still do not resolve the situation by either reversing the dispute or reimbursing us for the amount disputed plus our bank fees, we will file a civil lawsuit against you for the amount disputed, for bank fees related to the chargeback, for additional damages for the harm your chargeback causes to our merchant credit record, and for punitive damages as the courts do not take credit card fraud lightly.”

I too received a call today at 1:48 pm from a Casey ( didn’t catch her last name). She asked me several questions regarding my qualifications. Lucky I was by a computer because I checked them out while she was on the phone. She gave me a couple of addresses in my area and there were no defaults recorded against the property. It is a scam don’t give them money or your time.

So, I was contacted yesterday got the warm fuzzies feelings, talked to my broker looked at this site and now feel I need to drive to Delaware to explain how I feel.
There is no way that any legitimate company could have this many bad reviews.
I spoke to Diane Dydirt at 302.358.2214
I am in the Washington DC area serving most of Maryland will give a 25% referral

I too received a call from a man this morning ( Israel Godson, phone: 302-504-6693 ) who said he was an asset manager with Wells Fargo. He gave me three addresses as well…that he said needed BPO’s done on them.

I became less interested when he mentioned REO Professional Corp as the platform they use instead of Equator…and there is a cost of $400 to use the REO Pro Corp platform. I explained that I wanted to do some research on that platform and got off the call.

My “research” turned up this blog, as well as others, and no one can say anything good about this company. Nor has anyone ever said they actually received an REO listing after doing a BPO on the properties they give you.

I checked the addresses he gave me and two of them were already on our Multiple Listing Service!!! I called the agents on them and found one of which is Under Contract and closing in about a week! The other was a short sale listing…so these people may be looking at a default list of some sort because they know the banks.

IT’S A SCAM!!!!!! Spend your hard earned money on reaching out to your own sphere of influence.

Thank you for your comments and contribution,

Caroline Stevenson-Mueller, GRI, SFR
Principal Broker/Owner
Right Time Real Estate
Utah

Got the sales call today from iReo Pro with same sales pitch as mentioned above. The lady said her name was Carla Smith and her direct line is 302-358-2200. I was Googling the company as I was speaking with her, but could not find anything about their company except comments (mostly negative). She said she would give me their website and walk me through everything once I signed up and paid $400 one time set up fee. She gave me 3 addresses which I looked up on tax records while we were speaking. Property 1 did show to be a pre-foreclosure, so that perked my interest; Property 2 did not have any indication of pre-foreclosure notifications & interestingly, the owner’s name was the name of one of a top RE Broker in my area. I’m not sure if it is the same person, but seemed very suspicious. Property 3 showed to have already foreclosed 2 months prior and now owned by FNMA. Carla said her info on that property must be wrong and we should forget that one. But not to worry, she can find several more pre-foreclosures to assign to me today. By the way she said they don’t pay anything for the BPO because I would be guaranteed the listing and that’s where I would make my money.

I don’t think any legitimate asset management company would select their listing agents in this manner. Sounds too much like a scam to me. Glad I found all your comments. Thanks.

Annette Thurmond
Broker, GRI, ABR
Performance Real Estate
Southlake, TX