Get cleaning contracts and inspection jobs

 

Mortgage Field Reps for Commercial Property Inspection Jobs

Texoma Field Services Hiring Residential Inspectors

Things you will need is a reliable vehicle, computer, phone, camera, printer and scanner as well as GPS mapping software to find the home addresses.

Apply for work with Texoma Field Services they conduct mortgage field inspections, merchant site inspections, Fannie Mae, Freddie Mac,HUD inspections, and Loss Mitigation services. Get more information at indeed.com/mortgage-field-services-jobs

You an obtain a business occupational license from the county clerk office

To get started doing this type of work it will be necessary to establish your business with the right types of insurance, licenses and equipment.Then you will need insurance coverage such as liability insurance or workmens compensation insurance coverage. You can purchase equipment or rent it from a service provider.

It is possible to get lawn care work on hud homes with lawn maintenance business for lawn mowing crews, weed eater, trimmers, leaf blower along with a truck or trailer. Clean vacant apartment buildings that need brush removal, volume grass cutting, as well as landscaping.

Most real estate contracting job leads for lawn maintenance contract jobs and contracts for small business can be found in the classifieds online.

It is best to get cleaning contracts and inspection jobs from the largest property preservation companies

In the nation who offer inspection, repair and maintenance for REO management and field asset services for lending institurions, banks and investment firms.

To get a list of Real Estate Industry Contracting and subcontracting REO BPO Bank Contact List go to reoindustrydirectory.

Property Preservation Business

How to get started with Mortgage Field Services Training

Home inspector training for smaller foreclosure cleanup businesses is possible when you collaborate with the larger mortgage field services companies.

RealtyTrac has produced reports showing the increasing number of foreclosure filings

In the U.S. This data give evidence to trash-out and those in the foreclosure cleanup industry plenty of work to keep them busy for years to come.

The interior and exterior of the maintenance of these homes must result in removing debris, and making minor repairs along with lawn maintenance.

As long as the distressed properties are vacant there will be a need to do ongoing inspections such as vehicle removal, tree cutting, lock changing and boarding of windows.

The various Casualty Loss Inspections, Loan Collateral, on-site Property Inspection include:

  • Commercial Property Inspections
  • Secondary Mortgage Market Investor Diligence
  • Construction Progress Inspections
  • Casualty Loss Inspections

  • Drive-by Field Inspector

As an independent contractor you will be working with large property preservation companies who will need to subcontract out work to handle all the foreclosures that will be hitting the market from acquiring banks.

field inspectors wanted for mortgage field service jobs
field inspectors wanted for mortgage field service jobs

Foreclosure cleanup businesses services

The foreclosure cleaning business is hard work , if you own a foreclosure cleaning business you will have to bid for contract work or else you will need to contact real estate investors and find out if they have foreclosed homes that they want you to maintain.

Field Inspection Technician Job Duties

You can hire a Field Inspector technician to do the cleaning and hauling of the trash to the dump sites but that is just part of the process, you will also need to find out how you can work at home based inspections.

Get training in California and learn how to earn good income and what the field service representative inspection business is all about from those who are experienced in the industry.

One important step is that if you are looking to get into the field of property preservation or field service inspection you will need a list of companies that will need your skills.

Types of Inspection Services:

Some of the types of services you will provide are considered inspection services which involve commercial property inspection services, residential property inspection services, insurance loss inspection services, manufactured housing inspections, and possibly REO Field Services.

How to start a Home Inspection Insurance Service

Insurance inspections are just a small percentage of the types of ways to protect yourself and get coverage while your providing services. In such cases as property damage and bodily injury that leads to claim settlements.

It is recommended to get liability insurance along with errors and omissions to make sure that you understand coverage for commercial inspections. Lawsuit damages are on the rise and you want to make sure that you let an un-insured error insurance claim destroy your business.

Some of your top insurance claims are going to include coverage for limits and deductibles. Now more than ever with the growth of home sales residential home inspectors need this insurance to be proactive in your professional liability search.

