Why Did Titanium Solutions Stop Doing Short Sale Processing?? Any one Have Inside Scoop?

I received a letter from Ken Tramp the CEO of Titanium Solutions informing HRC's that they will no longer be doing short sale processing and that we no longer have to give them a 25% referral fee on any listings we have pending with them.

 

He made it sound like they valued us and wanted us to have the referral fee as their gift to us.  Informed us that they were shutting down their short sale division.

 

Why don't I believe them????  Anyone else get the letter?  Know the reason?

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Permalink Reply by Jeff Payne on May 11, 2012 at 4:45am

I would guess that there are few lenders who actually want to do business with them and they have lost most if not all of their accounts.

Permalink Reply by Keji Ogunleye on May 11, 2012 at 4:53am

I got the letter..and really I cannot do business with this type of company.. 

Permalink Reply by ElizabethWeintraub00697006LyonRE on May 12, 2012 at 11:43am

People don't give away money unless somebody has a foot in their back.

Permalink Reply by brenda rogers on May 13, 2012 at 7:48am

I think they are still around and have a business relationship with Bank of America but that the "new" relationship requires that they give up the short sale division referral fees.  Just a hunch and a really good and educated guess.  I don't think they 've got anyone's foot on their back.  I think they've got their foot in a door, though, and it remains to be seen if their business practices will improve or not.  Oh, and they've changed their name. :)

Permalink Reply by Evelyn Santiago on May 13, 2012 at 10:20am
Brenda:
Thanks for the inside info. Yes, it deoes appear they have an inside track with BANA. Glad they got out of processing short sales and getting the 25% referral fee for nothing. They need to concentrate on one thing. Once they cut the payments on the jobs it was not worth taking assingments except every once in a while to meet potential clients and keep on top of the chaning values.

What is their new name going to be??

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