All-cash offers and offshoring of REO asset management

[AK]

So JtR’s blog mentioned that at least one large servicer was running its operations out of overseas call centers. (India, in this case, but it could just as well be any other country.) I did a bit of Googling and found this job posting:

Ocwen Financials – 23rd to 24th July 2009 – Bangalore – Voice process

We would like to invite the eligible applicants for Associate level position for a Voice process in our BPO division.

Interview process : 1st round is 12 minutes aptitude test with 50 questions and only when test is cleared we will consider the candidate for further process i.e. HR discussion, Voice and Accent test.

Contact person : Umesh / Rajatha

Position : Associate

Process : Voice process only

Shift : Only Night Shift

Experience : 0-1Yr

Education : BA, BCom, BBM, BBA, BHM, BSc

(computer science,MBA, BCA, MCA, BE/BTech graudates and candidates who have appeared earlier need not apply)

This position reports directly to the Senior Manager REO Sales and maintains responsibility for the following :

1. Support the REO properties sales process for assigned regions in the United States ? including accurately updating property listing information for the asset in the appropriate Multiple Listing Service, assisting in creating marketing materials, coordinating buyer tours, notifying buyers or buyers agents that their offer has been rejected, checking contracts for accuracy and completeness, answering questions about the property.

2. Coordinate with internal Ocwen departments to determine signage requirements, lock-box services and maintenance requests

3. Interact effectively within Ocwen Senior Management, clients and perspective purchasers

4. Answer inbound calls and voice mails from customers, real estate agents, and the general public regarding the management and sale of residential properties

5. Responsible for one call resolution for disputes, complaints and concerns

6. Monitor multiple e-mail accounts and provide same day response

7. Research top priority items by providing detail investigation of complaints and disputes

8. Produce written resolutions and/or summaries quickly

9. Ability to discern matters that require escalation to Supervisor

10. Timely completion of all work assignments and projects

11. Responsible for additional duties as assigned, including various special projects

12. Maintain strong team alliance, ability to work with co-workers to meet and achieve team and department goals

Key Result Areas :

-Manage a minimum HRD of 50 properties for sale

-Achieve 100% on review and acceptance of real estate sales contract documentation

-Attain same day response on e-mails and voice mails

-Maintain 24 hour response on calls or e-mails left after business hours

-Achieve 100% accuracy on Multiple Listing Service data input

Qualifications :

-Ability to perform in a fast-paced, constantly changing environment with accuracy under tight deadlines

-Excellent customer service skills

-Exceptional investigation abilities

-Demonstrated excellence in written and verbal communication

-Strong multi-task expertise, self-discipline, and attention to detail

-Proficiency in data processing, Microsoft Office – including Word, Outlook and Excel

-College preferred, minimum of 1 year responsible work experience necessary

-Knowledge of Real Estate transactions, agency relationships and Real Estate Owned protocols desirable.

OK, so Ocwen is placing immense responsibility for complex real-estate transactions in the hands of recent graduates halfway around the world. They’re not only responsible for signage and lockboxes, but for entering MLS data (this explains a lot of things), broker inquiries, and apparently review of purchase offers.

How much training does the average Bangalore college graduate get in California real estate law? Well, considering California college students tend not to get much training in real estate practice in Bangalore … I’d guess zero.

No wonder servicers are going with all-cash offers. Their employees probably lack the expertise to analyze any other type of offer.

I try not to get too worked up about job losses from globalization and offwhoring, but this is just ridiculous.

And please, try not to bash India or Indian workers … I think we should keep the focus on the domestic corporate parasites who are responsible for creating this situation.

[sdrealtor]

LOL, I have short sale right now with OCWen. They arent just putting the responsibility in the hands of Indian workers. They are putting it in mine..LOL

They actually had me do a BPO on my own listing. Thats a 1st! I still laugh about it.

[sdrealtor]

LOL, I have short sale right now with OCWen. They arent just putting the responsibility in the hands of Indian workers. They are putting it in mine..LOL

They actually had me do a BPO on my own listing. Thats a 1st! I still laugh about it.

[sdrealtor]

LOL, I have short sale right now with OCWen. They arent just putting the responsibility in the hands of Indian workers. They are putting it in mine..LOL

They actually had me do a BPO on my own listing. Thats a 1st! I still laugh about it.

[sdrealtor]

LOL, I have short sale right now with OCWen. They arent just putting the responsibility in the hands of Indian workers. They are putting it in mine..LOL

They actually had me do a BPO on my own listing. Thats a 1st! I still laugh about it.

[sdrealtor]

LOL, I have short sale right now with OCWen. They arent just putting the responsibility in the hands of Indian workers. They are putting it in mine..LOL

They actually had me do a BPO on my own listing. Thats a 1st! I still laugh about it.