List of Property Preservation Companies

  • American Property Management, Inc.
  • Corporate Asset Management LL
  • Cyprexx Service
  • Default Services, Inc.
  • Field Asset Service
  • First American Field Services
  • First American REO Servicing
  • FirstService Corporatio
  • Five Brothers Mortgage Services
  • Fontaine Inspections Inc.
  • Lender Processing Service
  • LPS Field Services
  • M&M Mortgage
  • Maxim Enterprises
  • Mortgage Contracting Services
  • North American Property Preservation
  • Now Property Preservation
  • REO Allegiance
  • Safeguard Properties Inc
  • Sierra Field Services
  • SingleSource Property Solution
  • Southeastern Asset Services
  • Spectrum Field Services Inc
  • Trinity Field Services
  • Wolverine Real Estate Service

How to get started in working as a commercial field inspector

First you must understand that many field inspection companies do not post open positions on job boards or in the classified section in the newspaper.

That's because all you need to do is sign up with the field inspection companies and they start sending you work orders via email.

REO property preservation and maintenance services

Initial Services - such as services performed immediately upon a property becoming vacant
Recurring Services - also services performed on a regularly scheduled basis
Periodic Services - as well as services performed on an as-needed or requested basis

  • Client support capabilities
  • Bid Management System
  • Bid Review and QC Process
  • Winterization Management Program

Companies hiring field inspectors:

  • First American Field Service, offers property preservation services
  • LPS Field Services is a national field service company
  • A-1 Field Services
  • National Field Representatives inc. performs field services for the Mortgage industry

You can determine to either accept or decline those orders based on your own schedule. It is important to note that for most field inspection companies no certifications or special licenses are required.

Commercial Property Inspection

During inspection you will be required to meet on-site with borrower and/or the borrower's representative to verify;

  • the extent of the casualty damage,
  • cost to repair, the repair schedule,
  • a subsequent on-site inspection to verify the completion status of the casualty curative work

These types of inspections are ordered by banks/lenders and insurance companies.

Demand is high for someone who can go by take photos and check on these vacant, boarded up, REO and Foreclosures.

As you can imagine it takes much skill and practice to be able to advance into the many other areas of the mortgage industry

Some of the types of inspections you can expect to do are:

  • on site merchant verification for banks or credit card processing companies,
  • residential property inspections for insurance companies or mortgage companies,
  • business verification for companies applying for consumer credit access
  • construction site inspections.

You will be required to fill outfield inspection reports can vary from a few yes, no questions and some photos, to a longer more complete report.It is more specifically known as field service.

This industry is legitimate, flexible, profitable and can be done from home. You will just be cautious of ads that promise to good to be true claims.

Tools Needed for Performing Field Inspections

First it will be required that you have a computer with internet access, then you will need to have an email account, a printer,along with a digital camera and transportation.

The benefits of such a job working as a field service inspector is the flexibility to work your own schedule and the opportunity to earn an extra income.

Working with Lending and Insurance Companies

As a vendor you will be assisting Lending, Leasing and Insurance institutions nationwide who have vested interests in homes, cars, commercial property, businesses, trucks, RVs, boats, or any entity requiring financing or insurance.

So that is why this field is in demand because these institutions need to have updated and accurate information on the condition of this properties.

Updated information is needed for vacant bank owned homes

As you are probably aware the current economic slowdown has opened up more opportunities for field service inspectors specifically due to the homes and commercial properties that are being refinanced.

All those foreclosed homes that are vacant and require frequently updated photos and reports from Lending, Leasing and Insurance institutions nationwide.

You are hired by these companies that need to have updated and accurate information on the condition of this properties.

In this case these institutions sub-contract out this work to freelance field service inspection representatives all over the country.

Verification Inspection Types

Once you have determined what type of inspection you will choose to do next you will want to know what the different on site verification inspections include, some are:

  • Assumption Diligence
  • Modification Diligence
  • Consent or Waiver Diligence
  • Pre-Loan Closing Condition Diligence
  • Post Loan Closing Compliance
  • Watchlist Threshold Diligence
  • Partial Release Partial Reconveyance Diligence
  • Verification of Physical Occupancy

The ideal situation is if you can work at home, this job allows you the flexibility to create your own schedule and get out of the house, field inspection just might be the perfect job for you. Field inspectors complete inspection jobs for mortgage companies, banks and insurance agencies.

Local Home Inspections per each state in the U.S.

