Bulk REO's 4 posts by 4 users

Posted: 02/08/2008 at 01:06PM

I have a question for everyone here. Are there alot of people getting the same run around when it comes to producing tapes? In the last 2 weeks I have reached out to sellers (mandates,Direct contacts) and have provided LOi's and POF's, my buyers get hard proofed and no tape. What I am trying to figure out is how do I spot out the wanna bee's and the true Sellers. Can you guys and gals provide me with some ideas or avenues I can take to head the right direction. Thank You...

Posted: 02/12/2008 at 07:06AM

Why would you proof anything before seeing the product? Even grocery stores give samples of food to get you interested

Simply put.....NEVER PROOF ANYTHING prior to receiving product

It'll weed out 99% of the fake " mandates"

When I get product I immediately create a teaser tape with a removal of info because I know when it gets to the broker chain zoo it goes around the world in 60 seconds

When I get a buyer who has interest I release the whole version

Sellers want to sell........there is no viable reason to not see or get a tape prior to proofing and NEVER EVER release LOI's or POF's to a " broker"

If the schmuck asking for that info isn't an attorney for or the seller direct....PASS IT UP!

There just seems to be a thought process out there that believes that information is OK to shop,

In case nobody here has seen or felt the changes in (lacking) flow....you're in a coma.......but it's a result to the idiocy that infiltrated the secondary market

Hope this helps bro,