[jpinpb]

Nice to know more jobs shipped overseas. And explains a little why banks are lagging. So if you buy a house w/cash through Ocwen, do you get a coupon for a free slurpee from a Quickie Mart.

[jpinpb]

Nice to know more jobs shipped overseas. And explains a little why banks are lagging. So if you buy a house w/cash through Ocwen, do you get a coupon for a free slurpee from a Quickie Mart.

[jpinpb]

Nice to know more jobs shipped overseas. And explains a little why banks are lagging. So if you buy a house w/cash through Ocwen, do you get a coupon for a free slurpee from a Quickie Mart.

[jpinpb]

Nice to know more jobs shipped overseas. And explains a little why banks are lagging. So if you buy a house w/cash through Ocwen, do you get a coupon for a free slurpee from a Quickie Mart.

[jpinpb]

Nice to know more jobs shipped overseas. And explains a little why banks are lagging. So if you buy a house w/cash through Ocwen, do you get a coupon for a free slurpee from a Quickie Mart.

[Coronita]

[quote]How much training does the average Bangalore college graduate get in California real estate law? Well, considering California college students tend not to get much training in real estate practice in Bangalore … I’d guess zero.

No wonder servicers are going with all-cash offers. Their employees probably lack the expertise to analyze any other type of offer.

I try not to get too worked up about job losses from globalization and offwhoring, but this is just ridiculous.

And please, try not to bash India or Indian workers … I think we should keep the focus on the domestic corporate parasites who are responsible for creating this situation.

[/quote]

Don’t know, but probably they can add/subtract in their heads numbers that it would take their counterparts here to do with a calculator…..ha ha..

Speaking of globalization, my favorites are the kids song video’s on youtube that my kid insists on watching from Bollywood…..completely with the Queen’s English…..

http://www.youtube.com/watch?v=gBEHFFnV3RY

She just refuses to watch another version….
Can’t even find a Made in USA Baa Baa Black Sheep cartoon video anymore…ha ha, lol…

[Coronita]

[quote]How much training does the average Bangalore college graduate get in California real estate law? Well, considering California college students tend not to get much training in real estate practice in Bangalore … I’d guess zero.

No wonder servicers are going with all-cash offers. Their employees probably lack the expertise to analyze any other type of offer.

I try not to get too worked up about job losses from globalization and offwhoring, but this is just ridiculous.

And please, try not to bash India or Indian workers … I think we should keep the focus on the domestic corporate parasites who are responsible for creating this situation.

[/quote]

Don’t know, but probably they can add/subtract in their heads numbers that it would take their counterparts here to do with a calculator…..ha ha..

Speaking of globalization, my favorites are the kids song video’s on youtube that my kid insists on watching from Bollywood…..completely with the Queen’s English…..

http://www.youtube.com/watch?v=gBEHFFnV3RY

She just refuses to watch another version….
Can’t even find a Made in USA Baa Baa Black Sheep cartoon video anymore…ha ha, lol…

[Coronita]

[quote]How much training does the average Bangalore college graduate get in California real estate law? Well, considering California college students tend not to get much training in real estate practice in Bangalore … I’d guess zero.

No wonder servicers are going with all-cash offers. Their employees probably lack the expertise to analyze any other type of offer.

I try not to get too worked up about job losses from globalization and offwhoring, but this is just ridiculous.

And please, try not to bash India or Indian workers … I think we should keep the focus on the domestic corporate parasites who are responsible for creating this situation.

[/quote]

Don’t know, but probably they can add/subtract in their heads numbers that it would take their counterparts here to do with a calculator…..ha ha..

Speaking of globalization, my favorites are the kids song video’s on youtube that my kid insists on watching from Bollywood…..completely with the Queen’s English…..

http://www.youtube.com/watch?v=gBEHFFnV3RY

She just refuses to watch another version….
Can’t even find a Made in USA Baa Baa Black Sheep cartoon video anymore…ha ha, lol…

[Coronita]

[quote]How much training does the average Bangalore college graduate get in California real estate law? Well, considering California college students tend not to get much training in real estate practice in Bangalore … I’d guess zero.

No wonder servicers are going with all-cash offers. Their employees probably lack the expertise to analyze any other type of offer.

I try not to get too worked up about job losses from globalization and offwhoring, but this is just ridiculous.

And please, try not to bash India or Indian workers … I think we should keep the focus on the domestic corporate parasites who are responsible for creating this situation.

[/quote]

Don’t know, but probably they can add/subtract in their heads numbers that it would take their counterparts here to do with a calculator…..ha ha..

Speaking of globalization, my favorites are the kids song video’s on youtube that my kid insists on watching from Bollywood…..completely with the Queen’s English…..

http://www.youtube.com/watch?v=gBEHFFnV3RY

She just refuses to watch another version….
Can’t even find a Made in USA Baa Baa Black Sheep cartoon video anymore…ha ha, lol…

[Author]

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