Seeing as how my topic on contacting Deutsche Bank’s REO Department has been such a great hit, I figured that I would try to publish contact information for other banks.
Ok, as many of you know, Wells Fargo is definitely one of the heavy hitters when it comes to REO Listings, and everyone seems to want a piece of this action.
So, without further delay…..
Wells Fargo , from all my sources OUTSOURCES the vast majority of their REO Listings and Asset Management to a company called Premiere Asset Services. I do believe this is a subsidiary of Wells Fargo, and they handle MOST of their listings, if not all.
I’ve never had a problem with dealing with them at all, as with everyone, they’re under-staffed, so contacting them can be a hardship at times.
They do publish lists of their REO property if you are so inclined, or you can contact them via phone or email to get information on a property that hasn’t been listed yet. Address , City & Zip code seem to work relatively well in terms of getting a response from them.
Their website is – http://www.pasreo.com/pasreo/public/content.do?pageID=2000576
The only contact email I’ve been able to find has been – firstname.lastname@example.org Although it is supposed to be for agents, I’ve used it for property inquiries without issue.
Now , having given this information out……
If you’re an agent looking for Wells Fargo REO listings, you’ll have a very slim chance with PAS as they’ve got a huge backlog of agents wanting to list their properties. I talked to one Representative and she said she receives a few HUNDRED emails per day from agents in the US looking for listings.
PAS (Wells Fargo Asset Management) Fires REO Agents
As a sign of the times, PAS (The company that Wells Fargo outsources the majority of their REO Listings to). Has recently sent an email out, informing many agents that they are no longer able to work with their company.
From my understanding, they’ve trimmed back the herd in bulk , good and bad agents were both let go (Although I assume that more bad agents than good agents were let go).
Some are saying that this has to do with the USGOV bailout and purchasing bad debt, which would include large volumes of foreclosures, other say the volume is just down.
Whatever it is, one thing is certain – Getting into REO listings just got a little harder, as PAS was one of the best, well oiled companies to work with.