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Old 06-14-2013, 10:34 AM   #21
advanced repo
Join Date: Feb 2011
Location: las cruces new mexico
Posts: 60
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Originally Posted by jtdamiami View Post
fowarders do not allow agents to make the sometimes necessary decisions an agent needs to make on the spot, after business hours. Why is that....???

I have two direct clients that for the last 5 years have never second guessed or doubted a fee for a flat bed in the middle of the night because the unit had 4 flat tires or a finders fee to a third party who disclosed the location of a unit and the unit was recovered.

Fowarders are the ones who are more concerned about that extra fee because it is not within their contracts with a lender.

Direct agents most always have the trust and confidence from their lenders mostly as a result of the relationships built upon the direct communication and track history and performance with the lender.

Here is a perfect example of a common occurence, agent finds a third party who says, i show you where he is hiding the car, it is at an apt complex that is gated and guarded, unit is there debtor is driving it out of state in the morning. I can get you into the complex , pass the guard and you can recover the car...but i want $200 bucks.
Unit is close to charge off and is a high balance account.

My direct lenders would not question my decision because of the circumstances of the account and also because we do not abuse the trust, in other words it does not happen every day.

No fowarder that we have worked with so far....will allow an agent to make this kind of decision on the spot. Waiting for the next day approval can mean losing the car for a long time.

So would your company back up an agent under these circumstances of the scenario i played? Or would it let him hang out to dry?

Let me ask you another question while i'm on a roll here...would you pay an agent not only the extra fee for a flatbed of finder fees for an unkwon third party for info but also a second run fee since agent now has to go back again and try to do what he could have done the first time...on the spot!

Btw, i do appreciate your openess and involvement here on the forum.
great examples, as these situations have bit us a few times and also bit the lender a few times when having someone in between claiming you did not have prior approval , but actually if the middle person would explain the exact situation to the lender , most times the lender would have loved to have the unit recovered and pay the necessary additional fee,but many times we have just had the extra fees denied by a middle man because it did not have prior approval! There is often cases where the agent has to make quick decisions as the forwarder or the lender just might not be available at 3:30 in the morning! So we have to go on and deal with it,the best we can.
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