Titanium Solutions & Can I say WHAT?
Replies to This Discussion
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Permalink Reply by Jeff Payne on
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Yep, that sounds pretty bad, as soon as she said to contact my Realtor, the agent should have done just that. I usually have my sellers sign a "Do not contact me form" that directs the lender to me. It works sometimes.
I agree with you, if it is a Realtor that is approaching the homeowner for TS, they need to disclose to the homeowner that they are a Realtor.
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Permalink Reply by Steele V. Propp on
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While I agree with the general idea of identification, there is the issue of not soliciting the homeowner in any way. Giving out the TS card is all that is allowed. Giving a real estate card could be looked at as solicitation. And we are not acting as a real estate agent in this situation.
Perhaps someone can get the actual verbiage on what is allowed or not by Titanium and the lender to see if there is a conflict between COE and how this is required to be done.
Keep in mind that, again, the purpose of the visit is to establish contact between the homeowner and the lender. Not the listing agent. Nothing more. We do know that any kind of solicitation beyond this is strictly forbidden by TS.
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Permalink Reply by Melba Diaz on
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okay, I guess they are a service only trying to see if they can help the Lenders/banks at their own risk, and maybe they do share a profit with each other. I have a seller that we are in Short Sale and after she was in lack of income and in a hardship and was aleady given an loan mod from her lenders but got into a difficult situation due to hardship, she called me one day telling me that a lady was there at her home saying that sellers lender sent her to see if she would qualify for a loan mod.???
this raised a question and concern since we had an offer already that the lender was reviewing and considering, right?
I e-mailed the negotiator to find out who was this lady and if they sent her to sellers home and they informed me that no one that he knows from the bank sent anyone, and that maybe it's a company that request services sometimes from them to go to peoples home to see if they can help and it might be a compnay name Titanium Solutions,so to let seller know to proceed with the Short Sale. and that he had no idea who that person was.
My seller informed me that she did not leave her name or a ph# for contact, so she never knew who this person was
so that's when I called the lenders. In this market I guess everyone is hurting is out there for a buck, eveyone is looking for business.
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Permalink Reply by Eric Mieles on
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Melba,
So there's a couple things I picked up from your post. 1st are you sure it was a HRC from Titanium? Just cause someone approaches and knocks on a door and says something doesn't necessarily mean they are from Titanium or for that fact any other company. There are many scams and people approaching borrowers stating they can help.
2nd I'm not sure if you fully got what Titanium is and what they do. There not some company just "Help lender/banks at their own risk" they establish contracts with servicers to REESTABLISH communication between the borrower and the servicer so that communication can be restored and solutions may be worked out.
If in fact it was an HRC and the borrower was in the middle of a short sale then simply the HRC would take down the necessary information, report it back to corporate and be done with the file. That's it!!
Melba Diaz said:
okay, I guess they are a service only trying to see if they can help the Lenders/banks at their own risk, and maybe they do share a profit with each other. I have a seller that we are in Short Sale and after she was in lack of income and in a hardship and was aleady given an loan mod from her lenders but got into a difficult situation due to hardship, she called me one day telling me that a lady was there at her home saying that sellers lender sent her to see if she would qualify for a loan mod.???
this raised a question and concern since we had an offer already that the lender was reviewing and considering, right?
I e-mailed the negotiator to find out who was this lady and if they sent her to sellers home and they informed me that no one that he knows from the bank sent anyone, and that maybe it's a company that request services sometimes from them to go to peoples home to see if they can help and it might be a compnay name Titanium Solutions,so to let seller know to proceed with the Short Sale. and that he had no idea who that person was.
My seller informed me that she did not leave her name or a ph# for contact, so she never knew who this person was
so that's when I called the lenders. In this market I guess everyone is hurting is out there for a buck, eveyone is looking for business.
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Permalink Reply by Terri White on
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Yes, quite enlightening! And very disappointing and frustrating for those of us who are, in fact, trying to help homeowners, maintain our business that we have cultivated over many years at a cost of thousands of dollars!
Leslie Neiss said:Titanium Solutions are Realtors? I can't believe I am reading this.
These are the people who have been hounding my short sale clients with mailings, phone calls and visits to their home? Clients who are already in the middle of the incredibly frustrating dealings with BOA and their internal employees, are, in addition, being harassed by Realtors. Seriously?
"You are suppose to identify yourself as a Homeowner Retention Counselor with Titanium and at no time are you to give out your real estate card." Did you ever consider why that is?
"TS recruited local Realtors to makean in person contact with these people on behalf of the bank. Basically set up a telephone contact with the bank to see if something could be worked out. The HRC does not solicit listings and is forbidden to do so. They and TS act as a third party to bring the bank and borrower together to see if foreclosrue can be avoided. Really? You think you've been providing a helpful service. Isn’t that your job as a Realtor where you actually identify yourself as such?
