Orlando FL Real Estate Home For Sale | Torey Eisenman: August 2013

Are Servicing Companies Transactions Arms Length-Let's ask Ocwen

Fellow real estate agents this is a must read if you have short sales with Ocwen.
 
Altisource is sending a letter that states  on Page 1 Item F "Listing Broker has requested RHSS to provide and RHSS has agreed to provide (or cause to be provided) the services to the listing broker pursuant to the terms and conditions as set forth herein".....

How many of you agents have solicited Ocwen for this agreement? The agreement I saw was signed by Christian Webb (In the state of Florida- Christian Webb does not have an active license with RealHome Services and Solutions Inc- see below) on behalf of RHSS. Look up RealHomes Services and Solutions (RHSS) Also dba Altisource. Then section 9.1 and 9.2 on pages 3 and 4 Altisource owns Hubzu and RHSS. Does this sounds arms length?
I have not included a copy of the entire agreement however all parties are required to be paid in the transaction Hubzu, Altisource and RealHome Services and Solutions. All of which appear to be related.
 
Is it legal to require a real estate to sign this agreement which states they solicited it when they didn't and then payments are disbursed to all affiliated companies. The next question is "Who is the buyer when these documents are required?" It makes you wonder.
 

KEEP READING:
William C. Erbey. Mr. Erbey has served as the Executive Chairman of the Board of Directors of Ocwen since September 1996, as the Chief Executive Officer of Ocwen from January 1988 to October 2010 and as the President of Ocwen from January 1988 to May 1998. From 1983 to 1995, Mr. Erbey served as a Managing General Partner of The Oxford Financial Group, a private investment partnership that was the predecessor of Ocwen. Mr. Erbey has also served as Chairman of the Board of Directors for Altisource Portfolio Solutions S.A. since July 2009. He is also the founder of Home Loan Servicing Solutions, Ltd. and has served as its Chairman since December 2010. He also has served as Chairman of the Board of Directors of Altisource Residential Corporation since July 2012 and as Chairman of the Board of Directors of Altisource Asset Management Corporation since March 2012. From 1975 to 1983, Mr. Erbey served at General Electric Capital Corporation in various capacities, most recently as the President and Chief Operating Officer of General Electric Mortgage Insurance Corporation. Mr. Erbey also served as the Program General Manager of GECC's Commercial Financial Services Department and as the President of Acquisition Funding Corporation. He holds a Bachelor of Arts in Economics from Allegheny College and a Master of Business Administration from Harvard University.

With extensive experience in the financial services and mortgage industries, Mr. Erbey provides the Board of Directors with an informed perspective and thoughtful insights into strategic and operational opportunities, economic and industry trends of relevance to the Company and guidance on the competitive positioning of the Company. Throughout his tenure, Mr. Erbey has successfully demonstrated his business acumen and commitment to our Company. His wide-ranging expertise in the financial services business and extraordinary leadership capabilities are recognized as invaluable by the Board of Directors.
 
DBPR records for RealHome Services and Solutions Inc.
 
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Licensee
Name: REALHOME SERVICES AND SOLUTIONS INC License Number: 1033282
Rank: Real Estate Corporation License Expiration Date: 03/31/2015
Primary Status: Current Original License Date: 12/10/2008
Secondary Status: Active    

Related License Information  
License Number Status Related Party Relationship Type Relation Effective Date Rank Expiration Date
3260128 Current, Active MCCALL, STEPHANIE JANE Employed By 10/30/2012 Real Estate Sales Associate 03/31/2014
3217607 Current, Active SIBIGA, STEPHEN PAUL Qualifying Broker 12/10/2008 Real Estate Broker 09/30/2015
 

Authored by: Torey Eisenman

Comment balloon 0 commentsTorey Eisenman • August 19 2013 03:07PM
Are Servicing Companies Transactions Arms Length-Let's ask Ocwen
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Fellow real estate agents this is a must read if you have short sales with Ocwen Altisource is sending a letter that states on Page 1 Item F "Listing Broker has requested RHSS to provide and RHSS has agreed to provide (or cause… more