Decades ago I argued with this guy with a strong accent about an issue that at some point I finally realized: They outsourced the solution too

Oh great. And what do they use for data source? Zillow! LMFAO

I have lots to say about this topic. First, banks and asset management companies that pay pennies on the dollar get exactly what they pay for. As in sales, discount bpos result in discount experience and a poor quality bpo. I complete 1-2 bpos a day every day. I get paid very well and do a great job at them. I get lots of bank owned listings for my hard work. I see many discount bpos every day, incorrect information, wrong towns even. I was offered a contract to QC some of these bpos simply on desktop, took 5 minutes and paid 20 bucks each by simply pulling the tax card and mls sheets . I found massive errors. I got double pay to correct it. On the bpo front, i wont take discount bpos they offer. Tjere are companies that have gone that route and have done away with it due to poor quality. The next trend they dont talk about is computer generated bpos. I had a contract to work on them as beta project and every one was wrong.  A REAL BPO not only shows value, but is suppose to identify if the home is vacant, occupied, damaged or needs attention. The GOOD banks then actually read the info on the bpoo and send people out to secure them homes. 

I had no idea but, it doesn't surprise me one bit, Buzz!

It wouldnt surprise me a bit.

Tough to drive by the property that way, but never did or cared about BPOs so no worries either way.

good.... they pay pennies....

A new form of Zesstimates! Wonder which ones will be more accurate.

There are just too many outsourcing in every field.  It makes you wonder do they pay for those people to fly over to the US and physically view the home? :)

      My wife's cousin is a techie in Bangalore.  That city is nicknamed, "The Silicon Valley of Asia".  They have access to the same internet data that American companies have, and their prices for BPOs and other services are very competitive. 

Are they getting the needed photos from Google Street View? If they are not licensed, it's not a genuine BPO. Not worried about BPOs, they did pay well years back.

I did not. Why am I not surprised?

Corelogic was a bpo mill division in India for years.  They have access to borrower personal information.  US has to shoot the images and they upload. They charge a few bucks per order.

Amazing!

Actually it is a sign of them using big data with learning computers, the beginning of AI. Get used to it.

Interesting stuff.

Thanks for the alert.

Why am I not surprised?  So much has been offshored there.  Problem is, it all comes back after costing the companies way more than they thought they'd save.  Saw it with call centers, saw it with Guitar Center's IT department, we'll see it here.  Typically 5-7 years for it to go and come back.

Ohhhh, that makes so much sense.  That is preposterous

Buzz Mackintosh It doesn't surprise me. Who would know our market better than someone in India?

That explains the pricing on foreclosures!

Wonder how this works...

I did not know that, but am not surprised.

During the final years of Bank of America's economic disaster, many BPO were being completed by those with a  very inadequate command of English. Issuspected outsourcing was inevitable when BPO were granted to the lowest bidder.

We have seen nothing yet.

Won't need India either.

Interesting to know. Zillow or Google photos are not necessarily current, a lot can happen to a property from the time those photos were taken. 

Sad, but true..

Bob Crane nailed this one!

POTUS needs to put an end to that.

Why does that not surpise me, everything else is!

TA DA. Appraisals from a local resource, BPO's that are done by someone swimming in the local real estate market. That's the way to go but not for $35 or too little compensation Buzz Mackintosh !

Ocwen ???

NO but why not? I diid them for years without leaving my desk.

I was not aware, but doesn’t surprise me. 

I did not know ... but that does not surprise me.  With the internet ... you can get the information through public records easy enough.

Buzz Mackintosh - so they will have the valuation in Indian Rupees.... lol!

Didn't know but no surprise.

With Google Earth and so many tax services online, I heard they started doing this. I bet the companies can get it done really inexpensively.

I did not know, and thinking we are not seeing many around Denver.

That's disappointing.

But figure jobs are to stay in our country.

 I only know one company in India that takes my POs that are assigned to me 

I had no idea.  All local BPO's I have heard about are done by local agents.

It doesn't make any sense to me although it's not surprising. Misrepresented valuations are something I won't be supporting when the crumbling begins.

    Good grief.

I still do about 8-10 a month when I have time but I am not in India so maybe that is why I don't get 100s!

Not surprised. It's been years since I have completed a broker price opinion. 

Buzz,

No one said those foks are smart or know what they are doing...

Yes...I have heard of the drive by look. How can you get accurate like that

Now I do!  Another reason why I refer out customers looking to purchase foreclosures. 

I did not, but I also don't care.

No, thanks for the info.  Geez.  

oh boy....