Now recently TS has also added shortsale services and the lender may recommend TS to provide an agent to list a property. However, if a property is already listed they will not make such a recommendation." So this is why, after hundreds of non-stop calls, the "Home Retention Counselor" -- who has NEVER identified themselves as Realtors come to the door and see my "Under Contract" sign, leave written note stating they had no idea the house has been under contract, and if they want to discuss to call. My clients call and are told no one will contact them further, NO MENTION THEY ARE TALKING TO A REALTOR, only to have a new "HRC" begin the calls again the next day.
Now this all makes sense.
And to think we thought they were some low paid call center just spewing out the calls. . . This is quite enlightening, folks.
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Nope, not 100%..
I requested the paper that was left there with my seller and she was supposed to send to me.
I am very curious on this too because the negotiator informed me that if they send someone or would send someone out there they would have seller delivery signed , right? I have had Titanium Solutions come to my home because I also am on the list for a Modification on my home and they did take the info and had all my info with them and left me a business card for me to call or fax the paper work to my lender, according to the Titanium at that time, they were sent by my lender. so on this case the negotiator assumed that it could have been Titanuim Solotions,.
I will keep you posted when I find out who it was. So there's a new HRC from Titanium ?
I explained to seller about services that sometimes are as Third Parties trying to help with solutions and of course
to be aware of some scams. We in our profession also have to be alert and understand how people
that are loosing their properties can react or do funny things to see if they can stay in their homes
with out having to pay a professional for legal services or get legal advise. Many of them want to stay for
free and think that we should help them stay in their homes for the longest time. Is this our job? work
for them and keep them in their homes with our free time and work ,and than wait for the last minute for them to foreclose
on them and Us never get paid ? mmmmmmmmmm? Is this what a Realtor is for Short Sales?
Melba
Eric Mieles said:Melba,
So there's a couple things I picked up from your post. 1st are you sure it was a HRC from Titanium? Just cause someone approaches and knocks on a door and says something doesn't necessarily mean they are from Titanium or for that fact any other company. There are many scams and people approaching borrowers stating they can help.
2nd I'm not sure if you fully got what Titanium is and what they do. There not some company just "Help lender/banks at their own risk" they establish contracts with servicers to REESTABLISH communication between the borrower and the servicer so that communication can be restored and solutions may be worked out.
If in fact it was an HRC and the borrower was in the middle of a short sale then simply the HRC would take down the necessary information, report it back to corporate and be done with the file. That's it!!
Melba Diaz said:
okay, I guess they are a service only trying to see if they can help the Lenders/banks at their own risk, and maybe they do share a profit with each other. I have a seller that we are in Short Sale and after she was in lack of income and in a hardship and was aleady given an loan mod from her lenders but got into a difficult situation due to hardship, she called me one day telling me that a lady was there at her home saying that sellers lender sent her to see if she would qualify for a loan mod.???
this raised a question and concern since we had an offer already that the lender was reviewing and considering, right?
I e-mailed the negotiator to find out who was this lady and if they sent her to sellers home and they informed me that no one that he knows from the bank sent anyone, and that maybe it's a company that request services sometimes from them to go to peoples home to see if they can help and it might be a compnay name Titanium Solutions,so to let seller know to proceed with the Short Sale. and that he had no idea who that person was.
My seller informed me that she did not leave her name or a ph# for contact, so she never knew who this person was
so that's when I called the lenders. In this market I guess everyone is hurting is out there for a buck, eveyone is looking for business.
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Terri,
Maybe you can help us understand what's so frustrating and disappointing?? HRC's are professional Realtors just like you. They have also been cultivating and working very hard on maintaining a database and trying to help homeowners avoid foreclosure. That is the exact reason for becoming an HRC!!??!
I don't understand if you guys are worried that your losing clients, scared if someone is stealing your clients or just not fully understanding what's been said here. I guess i'm just confused on why you may be angry or frustrated?
Terri White said:Yes, quite enlightening! And very disappointing and frustrating for those of us who are, in fact, trying to help homeowners, maintain our business that we have cultivated over many years at a cost of thousands of dollars!
Leslie Neiss said:Titanium Solutions are Realtors? I can't believe I am reading this.
These are the people who have been hounding my short sale clients with mailings, phone calls and visits to their home? Clients who are already in the middle of the incredibly frustrating dealings with BOA and their internal employees, are, in addition, being harassed by Realtors. Seriously?
"You are suppose to identify yourself as a Homeowner Retention Counselor with Titanium and at no time are you to give out your real estate card." Did you ever consider why that is?
"TS recruited local Realtors to makean in person contact with these people on behalf of the bank. Basically set up a telephone contact with the bank to see if something could be worked out. The HRC does not solicit listings and is forbidden to do so. They and TS act as a third party to bring the bank and borrower together to see if foreclosrue can be avoided. Really? You think you've been providing a helpful service. Isn’t that your job as a Realtor where you actually identify yourself as such?
Now recently TS has also added shortsale services and the lender may recommend TS to provide an agent to list a property. However, if a property is already listed they will not make such a recommendation." So this is why, after hundreds of non-stop calls, the "Home Retention Counselor" -- who has NEVER identified themselves as Realtors come to the door and see my "Under Contract" sign, leave written note stating they had no idea the house has been under contract, and if they want to discuss to call. My clients call and are told no one will contact them further, NO MENTION THEY ARE TALKING TO A REALTOR, only to have a new "HRC" begin the calls again the next day.
