Welcome to the first post from the new and improved BPOaccess.
The site has undergone some significant upgrades (and we hope the information useful) – for those interested in the BPO market.
Moving forward, the hope is the site will be more of an interactive community for those involved in handling BPO’s.
With members offering insights and assistance to each other, clearly with the thought in mind that BPO services can be a pretty competitive area.
Our research shows, that due to the improving economy and lower REO inventory, the volume and fees associated with completing a BPO have dropped.
With that said, we did speak to one very large REO asset manager, who indicated that their network was sitting on 10-12 times the inventory they currently have on the market – in the specified area we were discussing (location is privileged information).
We feel the banks are playing a game of chicken with the market; hoping the continues to improve enough for them to unload them before things to south.