The best way to find local home inspectors in your area is to start with the online directories, some that I found to be really helpful is in the inspectorfinders.net site, they have companies listed in the united states.

Specialty inspection and verification services

  • Delinquent Vehicle Loan Inspections
  • Floor Plan Audits
  • “Notice to Call” Delivery
  • Merchant Site Inspections/Surveys
  • Commercial Real Estate Inspections
  • Reverse Mortgage Inspections
  • Mobile Home Vacancy Inspections
  • Occupancy Checks
  • REO QC Inspections
  • Leased Equipment Inspections
  • Collateral Inspection Reports
  • Address Verifications
  • Location Verification Inspections
  • Delinquent Credit Card Interviews
  • Credit Line Interviews

Types of Inspection Job Descriptions

Other types of inspections that you will need to be familiar with include:

  • Property Inspection Reports
  • Occupancy Verification
  • REO Occupancy Status Inspections
  • Rush Inspections and Occupancy Verifications
  • Evening Occupancy Verifications
  • Sale Date Inspections
  • Insurance Loss Inspections
  • Natural Disaster Inspections
  • Quality Control & Annual Inspections
  • Photographs

Some will require that you have your own camera as well as transportation and a way to document and record the inspections. For those looking for jobs they need to be acquainted with some of the job duties required by many national companies.

Home Inspection Licensing Requirements

Did you know that home inspection has become a standard in the home buying process?

There is no national licensing. Currently, fewer than half the states license or certify home inspectors.

Many states have licensing laws or registration requirements for home inspectors. Some states have proposed or pending legislation.

Find the latest information on home inspection legislation and regulation in your state to help with Home Inspector Licensing Requirements and Home Inspection Legislation.

Become a Home Inspector with PHII, offering hands-on distance training and home study classes including mold, pest, radon, and manufactured housing which is the Oldest and largest professional organization for home inspectors in North America.

The North Carolina Home Inspector Licensure Board (NCHILB) is chartered to safeguard the public health, safety, and welfare - protect the public from being harmed by unqualified persons by regulating the use of the title "Licensed Home Inspector" and by providing for the licensure and regulation of those who perform home inspections for compensation.

Have you decided to offer property inspection services? Are seeking the knowledge you need to complete inspections completely?

Mortgage Field Inspector is needed in the Carrolton, Roopeville,Temple, Rome, and surrounding areas, former real estate appraisal experience helpful but not necessary person must maintain organized work environment and high standard to details.

You may have seen that there is an additional Income Opportunity in field inspection services, especially for those looking for the Independent Contractor Jobs.

As for the occupations for Field Inspectors they will work as a Mortgage Field Inspector providing Mortgage Field Services to designated Companies.

It is important to note that it is going to be very competitive for other businesses that need Mortgage Field Services to help with Supplemental Income of subcontractors hired for government vendor contracts.

Experience needed for field Inspectors.

Before you apply to the national companies you will need to make sure that you are able to offer the following things:

Lock changes,Winterization, Debris removal Grass and grounds maintenance, Initial Securing, HUD Conveyance Preparation, Eviction services, Code violation abatement, Repair and Renovation Estimates, Special Services.

Real estate owned or REO is a class of property owned by a lender

From Wikipedia, the free encyclopedia

REO properties often have dead lawns and may be poorly maintained.
Real estate owned or REO is a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction.[1] A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. This is commonly the case when the amount owed on the home is higher than the current market value of this foreclosure property, such as with a high loan-to-valuemortgage following a real estate bubble. As soon as the beneficiary repossesses the property it is listed on their books as REO and categorized as an asset (non-performing asset).

Origin

The term REO originates from the term other real estate owned (OREO), which is used on financial statements to classify real estate property owned by a financial institution but which is not directly related to its business. The important distinction underlying OREO is between lenders versus companies for which real estate management is their primary business. Lenders are primarily in the business of making loans with the intent that nearly all of those loans will be repaid in full with interest. Seizing, managing and reselling real property collateral to recover unpaid loan balances is secondary to lenders' primary line of business.
In balance sheet terms, OREO assets are considered non-earning assets for purposes of regulatory accounting.[2] In the context of national banks in the U.S., the term OREO is legally defined by the Office of the Comptroller of the Currency in regulations promulgated pursuant to 12 U.S.C. § 29.

