Just got this email......
We are excited to announce that Altisource®, a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries, has announced it will acquire Equator. We expect to close within 30 days.
What does this mean for our agent network? Equator will not be changing our name, our offices or our management team. There will be no changes in the way you transact business today. In the near future, we will be even better equipped to provide you with value added services, technology and relationships. Equator and Altisource have a highly complementary set of technologies and services which will enable us to provide a more comprehensive, integrated solution and build new products and services to better support your business.
We are excited to launch this next phase of our company and our agent network, and are deeply grateful for your ongoing support. You can continue to look to us to provide you with the same great service and technologies you have come to expect from Equator.
Please feel free to contact us personally should you have any questions.
Sincerely,
Christopher Saitta
Chief Executive Officer
John Vella
Chief Operations Officer
**********************************
like buttons
Replies
I just saw a post that if the sellers refuse to go forward with Altisource, after 15 days the file will be sent back to Ocwen and they'll proceed with a traditional short sale with a 15 day delay. I just submitted the sellers refusal letter to participate with Altisource. I will keep you updated as to whether this is really an option. Fingers Crossed!
Ocwen Used to own Altisource, they spun them off years ago. Altisource of course still does work for Ocwen and has biz relationships with them.
We all have to stick together to fight Ocwen, Altisource and HUBZU but I don't have a clue how we do that. Jeff - below you state Altisource owns HUBZU...does Ocwen own Altisource? Trying to get my facts straight before I contact the attorney general in Virginia.
My short sale was hijacked by Altisource right after Ocwen accepted the value and told me to start negotiating the second trust.
I think every agent on this site needs to stick together and simultaneously send out a well thought out email or letter of complaint to NAR and our attorney's general, not to mention all the big news outlets. We need to find a way to get this issue in front of the press. Any ideas out there on how we could accomplish this? The sellers are strong armed and have absolutely no choice in this matter. It appears they "have" to break their relationship with the listing agent and give Altisource 3rd party approval, etc or....go into foreclosure. Help!
Yes Diane OCWEN owns Altisource (the platform that never works), and soon , the world.
Bryant, Please expand on your all short sales will go to auction thought...I am about to have a heart attack. Short sales are still 75% of our business here in Portland, OR. Also, if a seller wants to do a short sale, who says they HAVE to go to an auction site as well?
As Jeff mention all of the entities are connected. They are trying to make or recoup as much money as possible. What better way than to expand into the selling of the property and the collecting of all the fees.
The part that has me concerned the most is that in some of these auction scenarios the seller is giving the 3rd party for the first the authority to negotiate their junior liens. That leaves the seller completely exposed for future liability.
Wendy it is already starting, most lenders are now using auctions to dispose of their foreclosures and when you peel the layers back, guess who owns most of the auction companies? It is their way of getting into the real estate market. The lenders will say that the auction site is the place they work their short sales
Jeff, Is there no protection for the homeowner who signs a contract to do a short sale, not auction? I have not run into any auction stuff and we close a lot of short sales.
Wendy there should be protection. The banks will try to strong arm agents into using their auction companies. Keep in mind that I am in Florida.... Florida and California tend to lead the way with these things
-
1
-
2
of 2 Next