Now this all makes sense.
And to think we thought they were some low paid call center just spewing out the calls. . . This is quite enlightening, folks.
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Hi Eric,
I tend to agree with Harry on this one. Your statement makes it sound like you are using TS to build your database, which might just be the case and there is nothing wrong with that as long as that property is not listed and you are not soliciting sellers who are already listed. I think that was the original intent of this post, to discuss TS HRC's soliciting clients or not fully disclosing that they are realtors
I for one would never be worried about losing my client to an HRC, I would just be concerned of what kind of message it is getting across to my seller and if that message is in conflict with what I have told them or what is really happening.
Eric Mieles said:Terri,
Maybe you can help us understand what's so frustrating and disappointing?? HRC's are professional Realtors just like you. They have also been cultivating and working very hard on maintaining a database and trying to help homeowners avoid foreclosure. That is the exact reason for becoming an HRC!!??!
I don't understand if you guys are worried that your losing clients, scared if someone is stealing your clients or just not fully understanding what's been said here. I guess i'm just confused on why you may be angry or frustrated?
Terri White said:Yes, quite enlightening! And very disappointing and frustrating for those of us who are, in fact, trying to help homeowners, maintain our business that we have cultivated over many years at a cost of thousands of dollars!
Leslie Neiss said:Titanium Solutions are Realtors? I can't believe I am reading this.
These are the people who have been hounding my short sale clients with mailings, phone calls and visits to their home? Clients who are already in the middle of the incredibly frustrating dealings with BOA and their internal employees, are, in addition, being harassed by Realtors. Seriously?
"You are suppose to identify yourself as a Homeowner Retention Counselor with Titanium and at no time are you to give out your real estate card." Did you ever consider why that is?
"TS recruited local Realtors to makean in person contact with these people on behalf of the bank. Basically set up a telephone contact with the bank to see if something could be worked out. The HRC does not solicit listings and is forbidden to do so. They and TS act as a third party to bring the bank and borrower together to see if foreclosrue can be avoided. Really? You think you've been providing a helpful service. Isn’t that your job as a Realtor where you actually identify yourself as such?
Now recently TS has also added shortsale services and the lender may recommend TS to provide an agent to list a property. However, if a property is already listed they will not make such a recommendation." So this is why, after hundreds of non-stop calls, the "Home Retention Counselor" -- who has NEVER identified themselves as Realtors come to the door and see my "Under Contract" sign, leave written note stating they had no idea the house has been under contract, and if they want to discuss to call. My clients call and are told no one will contact them further, NO MENTION THEY ARE TALKING TO A REALTOR, only to have a new "HRC" begin the calls again the next day.
Now this all makes sense.
And to think we thought they were some low paid call center just spewing out the calls. . . This is quite enlightening, folks.
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Permalink Reply by Scott Korbin on
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One of Titanium's responsibilities is to notify the Servicer of whether or not the property is already listed.
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I'm sorry guys but I highly disagree. I don't believe my statement sounded like I use Titanium to build my business. My statement "that is the exact reason for becoming An HRC" was in regards to saving homeowners from foreclosure.
Listen I can't speak for every HRC however I just know I operate with full integrity and only wish to help save homeowners who sit on their rear ends and do nothing to prevent foreclosure.
I'm curious to what sales pitch you speak of Harry? The one that goes "Good evening, your lender is requesting to get an update on your current information and would like to know what your intentions are with your home" or the one that goes "good evening, your lender is requesting to get an update on your current information and would like to know what your intentions are with your home"?
I have to say if your that worried I would really have to question the true relationship you think you have with your clients. I know your a professional and I would have to believe you provide a great enough service that your not losing clients to some stranger knocking on the door???
Listen guys I know we are very delicate with our database and all that but cmon let's be real. I think it's an incredible service and amazingly smart concept to create a door knocking service for servicers to reestablish communication with borrowers. You guys know how many borrowers just sit on their buts not taking any action at all and you also know how frustrating it is when you feel your more than capable of helping them and your community avoid another foreclosure.
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I understand Eric. I had a meeting on Sunday with a lady that needs serious help. 71 years old, 50% LTV, lived there 30 years, can't support her debt, can't keep a cell phone connection long enough to speak to someone from Loss Mit, weeks away from losing her home, and too embarrassed to tell her own grandchildren what she's going through (her son is dead and daughter in law estranged. She thought I was an angel arriving from Heaven.
It's a lot of work, but it has its intrinsic rewards. Frankly, I have found that less than 1/10th of HRC Assignment lead to Short Sale opportunities in the Short Term, but the long term opportunities are there, and in the short term, we're making a difference in the communities we serve.
On another note, I have a Short Sale Listing in Raleigh and the Bank sent out another Broker to do a BPO.
I'm neither surprised nor bothered by it. If anything, I would expect that a fellow Realtor would show mutual respect when due, and nothing more.
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Well said Scott. Very well said!
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