Process

As soon as a property goes into a distressed status (the borrower/home owner misses mortgage payments) the beneficiary will want to determine the amount of equity that the property has. A popular method to determine the equity is to obtain a Broker's Price Opinion (BPO) or order an appraisal. Based on the amount of equity that is determined from the BPO, the bank will decide whether to allow a short sale (if requested by the homeowner). If no short sale is requested by the home owner, the beneficiary will continue the foreclosure process. If the beneficiary is unable to sell the property through a short sale or at a foreclosure auction it will now become an REO property.
After a repossession from which the property becomes classified as REO, the beneficiary will go through the process of trying to sell the property on its own or obtain the service of an REO Asset Manager. The beneficiary will remove the liens and other debts on the home and try to resell it to the public, either through future auctions, direct marketing through a real estate broker, or by itself. The asset manager may also try to contact REO realtors that specialize in certain ZIP codes to help sell this bank owned property. Real estate investors will often purchase these properties because of discounts offered to compensate for the condition of the property.
Many larger banks and government institutions have REO/asset management departments that field bids and offers, oversee upkeep, and handle sales. Some REO properties on the open market will be listed in MLS by the broker who performed the BPO. In the contraction that resulted from the S&L crisis, a common problem in many areas involved the listing broker "pocket listing" the transaction and not putting it out on the open market. Agents who have a pocket listing will put the listing on the MLS but will sometimes not field legitimate offers in the hopes of selling it themselves, quite often contrary to the beneficiaries wishes. To combat this, REO exchanges and government foreclosure outlets have been developed to overcome this problem.[citation needed]

Property preservation

Bank REO properties are generally in poor condition and need repairs and maintenance, both to satisfy property upkeep laws and to preserve and prepare the property for sale. Maintenance is generally the responsibility of the mortgage servicer[3][4] and is often in turn provided by a specialized property preservation company. These property preservation services include: securing a property (changing locks, boarding up), debris removal, property maintenance (winterizing, cutting grass, repairing or tarping roof leaks), and rehabilitation.[3][5]
In addition to preventing damage to the property, securing a property is used to prevent or discourage re-entry by former occupants or by squatters, which can both damage the property and require legal proceedings to remove, further complicating a sale. Swimming pools must also be secured to prevent deaths or injuries from drowning and falls.

Bulk real estate owned

Bulk REO or bulk real estate owned, from a real estate investor’s point of view, is like investing on wholesale real estate properties. On the other hand, banks or lenders sell or open their assets in group for auction at a very low price compared to their market value. One benefit of investing on REO's in bulk is that a buyer can get good discounts upon purchasing them. However, the downside would be the incurred expenses from the closing amounts of the properties that the investor needs to pay.[6]
For instance, a real estate investor purchased four REOs for $600,000 by borrowing an amount of $500,000 and paying $100,000 as down payment. Each property costs $150,000 and the down payment is allocated equally among them at $25,000. The remaining balance for each property will then be $125,000 which is financed through blanket loan for $500,000. Each property will still have a release clause of $125,000 so that it can still be sold separately without affecting the blanket loan. Thus, in case one has sold a property for $300,000, one only needs to pay off the release amount of $125,000 taking home the profit of $175,000.
Most bulk REOs have these common characteristics:
  • Marginal location - low population rate or poor commercial activities;
  • Low or no market demand
  • Not qualified for conventional financing
Typically, bulk REOs are found in low to non-residential areas with low to moderate income residents. Most are abandoned, have no appeal and only incur cost to the lender or bank. Generally, these properties sell for 40 to 60 percent lower than the actual market value. [7]

References

  1. ^ William Roark (2006), Concise Encyclopedia of Real Estate Business Terms ISBN 0-7890-2341-5
  2. ^ Investopedia.
  3. ^ a b "Property Maintenance & Management: Property Preservation Matrix", 2010, Fannie Mae
  4. ^ Property Preservation Servicer Contacts, Mortgage Bankers Association
  5. ^ "Cleaning house" by Kristen Hampshire, Inside Business, May 1, 2008
  6. ^ Kollen-Rice 2008, p.107.
  7. ^ Whitney 2003, p.51.
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